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Registration number: 08765396

Mansfield Land Development Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

 

Mansfield Land Development Limited

Contents

Company Information

1

Directors' Report

2

Profit and Loss Account

3

Balance Sheet

4 to 5

Statement of Changes in Equity

6

Notes to the Financial Statements

7 to 11

 

Mansfield Land Development Limited

Company Information

Directors

Mr P J Caldwell

Mrs B M Caldwell

Company secretary

Mr P J Caldwell

Registered office

Unit 1 Office 1
Tower Lane Business Park
Tower Lane
Warmley
Bristol
BS30 8XT

Accountants

Ross & Partners (Bristol) Limited
Accountants and Tax Consultants
Unit 1, Office 1
Tower Lane Business Park
Tower Lane
Warmley
Bristol
BS30 8XT

 

Mansfield Land Development Limited

Directors' Report for the Year Ended 31 December 2023

The directors present their report and the financial statements for the year ended 31 December 2023.

Directors of the company

The directors who held office during the year were as follows:

Mr P J Caldwell - Company secretary and director

Mrs B M Caldwell

Principal activity

The principal activity of the company is that of a commercial landlord.

Small companies provision statement

This report has 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.

Approved and authorised by the Board on 27 September 2024 and signed on its behalf by:
 

.........................................
Mr P J Caldwell
Company secretary and director

 

Mansfield Land Development Limited

Profit and Loss Account for the Year Ended 31 December 2023

Note

2023
£

2022
£

Turnover

 

-

-

Gross profit/(loss)

 

-

-

Administrative expenses

 

(23,268)

-

Operating loss

 

(23,268)

-

Interest payable and similar expenses

 

(14,301)

-

Loss before tax

(37,569)

-

Loss for the financial year

 

(37,569)

-

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Mansfield Land Development Limited

(Registration number: 08765396)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

3

144,156

1

Current assets

 

Debtors

4

92,449

38,214

Cash at bank and in hand

 

2,205

12

 

94,654

38,226

Creditors: Amounts falling due within one year

5

(241,289)

(3,137)

Net current (liabilities)/assets

 

(146,635)

35,089

Net (liabilities)/assets

 

(2,479)

35,090

Capital and reserves

 

Called up share capital

6

50,000

50,000

Retained earnings

(52,479)

(14,910)

Shareholders' (deficit)/funds

 

(2,479)

35,090

For the financial year ending 31 December 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.

 

Mansfield Land Development Limited

(Registration number: 08765396)
Balance Sheet as at 31 December 2023

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.

Approved and authorised by the Board on 27 September 2024 and signed on its behalf by:
 

.........................................
Mr P J Caldwell
Company secretary and director

 

Mansfield Land Development Limited

Statement of Changes in Equity for the Year Ended 31 December 2023

Share capital
£

Profit and loss account
£

Total
£

At 1 January 2023

50,000

(14,910)

35,090

Loss for the year

-

(37,569)

(37,569)

Total comprehensive income

-

(37,569)

(37,569)

At 31 December 2023

50,000

(52,479)

(2,479)

Share capital
£

Profit and loss account
£

Total
£

At 1 January 2022

50,000

(14,910)

35,090

At 31 December 2022

50,000

(14,910)

35,090

 

Mansfield Land Development Limited

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

1

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.

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

Freehold property

Not applicable

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Mansfield Land Development Limited

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

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 initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

2

Staff numbers

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

 

Mansfield Land Development Limited

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

3

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 January 2023

1

1

Additions

144,155

144,155

At 31 December 2023

144,156

144,156

Depreciation

Carrying amount

At 31 December 2023

144,156

144,156

At 31 December 2022

1

1

Included within the net book value of land and buildings above is £1 (2022 - £1) in respect of freehold land and buildings and £144,155 (2022 - £Nil) in respect of long leasehold land and buildings.
 

4

Debtors

2023
£

2022
£

Prepayments

-

714

Other debtors

92,449

37,500

92,449

38,214

5

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7

220,352

-

Trade creditors

 

5,420

-

Taxation and social security

 

452

-

Accruals and deferred income

 

2,925

240

Other creditors

 

12,140

2,897

 

241,289

3,137

 

Mansfield Land Development Limited

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

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

50,000

50,000

50,000

50,000

         

Allotted, called up and not fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

37,500

37,500

37,500

37,500

         

7

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Bank borrowings

220,352

-

8

Related party transactions

Loans to related parties

2023

Key management
£

Total
£

Advanced

55,892

55,892

Repaid

(447)

(447)

At end of period

55,445

55,445

 

Mansfield Land Development Limited

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

Loans from related parties

2023

Key management
£

Total
£

At start of period

397

397

Repaid

(397)

(397)

At end of period

-

-

2022

Key management
£

Total
£

At start of period

397

397

At end of period

397

397