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2019-03-31
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No description of principal activities is disclosed
2018-04-01
Sage Accounts Production 18.30 Update 2 - FRS
xbrli:pure
xbrli:shares
iso4217:GBP
10263240
2018-04-01
2019-03-31
10263240
2019-03-31
10263240
2017-04-01
2018-03-31
10263240
2018-03-31
10263240
2017-03-31
10263240
bus:RegisteredOffice
2018-04-01
2019-03-31
10263240
bus:LeadAgentIfApplicable
2018-04-01
2019-03-31
10263240
bus:Director1
2018-04-01
2019-03-31
10263240
bus:Director2
2018-04-01
2019-03-31
10263240
bus:CompanySecretary1
2018-04-01
2019-03-31
10263240
core:WithinOneYear
2019-03-31
10263240
core:WithinOneYear
2018-03-31
10263240
core:RetainedEarningsAccumulatedLosses
2017-04-01
2018-03-31
10263240
core:RetainedEarningsAccumulatedLosses
2018-04-01
2019-03-31
10263240
core:ShareCapital
2019-03-31
10263240
core:ShareCapital
2018-03-31
10263240
core:RetainedEarningsAccumulatedLosses
2019-03-31
10263240
core:RetainedEarningsAccumulatedLosses
2018-03-31
10263240
core:ShareCapital
2017-03-31
10263240
core:RetainedEarningsAccumulatedLosses
2017-03-31
10263240
bus:Director1
2019-03-31
10263240
bus:Director2
2019-03-31
10263240
bus:SmallEntities
2018-04-01
2019-03-31
10263240
bus:AuditExempt-NoAccountantsReport
2018-04-01
2019-03-31
10263240
bus:FullAccounts
2018-04-01
2019-03-31
10263240
bus:SmallCompaniesRegimeForAccounts
2018-04-01
2019-03-31
10263240
bus:PrivateLimitedCompanyLtd
2018-04-01
2019-03-31
Company registration number:
10263240
Mark Oliver Homes (Huddersfield) Limited
Unaudited filleted financial statements
31 March 2019
Mark Oliver Homes (Huddersfield) Limited
Contents
Directors and other information
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Mark Oliver Homes (Huddersfield) Limited
Directors and other information
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Directors
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D Sheinman
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I Shiner
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Secretary
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D Sheinman
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Company number
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10263240
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Registered office
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6 Torriano Mews
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London
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NW5 2RZ
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Business address
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6 Torriano Mews
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London
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NW5 2RZ
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Accountants
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Johal Stott & Co
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Chartered Certified Accountants
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10 Dartmouth Park Hill
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London
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NW5 1HL
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Mark Oliver Homes (Huddersfield) Limited
Statement of financial position
31 March 2019
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31/03/19
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31/03/18
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Note
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£
|
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£
|
|
£
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|
£
|
|
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|
|
|
|
|
|
|
|
Current assets
|
|
|
|
|
|
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Stocks
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1,075,000
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|
2,202,214
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|
Debtors
|
|
4
|
244,122
|
|
|
|
65,024
|
|
|
Cash at bank and in hand
|
|
|
24,520
|
|
|
|
454,195
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
1,343,642
|
|
|
|
2,721,433
|
|
|
Creditors: amounts falling due
|
|
|
|
|
|
|
|
|
|
within one year
|
|
5
|
(
1,717,054)
|
|
|
|
(
2,894,017)
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
Net current liabilities
|
|
|
|
|
(
373,412)
|
|
|
|
(
172,584)
|
|
|
|
|
|
_______
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|
|
|
_______
|
Total assets less current liabilities
|
|
|
|
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(
373,412)
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|
|
|
(
172,584)
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|
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|
|
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|
|
|
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|
_______
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_______
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Net liabilities
|
|
|
|
|
(
373,412)
|
|
|
|
(
172,584)
|
|
|
|
|
|
_______
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_______
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Capital and reserves
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Called up share capital
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2
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|
|
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2
|
Profit and loss account
|
|
|
|
|
(
373,414)
|
|
|
|
(
172,586)
|
|
|
|
|
|
_______
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|
|
|
_______
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Shareholders deficit
|
|
|
|
|
(
373,412)
|
|
|
|
(
172,584)
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|
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|
|
_______
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_______
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For the year ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
19 December 2019
, and are signed on behalf of the board by:
D Sheinman
Director
Company registration number:
10263240
Mark Oliver Homes (Huddersfield) Limited
Statement of changes in equity
Year ended 31 March 2019
|
|
Called up share capital
|
|
Profit and loss account
|
Total
|
|
|
|
|
|
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|
£
|
|
£
|
£
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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At 1 April 2017
|
|
2
|
|
(
19,613)
|
(
19,611)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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Loss for the year
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|
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(
152,973)
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(
152,973)
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_______
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_______
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_______
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Total comprehensive income for the year
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|
-
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|
(
152,973)
|
(
152,973)
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|
|
|
|
|
|
|
|
|
|
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|
|
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_______
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_______
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_______
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At 31 March 2018 and 1 April 2018
|
|
2
|
|
(
172,586)
|
(
172,584)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss for the year
|
|
|
|
(
200,828)
|
(
200,828)
|
|
|
|
|
|
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_______
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_______
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_______
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Total comprehensive income for the year
|
|
-
|
|
(
200,828)
|
(
200,828)
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|
|
|
|
|
|
|
|
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|
|
|
|
|
|
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_______
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_______
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_______
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|
At 31 March 2019
|
|
2
|
|
(
373,414)
|
(
373,412)
|
|
|
|
|
|
|
|
_______
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|
_______
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_______
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Mark Oliver Homes (Huddersfield) Limited
Notes to the financial statements
Year ended 31 March 2019
1.
