IRIS Accounts Production v24.1.0.578 01446631 director 1.4.23 31.3.24 31.3.24 0 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh014466312023-03-31014466312024-03-31014466312023-04-012024-03-31014466312022-03-31014466312022-04-012023-03-31014466312023-03-3101446631ns15:EnglandWales2023-04-012024-03-3101446631ns14:PoundSterling2023-04-012024-03-3101446631ns10:Director12023-04-012024-03-3101446631ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3101446631ns10:SmallEntities2023-04-012024-03-3101446631ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3101446631ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3101446631ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3101446631ns10:FullAccounts2023-04-012024-03-3101446631ns10:CompanySecretary12023-04-012024-03-3101446631ns10:RegisteredOffice2023-04-012024-03-3101446631ns5:CurrentFinancialInstruments2024-03-3101446631ns5:CurrentFinancialInstruments2023-03-3101446631ns5:ShareCapital2024-03-3101446631ns5:ShareCapital2023-03-3101446631ns5:FurtherSpecificReserve1ComponentTotalEquity2024-03-3101446631ns5:FurtherSpecificReserve1ComponentTotalEquity2023-03-3101446631ns5:RetainedEarningsAccumulatedLosses2024-03-3101446631ns5:RetainedEarningsAccumulatedLosses2023-03-3101446631ns5:PlantMachinery2023-04-012024-03-3101446631ns5:FurnitureFittings2023-04-012024-03-3101446631ns5:PlantMachinery2023-03-3101446631ns5:FurnitureFittings2023-03-3101446631ns5:PlantMachinery2024-03-3101446631ns5:FurnitureFittings2024-03-3101446631ns5:PlantMachinery2023-03-3101446631ns5:FurnitureFittings2023-03-3101446631ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3101446631ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-31
REGISTERED NUMBER: 01446631 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Mortarside Limited

Mortarside Limited (Registered number: 01446631)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Mortarside Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: Mr B Sutch





SECRETARY: Mrs J Dyke





REGISTERED OFFICE: Trade Fair House
2 West Court
Enterprise Road
Maidstone
Kent
ME15 6JD





REGISTERED NUMBER: 01446631 (England and Wales)





ACCOUNTANTS: Accsys Accountants (Medway) Limited
F39 Innovation Centre Medway
Chatham
Kent
ME5 9FD

Mortarside Limited (Registered number: 01446631)

Statement of Financial Position
31 March 2024

31.3.24 31.3.23
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 26 33
Investment property 5 560,000 560,000
560,026 560,033

CURRENT ASSETS
Debtors 6 75 75
Cash at bank 46,137 37,987
46,212 38,062
CREDITORS
Amounts falling due within one year 7 14,597 15,590
NET CURRENT ASSETS 31,615 22,472
TOTAL ASSETS LESS CURRENT
LIABILITIES

591,641

582,505

PROVISIONS FOR LIABILITIES 77,895 77,896
NET ASSETS 513,746 504,609

CAPITAL AND RESERVES
Called up share capital 100 100
Non distributable reserves 397,880 397,880
Retained earnings 115,766 106,629
513,746 504,609

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

Mortarside Limited (Registered number: 01446631)

Statement of Financial Position - continued
31 March 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 September 2024 and were signed by:





Mr B Sutch - Director


Mortarside Limited (Registered number: 01446631)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Mortarside 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 (£).


The financial statements relate to the individual entity only.

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.

Turnover
Turnover represents rents receivable on the investment properties for the accounting period under review.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 25% on reducing balance

At each Statement of Financial Position date, the company reviews the carrying amount of its tangible fixed 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.

Investment property
Investment properties are carried at fair value determined annually by the directors with periodic professional valuations. Fair value is derived from the current market rents and investment property yields for comparable real estate adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided.

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 statement of financial position date.


Mortarside Limited (Registered number: 01446631)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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).

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£ £ £
COST
At 1 April 2023
and 31 March 2024 1,691 1,298 2,989
DEPRECIATION
At 1 April 2023 1,675 1,281 2,956
Charge for year 4 3 7
At 31 March 2024 1,679 1,284 2,963
NET BOOK VALUE
At 31 March 2024 12 14 26
At 31 March 2023 16 17 33

5. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 April 2023
and 31 March 2024 560,000
NET BOOK VALUE
At 31 March 2024 560,000
At 31 March 2023 560,000

Fair value at 31 March 2024 is represented by:
£
Valuation in 2024 560,000

Mortarside Limited (Registered number: 01446631)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. INVESTMENT PROPERTY - continued

If the investment properties had not been revalued they would have been included at the following historical cost:

31.3.24 31.3.23
£ £
Cost 84,230 84,230

The investment properties were valued on as open market basis on 31 March 2024 by the director .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£ £
Other debtors 75 75

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£ £
Taxation and social security 6,484 2,527
Other creditors 8,113 13,063
14,597 15,590