Maidstone Landscapes & Property Services - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04622634 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2018

FOR

MAIDSTONE LANDSCAPES & PROPERTY SERVICES

LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

M J Potter

SECRETARY:

P A Potter

REGISTERED OFFICE:

89 King Street

Maidstone

Kent

ME141BG

BUSINESS ADDRESS:

Belhaven, 88 West Street

Harrietsham

MAIDSTONE

Kent

ME17 1HU

REGISTERED NUMBER:

04622634 (England and Wales)

ACCOUNTANTS:

McCabe Ford Williams

Chartered Accountants

89 King Street

Maidstone

Kent

ME14 1BG

FIXED ASSETS

Tangible assets

5

9,464

11,023

CURRENT ASSETS

Debtors

6

6,985

10,480

Cash at bank

11,669

20,697

18,654

31,177

CREDITORS

Amounts falling due within one year

7

20,657

35,319

NET CURRENT LIABILITIES

(2,003

)

(4,142

)

TOTAL ASSETS LESS CURRENT LIABILITIES

7,461

6,881

PROVISIONS FOR LIABILITIES

1,792

2,094

NET ASSETS

5,669

4,787

CAPITAL AND RESERVES

Called up share capital

8

1

1

Retained earnings

5,668

4,786

SHAREHOLDERS' FUNDS

5,669

4,787

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 31 March 2019 and were signed by:

M J Potter - Director

1.	STATUTORY INFORMATION

Maidstone Landscapes & Property Services 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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

The company meets its day to day working capital requirements through the support of its director who has

pledged his continuing support. He therefore considers it appropriate to prepare financial statements on the

going concern basis. These financial statements do not include any adjustments that would result from a

withdrawal of this support.

Significant judgements and estimates

In the application of the company's accounting policies, management is required to make judgements, estimates

and assumptions about the carrying value of assets and liabilities that are not readily apparent from other

sources. The estimates and underlying assumptions are based on historical experience and other factors that

are considered relevant. Actual results may differ from these estimates. The estimates and underlying

assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period

to which the estimate is revised if the revision affects only that period or in the period of the revision and future

periods if the revision affects both current and future periods. The key sources of estimation uncertainty that

have a significant effect on the amounts recognised in the financial statements are the depreciation charges that

are calculated with reference to the useful economic life of fixed assets.

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax, except in respect of

service contracts where turnover is recognise when the company obtains the right to consideration.

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

-

25% on reducing balance

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on reducing balance

Financial instruments

The company enters into basic financial instruments that result in the recognition of financial assets and

liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and

loans to related parties.

a) Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the

effective interest method, less impairment losses for bad and doubtful debts except where the effect of

discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for

bad and doubtful debts.

b) Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand.

c) Impairment of financial assets

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period

for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is

recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an

asset's carrying amount and the present value of estimated cash flows discounted at the asset's original

effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any

impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference

between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the

company would receive for the asset if it were to be sold at the reporting date.

d) Trade and other creditors

Debt instruments like loans and other accounts receivable and payable are initially measured at present value of

the future payments and subsequently at amortised cost using the effective interest method. Debt instruments

that are payable or receivable within one year, typically trade payables or receivables, are measured, initially

and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or

received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the

payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a

market rate or in case of an outright short-term loan not at market rate, the financial asset or liability is

measured, initially and subsequently, at the present value of the future payments discounted at a market rate of

interest for a similar debt instrument.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when

there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis

or to realise the asset and settle the liability simultaneously.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2017 - 1 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 July 2017

13,107

1,391

26,066

40,564

Additions

1,550

-

-

1,550

At 30 June 2018

14,657

1,391

26,066

42,114

DEPRECIATION

At 1 July 2017

11,922

1,391

16,228

29,541

Charge for year

684

-

2,425

3,109

At 30 June 2018

12,606

1,391

18,653

32,650

NET BOOK VALUE

At 30 June 2018

2,051

-

7,413

9,464

At 30 June 2017

1,185

-

9,838

11,023

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.18

30.6.17

£

£

Trade debtors

6,360

10,010

Prepayments

625

470

6,985

10,480

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.18

30.6.17

£

£

Trade creditors

2,136

11,011

Other taxes and PAYE taxes

1,410

1,140

VAT

3,333

6,202

Director's current account

12,808

16,016

Accrued expenses

970

950

20,657

35,319

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.18

30.6.17

value:

£

£

1

Ordinary

£1

1

1

9.	ULTIMATE CONTROLLING PARTY

The controlling party is M J Potter.