General information
The company is a private company limited by shares, registered in England. The address of the registered office is 6 Torriano Mews, London, NW5 2RZ.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going Concern
The directors having reviewed the Company's financial performance and position up to the date these financial statements were aprroved, taking into account possible changes that may transpire, determine that the Company will be able to operate within the level of its current facilities and have a reasonable expection that the Company has adequate resources available at its disposal to continue in operational existence for the forseeable future. While there will always remain inherent uncertainty, the directors consider it appropriate to continue to adopt the going concern basis in preparing the Company's financial statements and have not recognised any adjustments in the financial statements that would arise if the going concern basis were to become no longer appropriate.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Stocks
Stocks includes work in progress and valued at the lower of cost and net realisable value. Net realisable value is the estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4.
Debtors
|
|
|
31/03/19
|
31/03/18
|
|
|
|
£
|
£
|
|
Trade debtors
|
|
-
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60,758
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Other debtors
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|
244,122
|
4,266
|
|
|
|
_______
|
_______
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|
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244,122
|
65,024
|
|
|
|
_______
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_______
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|
|
|
|
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5.
Creditors: amounts falling due within one year
|
|
|
31/03/19
|
31/03/18
|
|
|
|
£
|
£
|
|
Bank loans and overdrafts
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|
-
|
971,530
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|
Trade creditors
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|
1,415,718
|
1,231,834
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|
Social security and other taxes
|
|
1,405
|
-
|
|
Other creditors
|
|
299,931
|
690,653
|
|
|
|
_______
|
_______
|
|
|
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1,717,054
|
2,894,017
|
|
|
|
_______
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_______
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6.
Directors advances, credits and guarantees
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During the year the directors entered into the following advances and credits with the company:
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Year ended 31/03/19
|
|
|
|
|
|
|
|
|
|
Balance brought forward
|
Advances /(credits) to the directors
|
Balance o/standing
|
|
|
|
|
|
£
|
£
|
£
|
|
|
|
|
D Sheinman
|
-
|
69,500
|
69,500
|
|
|
|
|
I Shiner
|
-
|
84,000
|
84,000
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
-
|
153,500
|
153,500
|
|
|
|
|
|
_______
|
_______
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_______
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|
|
|
|
|
|
|
|
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|
Period ended 31/03/18
|
|
|
|
|
|
|
|
|
|
Balance brought forward
|
Advances /(credits) to the directors
|
Balance o/standing
|
|
|
|
|
|
£
|
£
|
£
|
|
|
|
|
D Sheinman
|
-
|
-
|
-
|
|
|
|
|
I Shiner
|
-
|
-
|
-
|
|
|
|
|
|
_______
|
_______
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_______
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At the Balance Sheet date, the directors owed the company as above. These amounts were repaid in full within 9 months of the year end. The directors were charged interest on the loan in the year at the average official rate 2.5%
7.
Related party transactions
During the reporting period, the company with directors/members in common maintained unsecured interest free loan accounts with Mark Oliver Homes (Yorkshire) Ltd and Redsummer Ltd. The respective loan accounts are repayable on demand with no fixed date of repayment and as at the reporting date, amounts due by Mark Oliver Homes (Huddersfield) Ltd to Mark Oliver Homes (Yorkshire) Ltd £290,131 (31/03/18: £527,642) and due from Redsummer Ltd £90,000 (31/03/18: (-£120,000).
8.
Judgement in applying accounting policies and key sources of estimation uncertainty
In the application of the Company's accounting policies, the directors are required to apply judgment and make estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other available sources based on historical experience and other factors that are considered to be relevant. Consequently, actual results may differ from that originally estimated. In the opinion of the directors, there were no judgments, stimates and/or assumptions made in applying the principal accounting policies, outlined in note 2 of these financial statements, towards the preparation of these financial statements that may be considered as having a significant risk of causing a material adjustment to the carrying amount of assets and/or liabilities carried forward as at the balance sheet date where by which the actual future outcome observed may differ from that originally determined and reported.