Maxistaff Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04467344 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 August 2018

for

Maxistaff Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

6

DIRECTORS:

Mr P G M Cowing

Mrs J Cowing

REGISTERED OFFICE:

249 Rawlinson Street

Barrow-in-Furness

Cumbria

LA14 1DW

REGISTERED NUMBER:

04467344 (England and Wales)

ACCOUNTANTS:

R F Miller & Co

Chartered Accountants

102 Duke Street

Barrow in Furness

Cumbria

LA14 1RD

FIXED ASSETS

Tangible assets

4

19,522

7,570

CURRENT ASSETS

Stocks

1,100

1,100

Debtors

5

49,616

43,907

Cash at bank and in hand

49,633

63,015

100,349

108,022

CREDITORS

Amounts falling due within one year

6

46,678

54,265

NET CURRENT ASSETS

53,671

53,757

TOTAL ASSETS LESS CURRENT LIABILITIES

73,193

61,327

PROVISIONS FOR LIABILITIES

3,709

1,514

NET ASSETS

69,484

59,813

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

8

69,384

59,713

SHAREHOLDERS' FUNDS

69,484

59,813

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2018 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.

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 22 March 2019 and were signed on its behalf by:

Mr P G M Cowing - Director

1.	STATUTORY INFORMATION

Maxistaff Limited 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.

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.

Turnover

Turnover from the sale of window blinds is recognised when significant risks and rewards of ownership of the

goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the

economic benefits associated with the transaction will flow to the company and the costs incurred or to be

incurred in respect of the transaction can be measured reliably. This is usually on shop sales.

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 reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% straight line basis

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2017 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 September 2017

9,073

17,045

11,195

3,775

41,088

Additions

-

3,180

13,995

-

17,175

Disposals

-

-

(11,195

)

-

(11,195

)

At 31 August 2018

9,073

20,225

13,995

3,775

47,068

DEPRECIATION

At 1 September 2017

8,562

12,252

9,203

3,501

33,518

Charge for year

128

1,795

1,166

142

3,231

Eliminated on disposal

-

-

(9,203

)

-

(9,203

)

At 31 August 2018

8,690

14,047

1,166

3,643

27,546

NET BOOK VALUE

At 31 August 2018

383

6,178

12,829

132

19,522

At 31 August 2017

511

4,793

1,992

274

7,570

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

49,359

43,769

Prepayments

257

138

49,616

43,907

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

26,055

23,983

Tax

8,427

17,868

Social security and other taxes

602

618

VAT

8,101

9,037

Directors' current accounts

594

334

Accrued expenses

2,899

2,425

46,678

54,265

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

100

Ordinary

£1

100

100

8.

RESERVES

Retained

earnings

£

At 1 September 2017

59,713

Profit for the year

45,671

Dividends

(36,000

)

At 31 August 2018

69,384

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included within creditors are amounts due to the directors of £594 (2017: £334). The directors' loan account

was not overdrawn at any time during the current or previous years.

10.	RELATED PARTY DISCLOSURES

During the year Mr P G M Cowing and Mrs J Cowing jointly received a dividend of £36,000 (2017: £50,320).

The company trades from premises owned by Mr P G M Cowing. No rent is payable for this or the prior period.

11.	ULTIMATE CONTROLLING PARTY

The company was under the control of Mr and Mrs P G M Cowing during the current and previous periods. Mr P

G M Cowing is the managing director and together with his wife owns all of the issued share capital of the

company.

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to

file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements

and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Maxistaff Limited for the year ended 31 August 2018 which comprise the Income Statement,

Balance Sheet and the related notes from the company's accounting records and from information and explanations

you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Maxistaff Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Maxistaff Limited and state those matters that we have agreed to state to the Board of Directors of Maxistaff Limited, as a body, in this report in accordance with icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Maxistaff Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Maxistaff Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Maxistaff Limited. You consider that Maxistaff Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Maxistaff Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

R F Miller & Co

Chartered Accountants

102 Duke Street

Barrow in Furness

Cumbria

LA14 1RD

22 March 2019