Maestroclear Limited - Accounts to registrar (filleted) - small 18.2
Maestroclear Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JUNE 2019 |
| FOR |
| MAESTROCLEAR LIMITED |
| MAESTROCLEAR LIMITED (REGISTERED NUMBER: SC197134) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the year ended 30 June 2019 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| MAESTROCLEAR LIMITED |
| COMPANY INFORMATION |
| for the year ended 30 June 2019 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Viewforth House |
| 189 Nicol Street |
| Kirkcaldy |
| Fife |
| KY1 1PF |
| MAESTROCLEAR LIMITED (REGISTERED NUMBER: SC197134) |
| BALANCE SHEET |
| 30 June 2019 |
| 2019 | 2018 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| MAESTROCLEAR LIMITED (REGISTERED NUMBER: SC197134) |
| BALANCE SHEET - continued |
| 30 June 2019 |
| In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
| The financial statements were approved by the Board of Directors on by: |
| MAESTROCLEAR LIMITED (REGISTERED NUMBER: SC197134) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the year ended 30 June 2019 |
| 1. | STATUTORY INFORMATION |
| Maestroclear Limited is a |
| registered number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| BASIS OF PREPARING THE FINANCIAL STATEMENTS |
| The financial statements are presented in sterling which is the functional currency of the company and |
| rounded to the nearest £. |
| The significant accounting policies applied in the preparation of these financial statements are set out below. |
| These policies have been consistently applied to all years presented unless otherwise stated. |
| TURNOVER |
| Turnover represents income from contract work installing gas mains excluding value added tax. Income is |
| recognised at the point at which the company has fulfilled its contractual obligations to the customer. |
| TANGIBLE FIXED ASSETS |
| Plant and machinery | - |
| Motor vehicles | - |
| Office equipment | - |
| Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost |
| includes costs directly attributable to making the asset capable of operating as intended. |
| STOCKS |
| Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes |
| all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and |
| condition. Cost is calculated using the first-in, first-out basis. Provision is made for damaged, obsolete and |
| slow-moving stock where appropriate. |
| TAXATION |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and |
| Retained Earnings, 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. |
| MAESTROCLEAR LIMITED (REGISTERED NUMBER: SC197134) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 30 June 2019 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| IMPAIRMENT |
| Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each |
| balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset’s cash generating |
| unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable |
| amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount |
| where the impairment loss is a revaluation decrease. |
| PROVISIONS |
| Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past |
| event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be |
| reliably estimated. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| MAESTROCLEAR LIMITED (REGISTERED NUMBER: SC197134) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 30 June 2019 |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and | Motor | Office |
| machinery | vehicles | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 July 2018 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 30 June 2019 |
| DEPRECIATION |
| At 1 July 2018 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 30 June 2019 |
| NET BOOK VALUE |
| At 30 June 2019 |
| At 30 June 2018 |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Motor |
| vehicles |
| £ |
| COST |
| At 1 July 2018 |
| and 30 June 2019 |
| DEPRECIATION |
| At 1 July 2018 |
| Charge for year |
| At 30 June 2019 |
| NET BOOK VALUE |
| At 30 June 2019 |
| At 30 June 2018 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Prepayments |
| MAESTROCLEAR LIMITED (REGISTERED NUMBER: SC197134) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 30 June 2019 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Hire purchase contracts |
| Trade creditors |
| Corporation Tax |
| Social security and other taxes |
| VAT | 155,241 | 98,012 |
| Other creditors |
| Outstanding accounts | 5,289 | 3,957 |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Hire purchase contracts |
| 8. | RELATED PARTY DISCLOSURES |
| Included in Other Creditors is an amount of £189,388 (2018 - £115,222) due to the directors from the |
| company. |
| This loan is interest free and has no fixed terms of repayment. |