Company Registration No. 10519282 (England and Wales)
Mayland Ventures Limited
Unaudited accounts
for the period from 9 December 2016 to 31 March 2018
Mayland Ventures Limited
Unaudited accounts
Contents
Mayland Ventures Limited
Company Information
for the period from 9 December 2016 to 31 March 2018
Directors
S Kular
L Kular
Company Number
10519282 (England and Wales)
Registered Office
112 STANMORE ROAD
BIRMINGHAM
B16 0SX
UNITED KINGDOM
Accountants
TAXX LIMITED
257 Lichfield Road
Sutton Coldfield
West Midlands
B74 2XD
Mayland Ventures Limited
Statement of financial position
as at
31 March 2018
Investment property
550,371
Cash at bank and in hand
367
Creditors: amounts falling due within one year
(555,520)
Net current liabilities
(555,153)
Called up share capital
100
Profit and loss account
(4,882)
Shareholders' funds
(4,782)
For the period ending 31 March 2018 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 3 September 2018.
S Kular
Director
Company Registration No. 10519282
Mayland Ventures Limited
Notes to the Accounts
for the period from 9 December 2016 to 31 March 2018
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.
These financial statements for the period from 9 December 2016 to 31 March 2018 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 9 December 2016.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
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.
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Investment property
2018
5
Creditors: amounts falling due within one year
2018
Bank loans and overdrafts
390,174
Obligations under finance leases and hire purchase contracts
400
Loans from directors
164,946
Mayland Ventures Limited
Notes to the Accounts
for the period from 9 December 2016 to 31 March 2018
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Directors Loan Account
-
82,473
-
82,473
Directors Loan Account
-
82,473
-
82,473
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Average number of employees
During the period the average number of employees was 2.