Mortar Board Ltd 14702984 false 2023-03-03 2024-03-31 2024-03-31 The principal activity of the company is rental of owned or leased property. Digita Accounts Production Advanced 6.30.9574.0 true true 14702984 2023-03-03 2024-03-31 14702984 2024-03-31 14702984 bus:OrdinaryShareClass1 2024-03-31 14702984 core:CurrentFinancialInstruments 2024-03-31 14702984 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 14702984 core:Non-currentFinancialInstruments 2024-03-31 14702984 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 14702984 bus:SmallEntities 2023-03-03 2024-03-31 14702984 bus:AuditExemptWithAccountantsReport 2023-03-03 2024-03-31 14702984 bus:FilletedAccounts 2023-03-03 2024-03-31 14702984 bus:SmallCompaniesRegimeForAccounts 2023-03-03 2024-03-31 14702984 bus:RegisteredOffice 2023-03-03 2024-03-31 14702984 bus:Director1 2023-03-03 2024-03-31 14702984 bus:OrdinaryShareClass1 2023-03-03 2024-03-31 14702984 bus:PrivateLimitedCompanyLtd 2023-03-03 2024-03-31 14702984 bus:Agent1 2023-03-03 2024-03-31 14702984 countries:EnglandWales 2023-03-03 2024-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 14702984

Mortar Board Ltd

Unaudited Filleted Financial Statements

for the Period from 3 March 2023 to 31 March 2024

 

Mortar Board Ltd

Contents

Company Information

1

Accountants' Report

2

Statement of Financial Position

3 to 4

Notes to the Unaudited Financial Statements

5 to 8

 

Mortar Board Ltd

Company Information

Director

G C Stevens

Registered office

D S House
306 High Street
Croydon
Surrey
CR0 1NG

Accountants

DSK Partners LLP
Chartered Certified Accountants
D S House
306 High Street
Croydon
Surrey
CR0 1NG

 

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Mortar Board Ltd
for the Period Ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Mortar Board Ltd for the period ended 31 March 2024 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of Mortar Board Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Mortar Board Ltd and state those matters that we have agreed to state to the Board of Directors of Mortar Board Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Mortar Board Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Mortar Board Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Mortar Board Ltd. You consider that Mortar Board Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of Mortar Board Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

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

DSK Partners LLP
Chartered Certified Accountants
D S House
306 High Street
Croydon
Surrey
CR0 1NG

19 November 2024

 

Mortar Board Ltd

(Registration number: 14702984)
Statement of Financial Position as at 31 March 2024

Note

2024
£

Fixed assets

 

Investment property

4

975,027

Current assets

 

Debtors

5

16,839

Cash at bank and in hand

 

720

 

17,559

Creditors: Amounts falling due within one year

6

(9,287)

Net current assets

 

8,272

Total assets less current liabilities

 

983,299

Creditors: Amounts falling due after more than one year

6

(998,920)

Net liabilities

 

(15,621)

Capital and reserves

 

Called up share capital

7

100

Retained earnings

(15,721)

Shareholders' deficit

 

(15,621)

For the financial period ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his 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 director has not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the director on 19 November 2024
 

 

Mortar Board Ltd

(Registration number: 14702984)
Statement of Financial Position as at 31 March 2024 (continued)

G C Stevens
Director

   
     
 

Mortar Board Ltd

Notes to the Unaudited Financial Statements for the Period from 3 March 2023 to 31 March 2024

1

General information

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

The address of its registered office is:
D S House
306 High Street
Croydon
Surrey
CR0 1NG
England

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.

The presentation currency of the financial statements is Pound Sterling (£) rounded to the nearest Pound.

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.

 

Mortar Board Ltd

Notes to the Unaudited Financial Statements for the Period from 3 March 2023 to 31 March 2024 (continued)

2

Accounting policies (continued)

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.

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.

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 income statement 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.

 

Mortar Board Ltd

Notes to the Unaudited Financial Statements for the Period from 3 March 2023 to 31 March 2024 (continued)

2

Accounting policies (continued)

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.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities, or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
 

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 0.

4

Investment properties

2024
£

Additions

975,027

At 31 March

975,027

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

5

Debtors

Current

Note

2024
£

Amounts owed by related parties

15,100

Other debtors

 

1,739

   

16,839

 

Mortar Board Ltd

Notes to the Unaudited Financial Statements for the Period from 3 March 2023 to 31 March 2024 (continued)

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

Due within one year

 

Amounts owed to group undertakings

6,778

Accruals and deferred income

 

888

Other creditors

 

1,621

 

9,287

Creditors: amounts falling due after more than one year

Note

2024
£

Due after one year

 

Loans and borrowings

8

998,920

7

Share capital

Allotted, called up and fully paid shares

2024

No.

£

Ordinary of £1 each

100

100

   

The company issued 100 Ordinary shares for £1 each.

8

Loans and borrowings

Non-current loans and borrowings

2024
£

Bank borrowings

998,920