Mayrice (UK) Limited Filleted accounts for Companies House (small and micro)

MAYRICE (UK) LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 07336591

Mayrice (UK) Limited

Filleted Unaudited Financial Statements

31 August 2018

Mayrice (UK) Limited

Statement of Financial Position

31 August 2018

	2018	2017
Note	£	£

Fixed assets

Investments	4	65,850	50,000

Current assets

Debtors	5	254,681	243,277
Cash at bank and in hand		446,915	495,805
		---------	---------
		701,596	739,082

Creditors: amounts falling due within one year	6	9,026	2,500
		---------	---------
Net current assets		692,570	736,582
		---------	---------
Total assets less current liabilities		758,420	786,582
		---------	---------
Net assets		758,420	786,582
		---------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	758,320	786,482
	---------	---------
Shareholders funds	758,420	786,582
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 August 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Mayrice (UK) Limited

Statement of Financial Position (continued)

31 August 2018

These financial statements were approved by the board of directors and authorised for issue on 24 May 2019 , and are signed on behalf of the board by:

M D Bateman
Director

Company registration number: 07336591

Mayrice (UK) Limited

Notes to the Financial Statements

Year ended 31 August 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office and principal place of business is 4 Pickering Place, St James Street, London, SW1A 1EA, UK.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, and in accordance with applicable accounting standards. The financial statements are prepared in sterling, which is the functional currency of the entity .

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Investments in joint ventures

Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Financial instruments

a ) Trade and other receivables Trade and other receivables are amounts due from client for digital advisory services performed in the ordinary course of business. If collection is expected in one year or less, they are classified as current assets. If not, they are presented as non-current assets. Trade receivables are initially recognised at fair value and subsequently measured at amortised cost less provision for impairment. b) Trade and other payables Obligations to pay for goods/services; current and non-current are initially recognised at fair value and are subsequently measured at amortised costs .

4. Investments

	Shares in group undertakings	Other investments other than loans	Total
	£	£	£
Cost
At 1 September 2017	50,000	–	50,000
Additions	–	15,850	15,850
	--------	--------	--------
At 31 August 2018	50,000	15,850	65,850
	--------	--------	--------
Impairment
At 1 September 2017 and 31 August 2018	–	–	–
	--------	--------	--------

Carrying amount
At 31 August 2018	50,000	15,850	65,850
	--------	--------	--------
At 31 August 2017	50,000	–	50,000
	--------	--------	--------

5. Debtors

	2018	2017
	£	£
Other debtors	254,681	243,277
	---------	---------

6. Creditors: amounts falling due within one year

	2018	2017
	£	£
Trade creditors	4,800	–
Other creditors	4,226	2,500
	-------	-------
	9,026	2,500
	-------	-------

7. Other financial commitments

There were no financial commitments or contracts for capital expenditure outstanding at the reporting date (2016: nil).

8. Director's advances, credits and guarantees

As at the balance sheet date, the director was owed £1,726 by the company (2017: owed the company £22,596). This amount is interest free and repayable on demand .

9. Related party transactions

The company was under the control of Mr M D Bateman throughout the current period. Mr M D Bateman is a member of Archerfield Partners LLP. Other operating income represents the company's entitlement to profits in Archerfield Partners LLP during the year. At the balance sheet date, Archerfield Partners LLP owed the company £220,681 (2017: £220,681).