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Registration number: 11176337

Mable Investments Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2023

 

Mable Investments Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Mable Investments Limited

Company Information

Directors

Mrs G R Mable

Mr L Mable

Registered office

Northgate House
North Gate
New Basford
Nottingham
NG7 7BQ

Accountants

RWB CA Limited
Northgate House
North Gate
New Basford
Nottingham
NG7 7BQ

 

Mable Investments Limited

(Registration number: 11176337)
Balance Sheet as at 31 May 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

10,631

216

Investment property

5

1,000,000

-

Investments

6

385

385

 

1,011,016

601

Current assets

 

Debtors

7

27,370

7

Cash at bank and in hand

 

25,116

268,486

 

52,486

268,493

Creditors: Amounts falling due within one year

8

(1,027,498)

(223,566)

Net current (liabilities)/assets

 

(975,012)

44,927

Total assets less current liabilities

 

36,004

45,528

Creditors: Amounts falling due after more than one year

8

(34,063)

(39,841)

Net assets

 

1,941

5,687

Capital and reserves

 

Called up share capital

10

14

14

Retained earnings

1,927

5,673

Shareholders' funds

 

1,941

5,687

 

Mable Investments Limited

(Registration number: 11176337)
Balance Sheet as at 31 May 2023

For the financial year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Directors' 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 directors acknowledge their 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 12 January 2024 and signed on its behalf by:
 

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

Mrs G R Mable
Director

 

Mable Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Northgate House
North Gate
New Basford
Nottingham
NG7 7BQ

These financial statements were authorised for issue by the Board on 12 January 2024.

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Mable Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

Tangible assets

Tangible assets are stated in the balance sheet 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

Computer equipment

25% 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.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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 at the transaction price.

 

Mable Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Mable Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 June 2022

449

449

Additions

10,728

10,728

At 31 May 2023

11,177

11,177

Depreciation

At 1 June 2022

233

233

Charge for the year

313

313

At 31 May 2023

546

546

Carrying amount

At 31 May 2023

10,631

10,631

At 31 May 2022

216

216

5

Investment properties

2023
£

Additions

1,000,000

At 31 May

1,000,000

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

6

Investments

2023
£

2022
£

Investments in subsidiaries

385

385

 

Mable Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

Subsidiaries

£

Cost or valuation

At 1 June 2022

385

Provision

Carrying amount

At 31 May 2023

385

At 31 May 2022

385

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2023

2022

Subsidiary undertakings

Carlyle Road Properties Ltd

Northgate House,
North Gate,
New Basford,
Nottingham,
NG7 7BQ

England and Wales

Ordinary

100%

100%

Subsidiary undertakings

Carlyle Road Properties Ltd

The principal activity of Carlyle Road Properties Ltd is property development.

7

Debtors

2023
£

2022
£

Other debtors

27,370

7

27,370

7

 

Mable Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

6,211

5,144

Amounts owed to group undertakings and undertakings in which the company has a participating interest

11

997,298

15,454

Taxation and social security

 

1,023

1,692

Accruals and deferred income

 

16,617

888

Other creditors

 

6,349

200,388

 

1,027,498

223,566

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

34,063

39,841

2023
£

2022
£

Due after more than five years

After more than five years by instalments

9,221

17,931

-

-

9

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Bank borrowings

6,211

5,144

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

34,063

39,841

 

Mable Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

10

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

7

7

7

7

Ordinary A of £1 each

7

7

7

7

 

14

14

14

14

11

Related party transactions

Summary of transactions with other related parties

A close family member of the director of the company

 During the previous year £200,000 was loaned to Mable Investments Ltd. No interest is being charged on this loan, as it is repayable on demand. The loan has been re-paid during the current year.