MD Affinity Schemes Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08214231 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2018

for

MD Affinity Schemes Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G J Devaney

I M Turnick

SECRETARY:

Ms J A Goodman

REGISTERED OFFICE:

2 Shore Lines Building

Shore Road

Birkenhead

Merseyside

CH41 1AU

REGISTERED NUMBER:

08214231 (England and Wales)

ACCOUNTANTS:

Haines Watts

3rd Floor Pacific Chambers

11-13 Victoria Street

Liverpool

Merseyside

L2 5QQ

CURRENT ASSETS

Debtors

4

1,290,860

1,140,730

Cash at bank

982,270

814,553

2,273,130

1,955,283

CREDITORS

Amounts falling due within one year

5

2,139,383

1,839,590

NET CURRENT ASSETS

133,747

115,693

TOTAL ASSETS LESS CURRENT LIABILITIES

133,747

115,693

CREDITORS

Amounts falling due after more than one year

6

100,000

100,000

NET ASSETS

33,747

15,693

CAPITAL AND RESERVES

Called up share capital

80

80

Retained earnings

33,667

15,613

SHAREHOLDERS' FUNDS

33,747

15,693

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 applicable to companies subject to the small companies regime.

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 25 September 2019 and were signed on its behalf by:

G J Devaney - Director

1.	STATUTORY INFORMATION

MD Affinity Schemes 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and key sources of estimation uncertainty

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including

expectations of future events that are believed to be reasonable under the circumstances.

There are not considered to be any critical judgements in applying the company's accounting policies.

Turnover

Turnover represents amounts receivable for services net of VAT and trade discounts.

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.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty or notice of not more

than 24 hours.

Financial instruments

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

liabilities like trade and other debtors and creditors, loans from banks and loans to related parties.

Debt instruments (other than those wholly repayable within one year), including loans and other accounts receivable and

payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the

effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and

creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected

to be paid or received.

Financial assets that are measured at cost and amortised 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 the income

statement and retained earnings.

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured

initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest

method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - 4 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Trade debtors

1,284,209

1,136,170

Other debtors

6,651

4,560

1,290,860

1,140,730

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Trade creditors

964,034

884,795

Taxation and social security

12,916

8,959

Other creditors

1,162,433

945,836

2,139,383

1,839,590

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.18

31.12.17

£

£

Other creditors

100,000

100,000

7.	RELATED PARTY DISCLOSURES

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr G Devaney on the basis of his majority shareholding in the company.