IRIS Accounts Production v23.3.1.45 13937365 Board of Directors 24.2.22 28.2.23 28.2.23 0 false true false false true false Fair value model Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh139373652022-02-23139373652023-02-28139373652022-02-242023-02-28139373652022-02-2313937365ns10:Originalns15:EnglandWales2022-02-242023-02-2813937365ns14:PoundSterlingns10:Original2022-02-242023-02-2813937365ns10:Originalns10:Director12022-02-242023-02-2813937365ns10:Original2022-02-242023-02-2813937365ns10:Original2023-02-2813937365ns10:Originalns10:PrivateLimitedCompanyLtd2022-02-242023-02-2813937365ns10:Originalns10:SmallEntities2022-02-242023-02-2813937365ns10:Originalns10:AuditExempt-NoAccountantsReport2022-02-242023-02-2813937365ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-02-242023-02-2813937365ns10:SmallCompaniesRegimeForAccountsns10:Original2022-02-242023-02-2813937365ns10:Originalns10:FullAccounts2022-02-242023-02-2813937365ns10:Originalns10:OrdinaryShareClass12022-02-242023-02-2813937365ns10:Originalns10:Director22022-02-242023-02-2813937365ns10:Originalns10:RegisteredOffice2022-02-242023-02-2813937365ns10:Originalns5:CurrentFinancialInstruments2023-02-2813937365ns10:Originalns5:Non-currentFinancialInstruments2023-02-2813937365ns5:ShareCapitalns10:Original2023-02-2813937365ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-02-2813937365ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-02-2813937365ns10:Originalns10:OrdinaryShareClass12023-02-28
REGISTERED NUMBER: 13937365 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 24 FEBRUARY 2022 TO 28 FEBRUARY 2023

FOR

MABEL GRATO LIMITED

MABEL GRATO LIMITED (REGISTERED NUMBER: 13937365)






CONTENTS OF THE FINANCIAL STATEMENTS
for the period 24 February 2022 to 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MABEL GRATO LIMITED

COMPANY INFORMATION
for the period 24 February 2022 to 28 February 2023







DIRECTORS: M C Cooch
H J Equi





REGISTERED OFFICE: Preston Park House
South Road
Brighton
BN1 6SB





REGISTERED NUMBER: 13937365 (England and Wales)





ACCOUNTANTS: Plus Accounting
Chartered Accountants
Preston Park House
South Road
Brighton
East Sussex
BN1 6SB

MABEL GRATO LIMITED (REGISTERED NUMBER: 13937365)

BALANCE SHEET
28 February 2023

Notes £   
FIXED ASSETS
Investment property 4 452,207

CURRENT ASSETS
Debtors 5 2,000
Cash at bank 1,091
3,091
CREDITORS
Amounts falling due within one year 6 (215,492 )
NET CURRENT LIABILITIES (212,401 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

239,806

CREDITORS
Amounts falling due after more than one
year

7

(249,361

)
NET LIABILITIES (9,555 )

CAPITAL AND RESERVES
Called up share capital 8 100
Retained earnings (9,655 )
SHAREHOLDERS' FUNDS (9,555 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

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.

MABEL GRATO LIMITED (REGISTERED NUMBER: 13937365)

BALANCE SHEET - continued
28 February 2023


The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 21 November 2023 and were signed on its behalf by:





H J Equi - Director


MABEL GRATO LIMITED (REGISTERED NUMBER: 13937365)

NOTES TO THE FINANCIAL STATEMENTS
for the period 24 February 2022 to 28 February 2023

1. STATUTORY INFORMATION

Mabel Grato Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the fair value of consideration received or receivable net of VAT and rental income is recognised on an accruals basis.

Investment property
Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The methods and significant assumptions used to ascertain the fair value at the balance sheet date and fair value movement included in the profit for the year are as follows:

The properties have been valued using an open market valuation by H Equi, the director.

Financial instruments
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 entity after deducting all of its financial liabilities.

Taxation
Taxation for the period 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.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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 period end and that are expected to apply to the reversal of the timing difference.

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.

MABEL GRATO LIMITED (REGISTERED NUMBER: 13937365)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the period 24 February 2022 to 28 February 2023

2. ACCOUNTING POLICIES - continued

Impairment policy
At each balance sheet date, the company reviews the carrying amount of its assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of an asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Going concern
The directors have agreed to support the company as necessary in the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL.

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 452,207
At 28 February 2023 452,207
NET BOOK VALUE
At 28 February 2023 452,207

Investment properties were valued on an open market basis on 28 February 2023 by the director.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other debtors 2,000

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other creditors 215,492

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
£   
Bank loans 249,361

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal
value: £   
100 Ordinary £1 100

100 ordinary shares of £1 each were issued on incorporation.

MABEL GRATO LIMITED (REGISTERED NUMBER: 13937365)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the period 24 February 2022 to 28 February 2023

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year under review key management personnel loaned £214,091 to the company and the company repaid £100. At the balance sheet date the company owed key management personnel £213,991. This amount is repayable on demand, is interest free and is included in other creditors.