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No description of principal activities is disclosed
2021-04-01
Sage Accounts Production 21.0 - FRS102_2021
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2022-03-31
Company registration number:
10263240
Mark Oliver Homes (Huddersfield) Limited
Unaudited filleted financial statements
31 March 2022
Mark Oliver Homes (Huddersfield) Limited
Contents
Directors and other information
Accountants report
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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Director
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D Sheinman
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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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10 Dartmouth Park Hill
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London
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NW5 1HL
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Mark Oliver Homes (Huddersfield) Limited
Report to the director on the preparation of the
unaudited statutory financial statements of Mark Oliver Homes (Huddersfield) Limited
Year ended 31 March 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Mark Oliver Homes (Huddersfield) Limited for the year ended 31 March 2022 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.
This report is made solely to the director of Mark Oliver Homes (Huddersfield) Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Mark Oliver Homes (Huddersfield) Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global /Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Mark Oliver Homes (Huddersfield) Limited and its director as a body for our work or for this report.
It is your duty to ensure that Mark Oliver Homes (Huddersfield) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Mark Oliver Homes (Huddersfield) Limited. You consider that Mark Oliver Homes (Huddersfield) Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Mark Oliver Homes (Huddersfield) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Johal Stott & Co
Chartered Certified Accountants
10 Dartmouth Park Hill
London
NW5 1HL
Mark Oliver Homes (Huddersfield) Limited
Statement of financial position
31 March 2022
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2022
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2021
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Note
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£
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£
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£
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£
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Fixed assets
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Investments
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4
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1
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1
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_______
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_______
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1
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1
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Current assets
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Stocks
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372,529
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372,529
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Debtors
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5
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15,166
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27,818
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Cash at bank and in hand
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5,791
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6,751
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_______
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_______
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393,486
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407,098
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Creditors: amounts falling due
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within one year
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6
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(
79,494)
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(
559,620)
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_______
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_______
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Net current assets/(liabilities)
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313,992
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(
152,522)
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_______
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_______
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Total assets less current liabilities
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313,993
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(
152,521)
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_______
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_______
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Net assets/(liabilities)
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313,993
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(
152,521)
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_______
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_______
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Capital and reserves
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Called up share capital
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3
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|
|
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3
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Profit and loss account
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313,990
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|
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(
152,524)
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_______
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_______
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Shareholders funds/(deficit)
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313,993
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|
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(
152,521)
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_______
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_______
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For the year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges 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 Section 1A of 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
28 December 2022
, 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 2022
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Called up share capital
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Profit and loss account
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Total
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£
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£
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£
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At 1 April 2020
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2
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|
(
510,828)
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(
510,826)
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|
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|
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Profit for the year
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358,304
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358,304
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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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358,304
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358,304
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Issue of shares
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1
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1
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_______
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_______
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_______
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Total investments by and distributions to owners
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1
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-
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1
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_______
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_______
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_______
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At 31 March 2021 and 1 April 2021
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3
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|
(
152,524)
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(
152,521)
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|
|
|
|
|
|
|
|
|
|
|
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Profit for the year
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466,514
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466,514
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|
|
|
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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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466,514
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466,514
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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_______
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_______
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_______
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At 31 March 2022
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3
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|
313,990
|
313,993
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|
|
|
|
|
|
|
_______
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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 2022
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.
Exceptional items
Exceptional items are disclosed separately in the financial statements in order to provide further understanding of the financial performance of the entity. They are material items of income or expense that have been shown separately because of their nature or amount.
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.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
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.
Investments
|
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Shares in group undertakings and participating interests
|
Total
|
|
|
|
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|
|
£
|
£
|
|
|
|
|
|
Cost
|
|
|
|
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|
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|
At 1 April 2021 and 31 March 2022
|
1
|
1
|
|
|
|
|
|
|
_______
|
_______
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|
|
|
|
|
Impairment
|
|
|
|
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|
|
At 1 April 2021 and 31 March 2022
|
-
|
-
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
Carrying amount
|
|
|
|
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|
|
At 31 March 2022
|
1
|
1
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
At 31 March 2021
|
1
|
1
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
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|
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1 B Ordinary share in Redsummer Ltd, being equivalent to 33.33% of its share capital.
5.
Debtors
|
|
|
2022
|
2021
|
|
|
|
£
|
£
|
|
Trade debtors
|
|
14,588
|
10,000
|
|
Other debtors
|
|
578
|
17,818
|
|
|
|
_______
|
_______
|
|
|
|
15,166
|
27,818
|
|
|
|
_______
|
_______
|
|
|
|
|
|
6.
Creditors: amounts falling due within one year
|
|
|
2022
|
2021
|
|
|
|
£
|
£
|
|
Trade creditors
|
|
15,451
|
1,488
|
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest
|
|
-
|
330,000
|
|
Other creditors
|
|
64,043
|
228,132
|
|
|
|
_______
|
_______
|
|
|
|
79,494
|
559,620
|
|
|
|
_______
|
_______
|
|
|
|
|
|
At the balance sheet date, the provision for impairment against trade and other creditors falling due within one year was £ nil (2021: £472,925)
7.
Related party transactions
At the balance sheet date, the director was owed £49,543 (2021: £219,142) by the Company. Amounts owed are unsecured, interest free and repayable on demand. The amount owed is included in other creditors due within one year.
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.