Map Archaeological Practice Ltd. - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07657395 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2018

FOR

MAP ARCHAEOLOGICAL PRACTICE LTD.

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs P A Ware

REGISTERED OFFICE:

The Croft

East Street

Swinton

Malton

North Yorkshire

YO17 6SH

REGISTERED NUMBER:

07657395 (England and Wales)

ACCOUNTANTS:

Townsend Harrison Limited

13 Yorkersgate

Malton

North Yorkshire

YO17 7AA

FIXED ASSETS

Tangible assets

5

51,314

41,641

Investments

6

36,000

36,000

87,314

77,641

CURRENT ASSETS

Debtors

7

493,355

330,960

Cash at bank

184,588

60,548

677,943

391,508

CREDITORS

Amounts falling due within one year

8

298,829

183,390

NET CURRENT ASSETS

379,114

208,118

TOTAL ASSETS LESS CURRENT LIABILITIES

466,428

285,759

CREDITORS

Amounts falling due after more than one year

9

(386

)

(4,304

)

PROVISIONS FOR LIABILITIES

(9,942

)

(7,937

)

NET ASSETS

456,100

273,518

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

456,090

273,508

SHAREHOLDERS' FUNDS

456,100

273,518

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

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 director on 23 January 2019 and were signed by:

Mrs P A Ware - Director

1.	STATUTORY INFORMATION

Map Archaeological Practice Ltd. is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

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

2.	STATEMENT OF COMPLIANCE

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. There were no material departures from that standard.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The principal accounting policies adopted in the preparation of the financial statements are set out below and

have remained unchanged from the previous year and also have been consistently applied within the same

accounts. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

Basic financial instruments

A financial asset held as an equity instrument is recognised initially at the transaction price (including

transaction costs).

At the end of each reporting period, unlisted equity investments are recorded at fair value, where appropriate,

or at cost less impairment if their fair value cannot be reliably measured. Objective evidence of the impairment

of financial assets is assessed at each period end and any impairment loss recognised in the profit or loss

immediately. Impairment loss is calculated as the difference between the carrying amount of the instrument

and the best estimate of the cash flows expected to be derived from the asset (including sales proceeds if sold)

at the balance sheet date.

Investment income is recognised in the financial statements when the company becomes entitled to its share

of profits from the financial instrument.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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.

Hire purchase and leasing commitments

Assets obtained under the hire purchase contracts are capitalised as tangible assets and depreciated over their

useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to

the future years. The finance element of the rental payment is charged to the profit and loss account so as to

produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rental payable under operating leases are charged against income on a straight line basis over the lease term.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's

pension scheme are charged to profit or loss in the period to which they relate.

Revenue recognition

Revenue is recognised as earned when, and to the extent that, the company obtains the right to consideration

in exchange for the supply of goods and services that it provides. It is measured at the fair value of the right to

consideration, which represents amounts chargeable to customers.

Trust

The company has created a trust whose beneficiaries will include employees of the company and their

dependents. Assets held under this trust will be controlled by trustees who will be acting independently and

entirely at their own discretion.

Where assets are held in the trust and these are considered by the company to be in respect of services

already provided by employees to the company, the company will account for these as assets of the trust

when payment is made to the trust. The value transferred will be charged in the company's profit and loss

account for the year in which it relates.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2017 - 22 ) .

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 June 2017

88,893

Additions

23,612

At 31 May 2018

112,505

DEPRECIATION

At 1 June 2017

47,252

Charge for year

13,939

At 31 May 2018

61,191

NET BOOK VALUE

At 31 May 2018

51,314

At 31 May 2017

41,641

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 June 2017

and 31 May 2018

36,000

NET BOOK VALUE

At 31 May 2018

36,000

At 31 May 2017

36,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

441,838

322,552

Other debtors

51,517

8,408

493,355

330,960

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Hire purchase contracts

4,441

4,628

Payments on account

1,400

1,167

Trade creditors

23,011

7,276

Taxation and social security

185,951

82,533

Other creditors

84,026

87,786

298,829

183,390

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Hire purchase contracts

386

4,304

10.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Hire purchase contracts

4,827

8,932

Amounts owing on hire purchase contracts are secured against the asset to which the contract relates.

11.	OTHER FINANCIAL COMMITMENTS

At 31 May 2018 the company had total commitments under operating leases expiring within 2 - 5 years of

£36,000 (2017: £54,000).

12.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2018 and

31 May 2017:

2018

2017

£

£

Mrs P A Ware

Balance outstanding at start of year

(5,481

)

(74,738

)

Amounts advanced

124,819

91,727

Amounts repaid

(72,252

)

(22,470

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

47,086

(5,481

)

The above loan is unsecured and repayable on demand. Interest was charged at 2.5% (2017: 3% until 5 April

2017 and 2.5% thereafter) on any overdrawn balances during the year. The maximum overdrawn balance

during the year was £54,151 (2017: £7,305).

Included in other debtors is an amount of £47,086 in respect of Mrs P A Ware's overdrawn Director's Loan

Account at 31 May 2018.

13.	RELATED PARTY DISCLOSURES

During the year, total dividends of £47,500 were paid to the director .