Maelor (Construction) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01319241 (England and Wales)

MAELOR (CONSTRUCTION) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 2019

Page

Company information

1

Balance sheet

2

Notes to the financial statements

4

Directors:

Mrs W Griffiths

S J Gould

W C Gould

S Gould

Secretary:

Mrs W Griffiths

Registered office:

48A Victoria Road

Brynteg

Wrexham

Wrexham CB

LL11 6NH

Registered number:

01319241 (England and Wales)

Accountants:

John Davies and Co

St Andrews House

Yale Business Village

Ellice Way

Wrexham

Wrexham CB

LL13 7YL

Fixed assets

Tangible assets

4

27,252

33,445

Investments

5

345,000

345,000

372,252

378,445

Current assets

Stocks

272,476

277,351

Debtors

6

4,804

27,393

Cash at bank and in hand

58,240

-

335,520

304,744

Creditors

Amounts falling due within one year

7

410,216

365,008

Net current liabilities

(74,696

)

(60,264

)

Total assets less current liabilities

297,556

318,181

Creditors

Amounts falling due after more than one year

8

(9,689

)

(15,115

)

Provisions for liabilities

(19,155

)

(20,188

)

Net assets

268,712

282,878

Capital and reserves

Called up share capital

100

100

Non distributable profit &

loss

242,800

242,800

Retained earnings

25,812

39,978

268,712

282,878

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 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 24 September 2019 and were signed on its behalf by:

S J Gould - Director

1.	Statutory information

Maelor (Construction) 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 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

5% on cost

Plant and machinery

-

20% on reducing balance

Fixtures & fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making

due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and

handling costs in bringing stocks to their present location and condition.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.

Those held under hire purchase contracts are depreciated over their estimated useful lives. Those

held under finance leases are depreciated over their estimated useful lives or the lease term,

whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the

period of the lease.

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 11 (2018 - 12 ) .

4.	Tangible fixed assets

Freehold

Plant and

Fixtures

Motor

property

machinery

& fittings

vehicles

Totals

£

£

£

£

£

Cost

At 1 April 2018

and 31 March 2019

15,090

18,609

6,626

94,520

134,845

Depreciation

At 1 April 2018

5,268

16,175

5,947

74,010

101,400

Charge for year

754

365

170

4,904

6,193

At 31 March 2019

6,022

16,540

6,117

78,914

107,593

Net book value

At 31 March 2019

9,068

2,069

509

15,606

27,252

At 31 March 2018

9,822

2,434

679

20,510

33,445

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

Cost

At 1 April 2018

and 31 March 2019

13,618

Depreciation

At 1 April 2018

4,681

Charge for year

2,234

At 31 March 2019

6,915

Net book value

At 31 March 2019

6,703

At 31 March 2018

8,937

5.	Fixed asset investments

Other

investments

£

Cost

At 1 April 2018

and 31 March 2019

345,000

Net book value

At 31 March 2019

345,000

At 31 March 2018

345,000

6.

Debtors: amounts falling due within one year

2019

2018

£

£

Trade debtors

253

20,451

Other debtors

4,551

6,942

4,804

27,393

7.

Creditors: amounts falling due within one year

2019

2018

£

£

Bank loans and overdrafts

117,530

134,954

Hire purchase contracts

5,426

5,426

Trade creditors

104,916

172,957

Taxation and social security

69,167

15,154

Other creditors

113,177

36,517

410,216

365,008

8.

Creditors: amounts falling due after more than one year

2019

2018

£

£

Hire purchase contracts

9,689

15,115

9.	Related party disclosures