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REGISTERED NUMBER: 06562066 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Mentro Developments Limited

Mentro Developments Limited (Registered number: 06562066)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Mentro Developments Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mr M E Williams
Mr I LL Williams





SECRETARY: Mr I LL Williams





REGISTERED OFFICE: Adeilad St David's Building
Stryd Lombard Street
Porthmadog
Gwynedd
LL49 9AP





REGISTERED NUMBER: 06562066 (England and Wales)





ACCOUNTANTS: Dunn & Ellis Cyf
Chartered Accountants
Adeilad St David's Building
Stryd Lombard Street
Porthmadog
Gwynedd
LL49 9AP

Mentro Developments Limited (Registered number: 06562066)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 300,000 300,000

CURRENT ASSETS
Debtors 5 87,050 87,050
Cash at bank 996 1,852
88,046 88,902
CREDITORS
Amounts falling due within one year 6 66,804 67,530
NET CURRENT ASSETS 21,242 21,372
TOTAL ASSETS LESS CURRENT
LIABILITIES

321,242

321,372

CREDITORS
Amounts falling due after more than one
year

7

(137,047

)

(138,611

)

PROVISIONS FOR LIABILITIES (33,226 ) (33,226 )
NET ASSETS 150,969 149,535

CAPITAL AND RESERVES
Called up share capital 100 100
Non-distributable reserve 9 141,646 101,646
Retained earnings 9,223 47,789
SHAREHOLDERS' FUNDS 150,969 149,535

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

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

Mentro Developments Limited (Registered number: 06562066)

Balance Sheet - continued
31 December 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 25 September 2024 and were signed on its behalf by:





Mr I LL Williams - Director


Mentro Developments Limited (Registered number: 06562066)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Mentro Developments 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

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 (2022 - NIL).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 300,000
NET BOOK VALUE
At 31 December 2023 300,000
At 31 December 2022 300,000

Mentro Developments Limited (Registered number: 06562066)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. INVESTMENT PROPERTY - continued

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2016 34,872
Valuation in 2017 50,000
Valuation in 2018 (10,000 )
Valuation in 2019 40,000
Valuation in 2021 40,000
Valuation in 2022 20,000
Cost 125,128
300,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Other debtors 87,050 87,050

The Other debtors as stated above comprises of the following amounts, owed to the following Companies:

£47,050.02 - Elis Williams Construction Ltd, in which Mr M E Williams is a Director;
£40,000- Felin Properties Ltd in which both Mr M E Williams and Mr I LL Williams are Directors.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 3,051 4,538
Trade creditors 1,041 626
Taxation and social security 336 1,041
Other creditors 62,376 61,325
66,804 67,530

The Other creditors as stated above includes the following amounts, owed to the following Companies:

£150 - EJW Properties Limited, in which Mr M E Williams is a Director;
£10,000 - Iori Limited, in which Mr I LL Williams is a Director.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 137,047 138,611

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 124,843 120,459

Mentro Developments Limited (Registered number: 06562066)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

8. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank loans 140,098 143,149

The following mortgage charges have been registered on the company's record on Companies House:

8th January, 2015 - Handelsbanken - 18 Norbury Avenue
8th January, 2015 - Handelsbanken - Floating charge
9th August, 2018- Paragon Bank PLC- 18 Norbury Avenue

9. RESERVES
Non-distributable
reserve
£   
At 1 January 2023 101,646
Revaluation 40,000

At 31 December 2023 141,646

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The directors loan account was in credit throughout the year in 2022 and this did not change in 2023.

11. RELATED PARTY DISCLOSURES

No dividends were allocated during the year.

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party are both directors.