Company Registration No. 06329641 (England and Wales)
MANDORA LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
PAGES FOR FILING WITH REGISTRAR
MANDORA LIMITED
COMPANY INFORMATION
Directors
Mrs I Dyan
P Ferstendik
Secretary
L Ferstendik
Company number
06329641
Registered office
145-157 St. John Street
London
EC1V 4PY
Accountants
Haines Watts (Westbury) LLP
145-157 St. John Street
London
EC1V 4PY
MANDORA LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
MANDORA LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2017
31 December 2017
- 1 -
2017
2016
Notes
£
£
£
£
Fixed assets
Tangible assets
3
62,659
11,507
Investments
4
13,092,735
13,424,720
13,155,394
13,436,227
Current assets
Debtors
6
7,338,854
7,402,191
Cash at bank and in hand
548,113
185,292
7,886,967
7,587,483
Creditors: amounts falling due within one year
7
(1,669,762)
(1,612,995)
Net current assets
6,217,205
5,974,488
Total assets less current liabilities
19,372,599
19,410,715
Capital and reserves
Called up share capital
8
299
299
Other reserves
3,243,198
3,243,198
Profit and loss reserves
16,129,102
16,167,218
Total equity
19,372,599
19,410,715
For the financial year ended 31 December 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
T
he directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The financial statements were approved by the board of directors and authorised for issue on 26 September 2018 and are signed on its behalf by:
P Ferstendik
Director
Company Registration No. 06329641
MANDORA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
- 2 -
1
Accounting policies
Company information
Mandora Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
145-157 St. John Street, London, EC1V 4PY.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computer equipment
25% straight line
Motor vehicles
25% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.3
Impairment of fixed assets
At each reporting
period
end date, the
company
reviews the carrying amounts of its tangible
assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company
estimates the recoverable amount of the cash-generating unit to which the asset belongs.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
1.4
Cash at bank and in hand
Cash at bank and in hand
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
MANDORA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2017
1
Accounting policies
(Continued)
- 3 -
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset
, with
the net amounts presented in the financial statements
,
when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest
method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from
fellow group companies and preference shares that are classified as debt, are
initially recognised at transaction price unless the arrangement constitutes a
financing transaction, where the debt instrument is measured at the present value of
the future
paymen
ts discounted at a market rate of interest.
Financial liabilities classified as payable within one year are not amortised.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 5 (2016 - 5).
MANDORA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2017
- 4 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2017
60,754
Additions
75,875
At 31 December 2017
136,629
Depreciation and impairment
At 1 January 2017
49,248
Depreciation charged in the year
24,722
At 31 December 2017
73,970
Carrying amount
At 31 December 2017
62,659
At 31 December 2016
11,507
4
Fixed asset investments
2017
2016
£
£
Investments
13,092,735
13,424,720
Movements in fixed asset investments
Investments other than loans
£
Cost or valuation
At 1 January 2017
13,424,720
Additions
426,140
Valuation changes
(87,023)
Equalisation
(625)
Disposals
(670,477)
At 31 December 2017
13,092,735
Carrying amount
At 31 December 2017
13,092,735
At 31 December 2016
13,424,720
MANDORA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2017
- 5 -
5
Financial instruments
2017
2016
£
£
Carrying amount of financial assets
Instruments measured at fair value through profit or loss
13,092,735
13,424,720
6
Debtors
2017
2016
Amounts falling due within one year:
£
£
Amounts due from group undertakings and undertakings in which the company has a participating interest
5,341,469
4,606,469
Other debtors
1,997,385
2,795,722
7,338,854
7,402,191
7
Creditors: amounts falling due within one year
2017
2016
£
£
Trade creditors
499
5,728
Other taxation and social security
23,186
24,375
Other creditors
1,646,077
1,582,892
1,669,762
1,612,995
8
Called up share capital
2017
2016
£
£
Ordinary share capital
Issued and fully paid
2,400 Ordinary shares of 8.3333p each
200
200
612 Ordinary A-Shares of 8.3333p each
51
51
576 Ordinary B-Shares of 8.3333p each
48
48
299
299