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REGISTERED NUMBER: 11959121 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

MENDOZA INVESTS LIMITED

MENDOZA INVESTS LIMITED (REGISTERED NUMBER: 11959121)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MENDOZA INVESTS LIMITED

COMPANY INFORMATION
for the year ended 30 April 2024







DIRECTOR: D Mendoza





REGISTERED OFFICE: Haines Watts Newcastle
17 Queens Lane
Newcastle
NE1 1RN





REGISTERED NUMBER: 11959121 (England and Wales)





ACCOUNTANTS: Haines Watts
Business Advisors and Accountants
Q Court
3 Quality Street
Edinburgh
EH4 5BP

MENDOZA INVESTS LIMITED (REGISTERED NUMBER: 11959121)

BALANCE SHEET
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 34,779 36,207
Investment property 5 886,897 656,047
921,676 692,254

CURRENT ASSETS
Debtors 6 136 94
Cash at bank and in hand 5,913 890
6,049 984
CREDITORS
Amounts falling due within one year 7 477,802 259,644
NET CURRENT LIABILITIES (471,753 ) (258,660 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

449,923

433,594

CREDITORS
Amounts falling due after more than one
year

8

(480,551

)

(438,396

)

PROVISIONS FOR LIABILITIES 10 (5,919 ) (7,788 )
NET LIABILITIES (36,547 ) (12,590 )

CAPITAL AND RESERVES
Called up share capital 100 100
Non distributable reserves 25,231 24,054
Retained earnings (61,878 ) (36,744 )
SHAREHOLDERS' FUNDS (36,547 ) (12,590 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

MENDOZA INVESTS LIMITED (REGISTERED NUMBER: 11959121)

BALANCE SHEET - continued
30 April 2024


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 director and authorised for issue on 12 August 2024 and were signed by:





D Mendoza - Director


MENDOZA INVESTS LIMITED (REGISTERED NUMBER: 11959121)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 April 2024

1. STATUTORY INFORMATION

Mendoza Invests 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 as modified by the revaluation of certain assets.

At 30 April 2024 the company had net liabilities of £36,547 (2023 - £12,590) and relies on the continued support of the director to finance its day-to-day working requirements. The director considers it appropriate to prepare the financial statements on the going concern basis.

TURNOVER
Turnover represents rental income receivable in the year.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Improvements to property - Nil
Fixtures and fittings - 25% per annum on cost
Computer equipment - 33% per annum on cost

The carrying values of tangible fixed assets are reviewed for impairment on an annual basis.

INVESTMENT PROPERTY
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

MENDOZA INVESTS LIMITED (REGISTERED NUMBER: 11959121)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024

2. ACCOUNTING POLICIES - continued

FINANCIAL INSTRUMENTS
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

Short-term debt instruments, including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

TAXATION
Taxation for the year 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 year 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

MENDOZA INVESTS LIMITED (REGISTERED NUMBER: 11959121)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 May 2023
and 30 April 2024 33,104 5,406 1,999 40,509
DEPRECIATION
At 1 May 2023 - 2,656 1,646 4,302
Charge for year - 1,075 353 1,428
At 30 April 2024 - 3,731 1,999 5,730
NET BOOK VALUE
At 30 April 2024 33,104 1,675 - 34,779
At 30 April 2023 33,104 2,750 353 36,207

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023 656,047
Additions 247,572
Revaluations 850
Impairments (17,572 )
At 30 April 2024 886,897
NET BOOK VALUE
At 30 April 2024 886,897
At 30 April 2023 656,047

Fair value at 30 April 2024 is represented by:
£   
Valuation in 2024 13,578
Cost 873,319
886,897

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 873,319 625,747

Investment property was valued on an open market basis on 30 April 2024 by the director .

Investment property with a carrying value of £886,897 (2023 - £656,047) is pledged as security for company's debt.

MENDOZA INVESTS LIMITED (REGISTERED NUMBER: 11959121)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 136 94

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other creditors 477,802 259,644

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 480,551 438,396

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more than 5 years
non-installments

480,551

438,396

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 480,551 438,396

The Mortgage Works (UK) PLC hold charges which covers all of the investment property.

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 1,656 2,370
Tax losses carried forward (1,656 ) (2,370 )
Revalued assets 5,919 7,788
5,919 7,788

Deferred
tax
£   
Balance at 1 May 2023 7,788
Credit to Income Statement during year (1,869 )
Balance at 30 April 2024 5,919

MENDOZA INVESTS LIMITED (REGISTERED NUMBER: 11959121)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024

11. RELATED PARTY DISCLOSURES

Included in "Other creditors" is an amount of £475,641 (2023 - £257,913) due to the director from the company. The loan is interest free and no repayment terms have agreed.