NW MLI (RED LION NO.2) LIMITED
NW MLI (RED LION NO.2) LIMITED
NW MLI (RED LION NO.2) LIMITED
Company Registration Number:
05511176 (England and Wales)
Unaudited statutory accounts for the year ended 30 September 2021
Period of accounts
Start date: 1 April 2020
End date: 30 September 2021
NW MLI (RED LION NO.2) LIMITED
Contents of the Financial Statements
for the Period Ended 30 September 2021
Directors report | |
Profit and loss | |
Balance sheet | |
Additional notes | |
Balance sheet notes |
NW MLI (RED LION NO.2) LIMITED
Directors' report period ended
The directors present their report with the financial statements of the company for the period ended 30 September 2021
Principal activities of the company
Additional information
ResultsThe Company generated a loss for the period of £57,621 (2020: loss of £257,726)Going concernDuring the period the company sold its remaining property to its immediate parent company, NW MLI Livingston Limited, and ceased to trade. It is expected that the company will be dissolved with 12 months of the period end. The financial statements have been prepared on a basis other than that of a going concern.Qualifying 3rd party indemnity provisionThe Company has granted an indemnity to all of its directors against liability in respect of proceedings brought by third parties, subject to the conditions set out in the Companies Act 2006. Such qualifying third party indemnity provision remains in force as at the date of approving the Directors' Report.Directors' responsibilities statementThe directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations.Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the Company for that period.In preparing these financial statements, the directors are required to:select suitable accounting policies and then apply them consistently;make judgments and accounting estimates that are reasonable and prudent;prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Directors
The directors shown below have held office during the period of
1 April 2020 to 29 January 2021
The directors shown below have held office during the period of
29 January 2021 to 30 September 2021
The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006
This report was approved by the board of directors on
And signed on behalf of the board by:
Name:
Status: Director
NW MLI (RED LION NO.2) LIMITED
Profit And Loss Account
for the Period Ended
18 months to 30 September 2021 | 2020 | |
---|---|---|
| £ | £ |
Turnover: | | |
Cost of sales: | ( | ( |
Gross profit(or loss): | | |
Administrative expenses: | | ( |
Operating profit(or loss): | | |
Interest payable and similar charges: | ( | ( |
Profit(or loss) before tax: | | |
Tax: | ( | ( |
Profit(or loss) for the financial year: | | |
NW MLI (RED LION NO.2) LIMITED
Balance sheet
As at
Notes | 18 months to 30 September 2021 | 2020 | |
---|---|---|---|
| £ | £ | |
Current assets | |||
Stocks: | 3 | | |
Debtors: | 4 | | |
Total current assets: | | | |
Creditors: amounts falling due within one year: | 5 | ( | |
Net current assets (liabilities): | | | |
Total assets less current liabilities: | | | |
Creditors: amounts falling due after more than one year: | 6 | ( | |
Total net assets (liabilities): | | ( | |
Capital and reserves | |||
Called up share capital: | | | |
Profit and loss account: | ( | ( | |
Total Shareholders' funds: | | ( |
The notes form part of these financial statements
NW MLI (RED LION NO.2) LIMITED
Balance sheet statements
This report was approved by the board of directors on
and signed on behalf of the board by:
Name:
Status: Director
The notes form part of these financial statements
NW MLI (RED LION NO.2) LIMITED
Notes to the Financial Statements
for the Period Ended 30 September 2021
-
1. Accounting policies
Basis of measurement and preparation
These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102 Turnover policy
Turnover represents income from the sale of development properties at invoiced amounts net of value added tax and arises solely within the United Kingdom. Sales of properties are accounted for when exchanged contracts become unconditional. Profits on pre-sold development properties are only accounted for when all material development risks have passed. Other accounting policies
Basis of preparation of financial statementsThe financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.The financial statements are prepared in Sterling (£), which is the functional currency of the entity.DebtorsShort term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.Going concernDuring the period the company sold its remaining property to its immediate parent company NW MLI Livingston Limited and ceased to trade. It is expected that the Company will be dissolved with 12 months of the period end. The financials statements have been prepared on a basis other than that of a going concern.CreditorsShort term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.Interest costsAll financing costs are recognised in the Statement of Income and Retained Earnings in the year in which they are incurred.Income taxThe taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.StocksStocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition. The stock balance at year end relates to completed developments.Financial instrumentsA financial asset or a financial liability is recognised only when the Company becomes a party to the contractual provisions of the instrument.Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.
NW MLI (RED LION NO.2) LIMITED
Notes to the Financial Statements
for the Period Ended 30 September 2021
-
2. Employees
18 months to 30 September 2021 2020 Average number of employees during the period 0 0
NW MLI (RED LION NO.2) LIMITED
Notes to the Financial Statements
for the Period Ended 30 September 2021
3. Stocks
18 months to 30 September 2021 | 2020 | |
---|---|---|
£ | £ | |
Stocks | | |
Total | | |
NW MLI (RED LION NO.2) LIMITED
Notes to the Financial Statements
for the Period Ended 30 September 2021
4. Debtors
18 months to 30 September 2021 | 2020 | |
---|---|---|
£ | £ | |
Other debtors | | |
Total | |
NW MLI (RED LION NO.2) LIMITED
Notes to the Financial Statements
for the Period Ended 30 September 2021
5. Creditors: amounts falling due within one year note
2020 | ||
---|---|---|
£ | ||
Trade creditors | | |
Accruals and deferred income | | |
Other creditors | | |
Total | |
NW MLI (RED LION NO.2) LIMITED
Notes to the Financial Statements
for the Period Ended 30 September 2021
6. Creditors: amounts falling due after more than one year note
2020 | ||
---|---|---|
£ | ||
Other creditors | | |
Total | |