Matthew Maynard Rights Limited Filleted accounts for Companies House (small and micro)

Matthew Maynard Rights Limited Filleted accounts for Companies House (small and micro)

MATTHEW MAYNARD RIGHTS LIMITED - Company Information

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false false false false false false false false false true false false false false false false false No description of principal activity 2018-09-01 Sage Accounts Production Advanced 2019 - FRS102_2014 35,000 28,000 3,500 31,500 3,500 7,000 xbrli:pure xbrli:shares iso4217:GBP 04053418 2018-09-01 2019-08-31 04053418 2019-08-31 04053418 2018-08-31 04053418 2017-09-01 2018-08-31 04053418 2018-08-31 04053418 bus:Director2 2018-09-01 2019-08-31 04053418 core:NetGoodwill 2018-08-31 04053418 core:NetGoodwill 2019-08-31 04053418 core:LandBuildings core:ShortLeaseholdAssets 2018-08-31 04053418 core:LandBuildings core:ShortLeaseholdAssets 2019-08-31 04053418 core:LandBuildings core:ShortLeaseholdAssets 2018-09-01 2019-08-31 04053418 core:WithinOneYear 2019-08-31 04053418 core:WithinOneYear 2018-08-31 04053418 core:ShareCapital 2019-08-31 04053418 core:ShareCapital 2018-08-31 04053418 core:RetainedEarningsAccumulatedLosses 2019-08-31 04053418 core:RetainedEarningsAccumulatedLosses 2018-08-31 04053418 core:NetGoodwill 2018-09-01 2019-08-31 04053418 core:NetGoodwill 2018-08-31 04053418 bus:SmallEntities 2018-09-01 2019-08-31 04053418 bus:AuditExemptWithAccountantsReport 2018-09-01 2019-08-31 04053418 bus:FullAccounts 2018-09-01 2019-08-31 04053418 bus:SmallCompaniesRegimeForAccounts 2018-09-01 2019-08-31 04053418 bus:PrivateLimitedCompanyLtd 2018-09-01 2019-08-31
COMPANY REGISTRATION NUMBER: 04053418
Matthew Maynard Rights Limited
Filleted Unaudited Financial Statements
31 August 2019
Matthew Maynard Rights Limited
Statement of Financial Position
31 August 2019
2019
2018
Note
£
£
£
Fixed assets
Intangible assets
5
3,500
7,000
Tangible assets
6
674
1
-------
-------
4,174
7,001
Current assets
Debtors
7
14,507
9,336
Cash at bank and in hand
29,483
30,620
--------
--------
43,990
39,956
Creditors: amounts falling due within one year
8
21,988
38,623
--------
--------
Net current assets
22,002
1,333
--------
-------
Total assets less current liabilities
26,176
8,334
--------
-------
Net assets
26,176
8,334
--------
-------
Capital and reserves
Called up share capital
2
2
Profit and loss account
26,174
8,332
--------
-------
Shareholders funds
26,176
8,334
--------
-------
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 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Matthew Maynard Rights Limited
Statement of Financial Position (continued)
31 August 2019
These financial statements were approved by the board of directors and authorised for issue on 5 December 2019 , and are signed on behalf of the board by:
Mr M P Maynard
Director
Company registration number: 04053418
Matthew Maynard Rights Limited
Notes to the Financial Statements
Year ended 31 August 2019
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Lyndhurst, Penuel Road, Pentyrch, Cardiff, CF15 9QJ.
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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
10 years straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Computer Equipment
-
3 years straight line
Equipment
-
4 years straight line
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.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2018: 1 ).
5. Intangible assets
Goodwill
£
Cost
At 1 September 2018 and 31 August 2019
35,000
--------
Amortisation
At 1 September 2018
28,000
Charge for the year
3,500
--------
At 31 August 2019
31,500
--------
Carrying amount
At 31 August 2019
3,500
--------
At 31 August 2018
7,000
--------
6. Tangible assets
Short leasehold property
Equipment
Total
£
£
£
Cost
At 1 September 2018
4,100
1,250
5,350
Additions
–
898
898
-------
-------
-------
At 31 August 2019
4,100
2,148
6,248
-------
-------
-------
Depreciation
At 1 September 2018
4,100
1,249
5,349
Charge for the year
–
225
225
-------
-------
-------
At 31 August 2019
4,100
1,474
5,574
-------
-------
-------
Carrying amount
At 31 August 2019
–
674
674
-------
-------
-------
At 31 August 2018
–
1
1
-------
-------
-------
7. Debtors
2019
2018
£
£
Trade debtors
14,507
9,336
--------
-------
8. Creditors: amounts falling due within one year
2019
2018
£
£
Corporation tax
9,519
4,302
Commercial Card
524
1,166
Other creditors
11,945
33,155
--------
--------
21,988
38,623
--------
--------