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Registration number: 02905786

Mably Investment Limited

Filleted Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2018

HSJ Accountants Ltd
Severn House
Hazell Drive
Newport
South Wales
NP10 8FY

 

Mably Investment Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Statement of Changes in Equity

4

Notes to the Financial Statements

5 to 8

 

Mably Investment Limited

Company Information

Director

Mrs SK Fairclough

Company secretary

Mrs SK Fairclough

Registered office

Fairoak Cottage
Cefn Mably
Cardiff
South Wales
CF3 6LP


 

Accountants

HSJ Accountants Ltd
Severn House
Hazell Drive
Newport
South Wales
NP10 8FY

 

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Mably Investment Limited
for the Year Ended 31 March 2018

As described on the balance sheet you are responsible for the compilation of the accounts for the year ended 31 March 2018, as set out on pages 3 to 8, and you consider that the company is exempt from an audit. In accordance with your instructions we have compiled the unaudited accounts from the accounting records and from information and explanations supplied to us.














HSJ Accountants Ltd
Severn House
Hazell Drive
Newport
South Wales
NP10 8FY

9 October 2018

 

Mably Investment Limited

(Registration number: 02905786)
Balance Sheet as at 31 March 2018

Note

2018
£

2017
£

Fixed assets

 

Investment property

5

892,310

892,310

Current assets

 

Debtors

6

11,178

-

Cash at bank and in hand

 

227,606

243,235

 

238,784

243,235

Creditors: Amounts falling due within one year

7

(1,839)

(4,110)

Net current assets

 

236,945

239,125

Net assets

 

1,129,255

1,131,435

Capital and reserves

 

Called up share capital

8

100

100

Profit and loss account

1,129,155

1,131,335

Total equity

 

1,129,255

1,131,435

For the financial year ending 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 9 October 2018
 

.........................................

Mrs SK Fairclough

Director

 

Mably Investment Limited

Statement of Changes in Equity for the Year Ended 31 March 2018

Share capital
£

Profit and loss account
£

Total
£

At 1 April 2017

100

1,131,335

1,131,435

Loss for the year

-

(2,180)

(2,180)

Total comprehensive income

-

(2,180)

(2,180)

At 31 March 2018

100

1,129,155

1,129,255

Share capital
£

Profit and loss account
£

Total
£

At 1 April 2016

100

1,122,355

1,122,455

Profit for the year

-

8,980

8,980

Total comprehensive income

-

8,980

8,980

At 31 March 2017

100

1,131,335

1,131,435

Profit and loss account includes £443,904 (2017 - £443,904) which is non-distributable.

 

Mably Investment Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

1

General information

The company registration number is: 02905786

The company is a private company limited by share capital incorporated in United Kingdom.

The address of its registered office is:
Fairoak Cottage
Cefn Mably
Cardiff
South Wales
CF3 6LP

These financial statements were authorised for issue by the director on 9 October 2018.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

10% straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

 

Mably Investment Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2017 - 1).

 

Mably Investment Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

4

Tangible assets

Fixtures and fittings
 £

Total
£

Cost or valuation

At 1 April 2017

14,286

14,286

At 31 March 2018

14,286

14,286

Depreciation

At 1 April 2017

14,286

14,286

At 31 March 2018

14,286

14,286

Carrying amount

At 31 March 2018

-

-

At 31 March 2017

-

-

5

Investment properties

2018
£

At 1 April

892,310

At 31 March

892,310

The directors consider that the investment properties are carried at fair value.

There has been no valuation of investment property by an independent valuer.

The director has not provided for deferred tax in the accounts as she believes there will be no capital gain arising on the revalued property.

6

Debtors

2018
£

2017
£

Other debtors

11,178

-

7

Creditors

 

Mably Investment Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

2018
£

2017
£

Due within one year

Corporation tax

-

2,271

Directors' current accounts

669

669

Accruals and deferred income

1,170

1,170

1,839

4,110

8

Share capital

Allotted, called up and fully paid shares

 

2018

2017

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

         

9

Related party transactions

Key management personnel

Relationship: Director

Summary of transactions with key management

At the balance sheet date the amount due to the director was £669 (2017 - £669).
 

Summary of transactions with other related parties

Relationship: Common shareholder
 During the year the company charged rent to its related party amounting to £nil (2017 - £10,000). At the balance sheet date the amount due to the related party was £nil (2017 - £nil).