Company Registration No. 10519282 (England and Wales)
Mayland Ventures Limited
Unaudited accounts
for the year ended 31 March 2019
Mayland Ventures Limited
Unaudited accounts
Contents
Mayland Ventures Limited
Statement of financial position
as at
31 March 2019
Investment property
550,371
550,371
Cash at bank and in hand
2,126
367
Creditors: amounts falling due within one year
(570,070)
(555,520)
Net current liabilities
(567,944)
(555,153)
Net liabilities
(17,573)
(4,782)
Called up share capital
100
100
Profit and loss account
(17,673)
(4,882)
Shareholders' funds
(17,573)
(4,782)
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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 13 November 2019.
S Kular
Director
Company Registration No. 10519282
Mayland Ventures Limited
Notes to the Accounts
for the year ended 31 March 2019
Mayland Ventures Limited is a private company, limited by shares, registered in England and Wales, registration number 10519282. The registered office is 112 STANMORE ROAD, BIRMINGHAM, B16 0SX, UNITED KINGDOM.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
4
Investment property
2019
Fair value at 1 April 2018
550,371
5
Creditors: amounts falling due within one year
2019
2018
Bank loans and overdrafts
390,174
390,174
Obligations under finance leases and hire purchase contracts
540
400
Loans from directors
179,356
164,946
6
Share capital
2019
2018
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
Mayland Ventures Limited
Notes to the Accounts
for the year ended 31 March 2019
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Directors Loan Account
82,473
7,205
-
89,678
Directors Loan Account
82,473
7,205
-
89,678
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Average number of employees
During the year the average number of employees was 2 (2018: 2).