John Monaghan Limited - Accounts to registrar (filleted) - small 18.2
John Monaghan Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
JOHN MONAGHAN LIMITED |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
JOHN MONAGHAN LIMITED (REGISTERED NUMBER: 05596955) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
JOHN MONAGHAN LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants |
& Statutory Auditors |
531 Denby Dale Road West |
Calder Grove |
Wakefield |
West Yorkshire |
WF4 3ND |
BANKERS: |
Leeds Park Row Branch |
27 Park Row |
Leeds |
West Yorkshire |
LS1 5QB |
JOHN MONAGHAN LIMITED (REGISTERED NUMBER: 05596955) |
ABRIDGED BALANCE SHEET |
31 DECEMBER 2018 |
2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
Investments | 6 |
CURRENT ASSETS |
Debtors |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
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 Board of Directors on |
JOHN MONAGHAN LIMITED (REGISTERED NUMBER: 05596955) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
1. | STATUTORY INFORMATION |
John Monaghan Limited is a |
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 |
The accounts have been prepared on the going concern basis despite liabilities exceeding assets by £114,969 at |
the balance sheet date. The basis is considered appropriate and assumes the continued support of the bank and |
the company directors. |
Turnover |
Turnover comprises the value of sales (net of value added tax, similar taxes and trade discounts) of goods and |
services provided in the normal course of business. Turnover is recognised when the goods are despatched, |
which is the same day on which the goods are delivered and hence is the point at which the risks and rewards of |
ownership pass to the buyer. |
Goodwill |
Goodwill, being the amount paid in connection with the acquisition of businesses in 2007 and 2010, are being |
amortised evenly over their estimated useful life of five years. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost |
less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Plant and machinery | - |
Fixtures and fittings | - |
Computer equipment | - |
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. |
JOHN MONAGHAN LIMITED (REGISTERED NUMBER: 05596955) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
2. | ACCOUNTING POLICIES - continued |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at |
the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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 |
4. | INTANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 January 2018 |
and 31 December 2018 |
AMORTISATION |
At 1 January 2018 |
and 31 December 2018 |
NET BOOK VALUE |
At 31 December 2018 |
At 31 December 2017 |
Goodwill arose on the purchase of unincorporated businesses in 2007 and 2010 and are being amortised over |
five years. In the opinion of the directors, this represents a prudent estimate of the period over which the |
company will derive economic benefit from the products acquired as part of them businesses. |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Computer |
machinery | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 January 2018 |
and 31 December 2018 |
DEPRECIATION |
At 1 January 2018 |
Charge for year |
At 31 December 2018 |
NET BOOK VALUE |
At 31 December 2018 |
At 31 December 2017 |
JOHN MONAGHAN LIMITED (REGISTERED NUMBER: 05596955) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
6. | FIXED ASSET INVESTMENTS |
Information on investments other than loans is as follows: |
Totals |
£ |
COST |
At 1 January 2018 |
Impairments | (500 | ) |
At 31 December 2018 | - |
NET BOOK VALUE |
At 31 December 2018 | - |
At 31 December 2017 | 500 |
7. | SECURED DEBTS |
The following secured debts are included within creditors: |
2018 | 2017 |
£ | £ |
Bank overdrafts |
The bank overdraft is secured by inter company guarantees and a debenture over all assets of the company. |
8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
9. | CONTINGENT LIABILITIES |
The company has given guarantees to the company's bankers in respect of borrowings of other group and related |
party companies. |
10. | RELATED PARTY DISCLOSURES |
During the year the company traded on a normal commercial basis with other members of the group. Invoiced |
amounts relate to services and recharges. Exemptions from monetary disclosure has been taken by the company. |