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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2021 |
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MORTGAGEZ LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2021 |
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FOR |
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MORTGAGEZ LIMITED |
MORTGAGEZ LIMITED (REGISTERED NUMBER: 11176986) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2021 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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MORTGAGEZ LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 JANUARY 2021 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
7 St John's Road |
Harrow |
Middlesex |
HA1 2EY |
MORTGAGEZ LIMITED (REGISTERED NUMBER: 11176986) |
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BALANCE SHEET |
31 JANUARY 2021 |
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2021 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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( |
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CREDITORS |
Amounts falling due after more than one
year |
7 |
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NET LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | ( |
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( |
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The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
MORTGAGEZ LIMITED (REGISTERED NUMBER: 11176986) |
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BALANCE SHEET - continued |
31 JANUARY 2021 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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MORTGAGEZ LIMITED (REGISTERED NUMBER: 11176986) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2021 |
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1. | STATUTORY INFORMATION |
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Mortgagez Limited is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Going concern: |
The financial statements have been prepared on a going concern basis, notwithstanding net current liabilities at the balance sheet totalling £233,543 (2020: £68,147). The directors consider this basis to be appropriate due to the continuous support from the company's shareholders. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Tangible fixed assets |
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Computer equipment & platform | - |
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Government grants |
The company has recognised £194 as income in the profit and loss account which is business interruption payment received from Bank towards the Bounce Back Loan. |
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Financial instruments |
Financial assets and financial liabilities are recognised in the Company’s balance sheet when the Company |
becomes a party to the contractual provisions of the instrument. |
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Loans and borrowings |
Loans and borrowings are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
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MORTGAGEZ LIMITED (REGISTERED NUMBER: 11176986) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2021 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
& platform |
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COST |
At 1 February 2020 |
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Additions |
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At 31 January 2021 |
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DEPRECIATION |
At 1 February 2020 |
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Charge for year |
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At 31 January 2021 |
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NET BOOK VALUE |
At 31 January 2021 |
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At 31 January 2020 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans and overdrafts (see note 8) |
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Other loans (see note 8) |
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Trade creditors |
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Director's current account | 39,203 | 339,870 |
Accrued expenses |
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MORTGAGEZ LIMITED (REGISTERED NUMBER: 11176986) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2021 |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2021 | 2020 |
£ | £ |
Bank loans (see note 8) |
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Other loans (see note 8) |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank Loans due after more than |
5 years | 735 | - |
735 | - |
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8. | LOANS |
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An analysis of the maturity of loans is given below: |
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2021 | 2020 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank overdrafts |
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Bank loans |
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Loan from Baychester Limited | 3,002 | 77,961 |
Loan from AAA Finance Limited |
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Amounts falling due between one and two years: |
Bank loans - 1-2 years |
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Amounts falling due between two and five years: |
Bank loans - 2-5 years |
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Other loans - 2-5 years |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank Loans due after more than |
5 years | 735 | - |
735 | - |
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During the year, the company received a loan of £11,032 under the Bounce Back Loan Scheme. |
MORTGAGEZ LIMITED (REGISTERED NUMBER: 11176986) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2021 |
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9. | RELATED PARTY DISCLOSURES |
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Included in creditors falling due within one year is an amount of £39,203 (2020: £339,870) due to V Roda, director of the company. |
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Included in creditors falling due more than one year is an amount of £300,000 due to V Roda, director of the company. |
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Included in creditors falling due more than one year is an amount of £100,000 due to Baychester Limited, a company in which R A Seth, director of the company, has material interest. |