Company Registration No. 07138513 (England and Wales)
MUTANDERIS 100 LIMITED
(FORMERLY RAVENSBOURNE GATEWAY LIMITED)
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2019
PAGES FOR FILING WITH REGISTRAR
MUTANDERIS 100 LIMITED
(FORMERLY RAVENSBOURNE GATEWAY LIMITED)
CONTENTS
Page
Statement of comprehensive income
1
Statement of financial position
2
Notes to the financial statements
3 - 4
MUTANDERIS 100 LIMITED
(FORMERLY RAVENSBOURNE GATEWAY LIMITED)
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2019
- 1 -
2019
2018
£
£
Administrative expenses
-
(906,853)
Finance costs
-
(234,416)
Other gains and losses
-
4,221,280
Profit before taxation
-
3,080,011
Tax on profit
-
-
Profit for the financial year
-
3,080,011
MUTANDERIS 100 LIMITED
(FORMERLY RAVENSBOURNE GATEWAY LIMITED)
STATEMENT OF FINANCIAL POSITION
AS AT
31 DECEMBER 2019
31 December 2019
- 2 -
2019
2018
Notes
£
£
£
£
Current assets
Trade and other receivables
2
1
1,284
Cash and cash equivalents
-
287
1
1,571
Current liabilities
3
-
(1,570)
Net current assets
1
1
Equity
Called up share capital
4
1
1
For the financial year ended 31 December 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 26 June 2020 and are signed on its behalf by:
Mr A V Hawker
Director
Company Registration No. 07138513
MUTANDERIS 100 LIMITED
(FORMERLY RAVENSBOURNE GATEWAY LIMITED)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2019
- 3 -
1
Accounting policies
Company information
Mutanderis 100 Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Palmerston House, 814 Brighton Road, PURLEY, Surrey, CR8 2BR.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Cash and cash equivalents
Cash and cash equivalents
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.3
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset
, with
the net amounts presented in the financial statements
,
when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest
method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
MUTANDERIS 100 LIMITED
(FORMERLY RAVENSBOURNE GATEWAY LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2019
1
Accounting policies
(Continued)
- 4 -
Basic financial liabilities
Basic financial liabilities, including trade and other payables, bank loans, loans from
fellow group companies and preference shares that are classified as debt, are
initially recognised at transaction price unless the arrangement constitutes a
financing transaction, where the debt instrument is measured at the present value of
the future
paymen
ts discounted at a market rate of interest.
Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective
interest rate method.
Trade payables
are obligations to pay for goods or services that have been acquired
in the ordinary course of business from suppliers. A
m
ounts payable are classified as
current liabilities if payment is due within one year or less. If not, they are presented
as non-current liabilities. Trade payables are recognised initially at transaction price
and subsequently measured at amortised cost using the effective interest method.
1.4
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
2
Trade and other receivables
2019
2018
Amounts falling due within one year:
£
£
Other receivables
1
1,284
3
Current liabilities
2019
2018
£
£
Taxation and social security
-
1,570
4
Called up share capital
2019
2018
£
£
Ordinary share capital
Issued and fully paid
1 Ordinary share of £1 each
1
1