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Unaudited Financial Statements for the Year Ended 31 March 2018 |
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Mayo Property Company Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 March 2018 |
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for |
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Mayo Property Company Limited |
Mayo Property Company Limited (Registered number: 02577373) |
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Contents of the Financial Statements |
for the Year Ended 31 March 2018 |
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Page |
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Company Information | 1 |
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Abridged Statement of Financial Position | 2 |
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Notes to the Financial Statements | 4 |
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Mayo Property Company Limited |
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Company Information |
for the Year Ended 31 March 2018 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Jade House |
67 Park Royal Road |
London |
NW10 7JJ |
Mayo Property Company Limited (Registered number: 02577373) |
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Abridged Statement of Financial Position |
31 March 2018 |
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31.3.18 | 31.3.17 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES | 7 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 8 |
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Revaluation reserve | 9 |
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Retained earnings | 9 | ( |
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SHAREHOLDERS' FUNDS |
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The director acknowledges his 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. |
Mayo Property Company Limited (Registered number: 02577373) |
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Abridged Statement of Financial Position - continued |
31 March 2018 |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
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The financial statements were approved by the director on
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Mayo Property Company Limited (Registered number: 02577373) |
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Notes to the Financial Statements |
for the Year Ended 31 March 2018 |
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1. | STATUTORY INFORMATION |
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Mayo Property Company Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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In view of the assumption of continue supports from the long term and short term creditors, the financial statements |
have been prepared on the basis that the company remains a going concern. |
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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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Freehold property | - |
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Improvements to property | - |
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Fixtures & fittings | - |
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Office equipment | - |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
scheme are charged to profit or loss in the period to which they relate. |
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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 |
Totals |
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COST OR VALUATION |
At 1 April 2017 |
and 31 March 2018 |
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DEPRECIATION |
At 1 April 2017 |
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Charge for year |
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At 31 March 2018 |
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NET BOOK VALUE |
At 31 March 2018 |
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At 31 March 2017 |
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Mayo Property Company Limited (Registered number: 02577373) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2018 |
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4. | TANGIBLE FIXED ASSETS - continued |
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Cost or valuation at 31 March 2018 is represented by: |
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Totals |
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Valuation in 2011 | 1,250,000 |
Cost | 235,148 |
1,485,148 |
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If freehold property had not been revalued it would have been included at the following historical cost: |
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31.3.18 | 31.3.17 |
£ | £ |
Cost | 137,266 | 137,266 |
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Freehold property was valued on an open market basis on 19 December 2011 by the director . |
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5. | LOANS |
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An analysis of the maturity of loans is given below: |
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31.3.18 | 31.3.17 |
£ | £ |
Amounts falling due within one year or on demand: |
Other Bank Loans | 645,000 | 665,000 |
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6. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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31.3.18 | 31.3.17 |
£ | £ |
Bank loans |
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Bank loans and overdrafts are secured on the company's properties. |
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7. | PROVISIONS FOR LIABILITIES |
31.3.18 | 31.3.17 |
£ | £ |
Deferred taxation | 222,547 | 222,547 |
Mayo Property Company Limited (Registered number: 02577373) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2018 |
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7. | PROVISIONS FOR LIABILITIES - continued |
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Deferred |
tax |
£ |
Balance at 1 April 2017 |
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Provision not required |
Balance at 31 March 2018 |
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8. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.3.18 | 31.3.17 |
value: | £ | £ |
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Ordinary shares | £1 | 98,482 | 98,482 |
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9. | RESERVES |
Retained | Revaluation |
earnings | reserve | Totals |
£ | £ | £ |
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At 1 April 2017 | ( |
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251,879 |
Deficit for the year | ( |
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At 31 March 2018 | ( |
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249,841 |
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10. | RELATED PARTY DISCLOSURES |
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At the balance sheet date, other debtors included £388 ( 2017- £388 ) due from
HP Property Ltd
and £
500
(
2017-£500 ) due from Turgleplan Ltd , companies of which Mr Ramatalla is also director. |