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Company registration number:
11080061
42a Mornington Terrace Limited
Unaudited Filleted Financial Statements for the year ended
31 March 2022
42a Mornington Terrace Limited
Report to the board of directors on the preparation of the unaudited statutory financial statements of 42a Mornington Terrace Limited
Year ended
31 March 2022
As described on the statement of financial position, the Board of Directors of
42a Mornington Terrace Limited
are responsible for the preparation of the
financial statements
for the year ended
31 March 2022
, which comprise the income statement, statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006.
In accordance with your instructions I have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to me.
EHA Accountancy Ltd
25 King Street
Ulverston
Cumbria
LA12 7DZ
United Kingdom
42a Mornington Terrace Limited
Statement of Financial Position
31 March 2022
20222021
Note££
Fixed assets    
Investments 5
530,600
 
530,600
 
Current assets    
Debtors 6
3,155
 
2,970
 
Cash at bank and in hand
4,584
 
1,609
 
7,739
 
4,579
 
Creditors: amounts falling due within one year 7
(1,962
) -  
Net current assets
5,777
 
4,579
 
Total assets less current liabilities 536,377   535,179  
Creditors: amounts falling due after more than one year 8
(560,181
)
(552,327
)
Net liabilities
(23,804
)
(17,148
)
Capital and reserves    
Called up share capital
1
 
1
 
Profit and loss account
(23,805
)
(17,149
)
Shareholders deficit
(23,804
)
(17,148
)
For the year ending
31 March 2022
, 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 financial statements for the year in question in accordance with section 476;
  • The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
financial statements
have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies’ regime.
In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
7 August 2022
, and are signed on behalf of the board by:
G Dunn
Director
Company registration number:
11080061
42a Mornington Terrace Limited
Notes to the Financial Statements
Year ended
31 March 2022

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
42 Mornington Terrace
,
London
,
NW1 7RT
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover represents rental income receivable.

Fixed asset investments

Investments in subsidiaries, associates and joint ventures accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.
Investments in subsidiaries, associates and joint ventures accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income or profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.
Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Other fixed asset investments which are listed are measured at fair value with changes in fair value being recognised in profit or loss.
All other Investments held as fixed assets are initially recorded at cost, and are subsequently stated at cost less any accumulated impairment losses.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

4 Average number of employees

The average number of persons employed by the company during the year was Nil (2021: Nil).

5 Investments

Other investments other than loans
£
Cost  
At
1 April 2021
530,600
 
At
31 March 2022
530,600
 
Impairment  
At
1 April 2021
and
31 March 2022
-  
Carrying amount  
At
31 March 2022
530,600
 
At 31 March 2021
530,600
 

6 Debtors

20222021
££
Other debtors
3,155
 
2,970
 

7 Creditors: amounts falling due within one year

20222021
££
Taxation and social security
1,062
  -  
Other creditors
900
  -  
1,962
  -  

8 Creditors: amounts falling due after more than one year

20222021
££
Bank loans and overdrafts
378,424
 
378,452
 
Other creditors
181,757
 
173,875
 
560,181
 
552,327
 
Precise Mortgages hold a mortgage over the freehold property repayable in more than five years.

9 Director's advances, credit and guarantees

There is a loan outstanding to the director of £181,757 (2021: £173,875) at the end of the accounting year.

10 Controlling party

Mr GS Dunn the sole director and shareholder is the ultimate controlling party.