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Unaudited Financial Statements for the Year Ended 29 November 2020 |
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Monckton Developments Limited |
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Unaudited Financial Statements for the Year Ended 29 November 2020 |
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for |
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Monckton Developments Limited |
Monckton Developments Limited (Registered number: 11092350) |
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Contents of the Financial Statements |
for the Year Ended 29 November 2020 |
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Page |
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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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Monckton Developments Limited |
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Company Information |
for the Year Ended 29 November 2020 |
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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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24-26 Mansfield Road |
Rotherham |
South Yorkshire |
S60 2DT |
Monckton Developments Limited (Registered number: 11092350) |
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Balance Sheet |
29 November 2020 |
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2020 | 2019 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 3 |
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CURRENT ASSETS |
Stocks |
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Debtors | 4 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 5 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT 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. |
Monckton Developments Limited (Registered number: 11092350) |
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Balance Sheet - continued |
29 November 2020 |
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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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Monckton Developments Limited (Registered number: 11092350) |
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Notes to the Financial Statements |
for the Year Ended 29 November 2020 |
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1. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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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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Stocks |
Work in progress is valued at the lower of cost and net realisable value. |
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Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
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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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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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2. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2019 - NIL). |
Monckton Developments Limited (Registered number: 11092350) |
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Notes to the Financial Statements - continued |
for the Year Ended 29 November 2020 |
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3. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 30 November 2019 |
and 29 November 2020 |
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DEPRECIATION |
At 30 November 2019 |
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Charge for year |
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At 29 November 2020 |
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NET BOOK VALUE |
At 29 November 2020 |
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At 29 November 2019 |
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4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Other debtors |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade creditors |
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Other creditors |
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6. | CONTINGENT LIABILITIES |
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On 7th June 2018, David Hopkinson Limited was party to a contract as joint, unsecured cross company guarantor for the purchase of land for £1.25m. Within the £1.25m purchase price, there is deferred consideration of £1m, of which MHH Contracting Limited is a joint and several guarantor. The deferred payment has a five year longevity, however, the directors do not expect this guarantee to be called upon, as the associated asset will be realised within this period. |
Monckton Developments Limited (Registered number: 11092350) |
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Notes to the Financial Statements - continued |
for the Year Ended 29 November 2020 |
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7. | RELATED PARTY DISCLOSURES |
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At the balance sheet date there is a balance owing of £168,863 (2019: £186,363) to MHH Contracting Limited. This loan is interest free and repayable on demand. This company is under the control of the directors and their family. |
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At the balance sheet date there is a balance owing of £170,637 (2019: £188,137) to David Hopkinson Limited. This loan is interest free and repayable on demand. This company is under the control of Mr R.D Hopkinson, Mr C.J Hopkinson and Mrs S Hopkinson. |
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At the balance sheet date there is a balance owing of £467,912 (2019: £144,912) to Maltby Restoration Limited. This loan is interest free and repayable on demand. This company is under the control of the directors and their family. |
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At the balance sheet date there is a balance owing of £4,000 (2019: £Nil) to Maltby Management Limited. This loan is interest free and repayable on demand. This company is under the control of the directors and their family. |