MNH (Haddington) Limited - Accounts to registrar (filleted) - small 18.1

MNH (Haddington) Limited - Accounts to registrar (filleted) - small 18.1


IRIS Accounts Productionv18.1.2.30SC493482Board of Directors1.10.1630.9.1730.9.17falsetruefalsefalsetruefalseiso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureSC4934822016-09-30SC4934822017-09-30SC4934822016-10-012017-09-30SC4934822015-09-30SC4934822015-10-012016-09-30SC4934822016-09-30SC493482ns15:Scotland2016-10-012017-09-30SC493482ns14:PoundSterling2016-10-012017-09-30SC493482ns10:Director12016-10-012017-09-30SC493482ns10:PrivateLimitedCompanyLtd2016-10-012017-09-30SC493482ns10:SmallEntities2016-10-012017-09-30SC493482ns10:AuditExempt-NoAccountantsReport2016-10-012017-09-30SC493482ns10:SmallCompaniesRegimeForDirectorsReport2016-10-012017-09-30SC493482ns10:SmallCompaniesRegimeForAccounts2016-10-012017-09-30SC493482ns10:FullAccounts2016-10-012017-09-30SC493482ns10:Director22016-10-012017-09-30SC493482ns10:CompanySecretary12016-10-012017-09-30SC493482ns10:RegisteredOffice2016-10-012017-09-30SC493482ns5:CurrentFinancialInstruments2017-09-30SC493482ns5:CurrentFinancialInstruments2016-09-30SC493482ns5:ShareCapital2017-09-30SC493482ns5:ShareCapital2016-09-30SC493482ns5:RetainedEarningsAccumulatedLosses2017-09-30SC493482ns5:RetainedEarningsAccumulatedLosses2016-09-30SC493482ns5:CurrentFinancialInstrumentsns5:WithinOneYear2017-09-30SC493482ns5:CurrentFinancialInstrumentsns5:WithinOneYear2016-09-30SC49348212016-10-012017-09-30


REGISTERED NUMBER: SC493482(Scotland)




















MNH (Haddington) Limited

Unaudited Financial Statements

for the Year Ended 30 September 2017






MNH (Haddington) Limited (Registered number: SC493482)






Contents of the Financial Statements
for the Year Ended 30 September 2017




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MNH (Haddington) Limited

Company Information
for the Year Ended 30 September 2017







DIRECTORS: K D Murdoch
J M Wilkie



SECRETARY: K D Murdoch



REGISTERED OFFICE: 3 Forth Street Lane
North Berwick
EH39 4JB



REGISTERED NUMBER: SC493482(Scotland)



ACCOUNTANTS: Whitelaw Wells
9 Ainslie Place
Edinburgh
Midlothian
EH3 6AT



BANKERS: The Royal Bank of Scotland plc
36 St Andrew Square
Edinburgh
EH2 2AD



SOLICITORS: DLA Piper Scotland LLP
Collins House
Rutland Square
Edinburgh
EH1 2AA

MNH (Haddington) Limited (Registered number: SC493482)

Balance Sheet
30 September 2017

2017 2016
Notes £    £   
CURRENT ASSETS
Stocks 4 810,843 400,245
Debtors 5 309,892 79,766
Cash at bank 54,598 718
1,175,333 480,729
CREDITORS
Amounts falling due within one year 6 1,229,583 496,435
NET CURRENT LIABILITIES (54,250 ) (15,706 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(54,250

)

(15,706

)

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (54,350 ) (15,806 )
SHAREHOLDERS' FUNDS (54,250 ) (15,706 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2017 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.

MNH (Haddington) Limited (Registered number: SC493482)

Balance Sheet - continued
30 September 2017


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 on 27 June 2018and were signed on its
behalf by:





K D Murdoch- Director


MNH (Haddington) Limited (Registered number: SC493482)

Notes to the Financial Statements
for the Year Ended 30 September 2017

1. STATUTORY INFORMATION

MNH (Haddington) Limited is a private company, limited by shares, registered in Scotland. 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A
These financial statements for the year ended 30 September 2017 are the first that are prepared in
accordance with FRS 102 Section 1A. The previous financial statements were prepared in
accordance with UK GAAP, the date of transition to FRS 102 Section 1A is 1 October 2015.

Turnover and revenue recognition
Turnover represents residential property sales, excluding value added tax, and is recognised with
reference to completion date.

Stocks
Stock represents the work in progress incurred on development properties. Properties in progress
at the year end are stated at realisable value, which takes into account any provisions for future
losses.

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.

MNH (Haddington) Limited (Registered number: SC493482)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2017

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial
instruments. Basic financial instruments are initially recognised at transaction value and
subsequently measured at their settlement value.

All loans with related parties are repayable on demand.

Going concern
The financial statements have been prepared on the going concern principle, which assumes that
the company will continue to trade in the foreseeable future. The company requires the support of
its parent company, MNH Limited to continue and this support has been given.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL.

4. STOCKS
2017 2016
£    £   
Stocks 810,843 400,245

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Trade debtors 7,500 78,000
Amounts owed by group undertakings 3,400 -
Other debtors 298,992 1,766
309,892 79,766

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Trade creditors - 80
Amounts owed to group undertakings 227,111 489,640
Taxation and social security - 5,815
Other creditors 1,002,472 900
1,229,583 496,435

MNH (Haddington) Limited (Registered number: SC493482)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2017

7. SECURED DEBTS

The following secured debts are included within creditors:

2017 2016
£    £   
Other creditors 1,000,000 -

There is a standard security charge over the company's property, the George Hotel, Haddington, in
favour of the Hartley Family Investment Partnership.

8. RELATED PARTY DISCLOSURES

LOANS WITH PARENT UNDERTAKING

The company has made a repayment of £262,529 (2016 - received additional funding of £201,799)
to its parent company, this loan is interest free, unsecured and has no fixed repayment term. At the
year end the amount due to the parent company was £227,111 (2016 - £489,640).

LOANS WITH FELLOW SUBSIDIARY UNDERTAKINGS

The company has made a loan of £3,400 (2016 - £Nil) to a fellow subsidiary, this loan is interest
free, unsecured and has no fixed repayment term. At the year end the amount due from the fellow
subsidiary company was £3,400 (2016 - £Nil).

9. POST BALANCE SHEET EVENTS

The development was completed post year end and six apartments have now been sold.

10. FIRST YEAR ADOPTION

In preparing the accounts, the directors have considered whether in applying the accounting
policies required by FRS 102 a restatement of comparative items was needed. No restatements
were required. Accordingly, no reconciliation of opening balances or net income / (expenditure) for
the period has been prepared.