The Mortgage Company (London & Essex) Ltd 30/04/2023 iXBRL

The Mortgage Company (London & Essex) Ltd 30/04/2023 iXBRL

THE MORTGAGE COMPANY (LONDON & ESSEX) LTD - Company Information

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2 30/04/2023 2023-04-30 false false false false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2022-05-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 11946321 2022-05-01 2023-04-30 11946321 2023-04-30 11946321 2022-04-30 11946321 2021-05-01 2022-04-30 11946321 2022-04-30 11946321 core:FurnitureFittingsToolsEquipment 2022-05-01 2023-04-30 11946321 bus:RegisteredOffice 2022-05-01 2023-04-30 11946321 bus:LeadAgentIfApplicable 2022-05-01 2023-04-30 11946321 bus:Director1 2022-05-01 2023-04-30 11946321 bus:Director2 2022-05-01 2023-04-30 11946321 core:FurnitureFittingsToolsEquipment 2022-04-30 11946321 core:FurnitureFittingsToolsEquipment 2023-04-30 11946321 core:WithinOneYear 2023-04-30 11946321 core:WithinOneYear 2022-04-30 11946321 core:ShareCapital 2023-04-30 11946321 core:ShareCapital 2022-04-30 11946321 core:RetainedEarningsAccumulatedLosses 2023-04-30 11946321 core:RetainedEarningsAccumulatedLosses 2022-04-30 11946321 core:FurnitureFittingsToolsEquipment 2022-04-30 11946321 bus:SmallEntities 2022-05-01 2023-04-30 11946321 bus:AuditExempt-NoAccountantsReport 2022-05-01 2023-04-30 11946321 bus:FullAccounts 2022-05-01 2023-04-30 11946321 bus:SmallCompaniesRegimeForAccounts 2022-05-01 2023-04-30 11946321 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 11946321 1 2022-05-01 2023-04-30
Company registration number: 11946321
The Mortgage Company (London & Essex) Ltd
Unaudited filleted financial statements
30 April 2023
The Mortgage Company (London & Essex) Ltd
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
The Mortgage Company (London & Essex) Ltd
Directors and other information
Directors Mr Paul Meredith
Ms Lucy Palmer
Company number 11946321
Registered office 40 Orford Road
Walthamstow
E17 9NJ
Accountants Hill Allen (Wickford) Ltd
Office 1 Riverside Court
24 Lower Southend Road
Wickford
SS11 8AW
Bankers Barclays
Chelmsford 2 Branch
Leicester
LE87 2BB
The Mortgage Company (London & Essex) Ltd
Statement of financial position
30 April 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 594 1,458
_______ _______
594 1,458
Current assets
Cash at bank and in hand 27,074 33,208
_______ _______
27,074 33,208
Creditors: amounts falling due
within one year 6 ( 27,133) ( 30,444)
_______ _______
Net current (liabilities)/assets ( 59) 2,764
_______ _______
Total assets less current liabilities 535 4,222
_______ _______
Net assets 535 4,222
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 435 4,122
_______ _______
Shareholders funds 535 4,222
_______ _______
For the year ending 30 April 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 25 January 2024 , and are signed on behalf of the board by:
Mr Paul Meredith
Director
Company registration number: 11946321
The Mortgage Company (London & Essex) Ltd
Notes to the financial statements
Year ended 30 April 2023
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 40 Orford Road, Walthamstow, E17 9NJ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 33 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
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.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 May 2022 5,897 5,897
Additions 535 535
_______ _______
At 30 April 2023 6,432 6,432
_______ _______
Depreciation
At 1 May 2022 4,440 4,440
Charge for the year 1,398 1,398
_______ _______
At 30 April 2023 5,838 5,838
_______ _______
Carrying amount
At 30 April 2023 594 594
_______ _______
At 30 April 2022 1,457 1,457
_______ _______
6. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 5,000 5,520
Corporation tax 17,976 19,914
Social security and other taxes 149 702
Other creditors 4,008 4,308
_______ _______
27,133 30,444
_______ _______
7. Controlling party
The company is controlled by the director P Meredith .