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

REGISTERED NUMBER: 10404254 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2018

FOR

MASKELYNE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

P N Tussaud

A J K Lowenthal

REGISTERED OFFICE:

2-4 Packhorse Road

Gerrards Cross

Buckinghamshire

SL9 7QE

REGISTERED NUMBER:

10404254 (England and Wales)

ACCOUNTANTS:

Nunn Hayward LLP

Chartered Accountants

2-4 Packhorse Road

Gerrards Cross

Buckinghamshire

SL9 7QE

FIXED ASSETS

Tangible assets

4

6,883

-

Investment property

5

667,414

538,520

674,297

538,520

CURRENT ASSETS

Debtors

6

-

2,083

Cash at bank

27,262

46,795

27,262

48,878

CREDITORS

Amounts falling due within one year

7

634,169

435,260

NET CURRENT LIABILITIES

(606,907

)

(386,382

)

TOTAL ASSETS LESS CURRENT LIABILITIES

67,390

152,138

CREDITORS

Amounts falling due after more than one year

8

106,500

159,086

NET LIABILITIES

(39,110

)

(6,948

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(39,111

)

(6,949

)

(39,110

)

(6,948

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 30 October 2019 and were signed on its behalf by:

P N Tussaud - Director

1.	STATUTORY INFORMATION

Maskelyne 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A

These financial statements for the year ended 31 October 2018 are the first that are prepared in accordance with

FRS 102 Section 1A. The previous financial statements were prepared in accordance with FRS 105, the date of

transition to FRS 102 Section 1A is 30 September 2016.

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.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

fair value is recognised in profit or loss.

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

9,178

At 31 October 2018

9,178

DEPRECIATION

Charge for year

2,295

At 31 October 2018

2,295

NET BOOK VALUE

At 31 October 2018

6,883

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 November 2017

538,520

Additions

128,894

At 31 October 2018

667,414

NET BOOK VALUE

At 31 October 2018

667,414

At 31 October 2017

538,520

Transition to FRS 102 (1A)

FRS 102 (1A) requires investment properties to be measured at fair value. Under the previous financial

framework, the investment property was measured at cost less depreciation.

At 31 October 2017, the carrying amount of the investment property was £537,616. An adjustment of £904 was

required to the balance sheet along with an adjustment to remove depreciation of £904 from administrative

expenses.

There has been no significant change in the value of the investment property since acquisition.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Other debtors

-

2,083

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

1,367

-

Amounts owed to group undertakings

261,102

-

Other creditors

371,700

435,260

634,169

435,260

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Amounts owed to group undertakings

-

58,586

Other creditors

106,500

100,500

106,500

159,086