Munns Limited - Accounts to registrar (filleted) - small 18.2
Munns Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 30 April 2019 |
| for |
| Munns Limited |
| Munns Limited (Registered number: 01205512) |
| Contents of the Financial Statements |
| for the Year Ended 30 April 2019 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Directors' Responsibilities Statement | 6 |
| Independent Chartered Certified Accountants' Review Report | 7 |
| Munns Limited |
| Company Information |
| for the Year Ended 30 April 2019 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 29 The Green |
| Winchmore Hill |
| London |
| N21 1HS |
| Munns Limited (Registered number: 01205512) |
| Balance Sheet |
| 30 April 2019 |
| 30.4.19 | 30.4.18 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| 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 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Capital redemption reserve |
| 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. |
| 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 |
| Munns Limited (Registered number: 01205512) |
| Notes to the Financial Statements |
| for the Year Ended 30 April 2019 |
| 1. | STATUTORY INFORMATION |
| Munns Limited is a |
| and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents net invoiced sales of goods and services supplied adjusted for the movement in amounts recoverable |
| on contracts, excluding value added tax. |
| Tangible fixed assets |
| Plant and machinery etc | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving |
| items. |
| 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. |
| Amounts recoverable on contracts |
| Amounts recoverable on contracts are stated at cost plus attributable profit less foreseeable losses. Cost includes an |
| appropriate proportion of production and overhead expenditure based on normal level of activity. Profit is recognised |
| during the course of each contract as appropriate. Amounts recoverable on completed contracts, net of progress |
| payments, are included in debtors. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Munns Limited (Registered number: 01205512) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 April 2019 |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST |
| At 1 May 2018 |
| Disposals | ( |
) | ( |
) |
| At 30 April 2019 |
| DEPRECIATION |
| At 1 May 2018 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 30 April 2019 |
| NET BOOK VALUE |
| At 30 April 2019 |
| At 30 April 2018 |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 May 2018 |
| Transfer to ownership | (29,119 | ) |
| At 30 April 2019 |
| DEPRECIATION |
| At 1 May 2018 |
| Transfer to ownership | (21,907 | ) |
| At 30 April 2019 |
| NET BOOK VALUE |
| At 30 April 2019 |
| At 30 April 2018 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.4.19 | 30.4.18 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Amount recoverable on contracts amounting to £127,365 (2018: £112,056) are included within other debtors. |
| Munns Limited (Registered number: 01205512) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 April 2019 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.4.19 | 30.4.18 |
| £ | £ |
| Hire purchase contracts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 30.4.19 | 30.4.18 |
| £ | £ |
| Other creditors |
| 8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| Included in other creditors is a balance owed to the directors, Mr JV Munns and MR JG Munns, of £255,553 (2018 |
| £236,808). The loan has been recorded at transaction value and not at present value, discounted to market rate. |
| During the year the company paid rent of £24,000 (2018: £24,000) in respect of its trading premises to J V Munns and J G |
| Munns divided equally. |
| 9. | RELATED PARTY DISCLOSURES |
| Munns Group Limited and Holland Air Conditioning Limited are both controlled by the directors J V Munns and J G Munns. |
| Other debtors included an amount of £114,361 (2018: £114,361) due from Munns Group Limited. |
| Other debtors includes an amount of £344,461 (2018: £282,800) due from Holland Air Conditioning Limited. |
| During the year the company accrued for a management charges of £nil (2018: £260,000) from Holland Air Conditioning |
| Limited. |
| 10. | ULTIMATE CONTROLLING PARTY |
| In the opinion of the directors there is no one controlling party. |
| Directors' Responsibilities Statement |
| on the Unaudited Financial Statements of |
| Munns Limited |
| The following reproduces the text of the report prepared for the directors and members in respect of the company's annual |
| unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance |
| Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors |
| are not required to be filed with the Registrar of Companies. |
| We confirm that as directors we have met our duty in accordance with the Companies Act 2006 to: |
| - | ensure that the company has kept proper accounting records; |
| - | prepare financial statements which give a true and fair view of the state of affairs of the company as at 30 April 2019 and of its profit for that period in accordance with United Kingdom Generally Accepted Accounting Practice; and |
| - | follow the applicable accounting policies, subject to any material departures disclosed and explained in the notes to the financial statements. |
| ON BEHALF OF THE BOARD: |
| 24 January 2020 |
| Independent Chartered Certified Accountants' Review Report to the Directors of |
| Munns Limited |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
| We have reviewed the financial statements of Munns Limited for the year ended 30 April 2019, which comprise the Income Statement, Balance Sheet and the related notes 1 to 11. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. |
| This report is made solely to the company's directors, as a body, in accordance with our terms of engagement. Our review has been undertaken so that we might state to the directors those matters that we have agreed with them in our engagement letter and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's directors as a body for our work, for this report or the conclusions we have formed. |
| Directors' responsibility for the financial statements |
| As explained more fully in the Directors' Responsibilities Statement set out on page eight, the directors are responsible for the |
| preparation of the financial statements and for being satisfied that they give a true and fair view. |
| Accountants' responsibility |
| Our responsibility is to express a conclusion based on our review of the financial statements. We conducted our review in |
| accordance with International Standard on Review Engagements (ISRE) 2400 (Revised), 'Engagements to review historical financial |
| statements' and ICAEW Technical Release TECH 09/13AAF 'Assurance review engagements on historical financial statements'. ISRE |
| 2400 also requires us to comply with the ICAEW Code of Ethics. |
| Scope of the assurance review |
| A review of financial statements in accordance with ISRE 2400 (Revised) is a limited assurance engagement. We have performed |
| additional procedures to those required under a compilation engagement. These primarily consist of making enquiries of |
| management and others within the entity, as appropriate, applying analytical procedures and evaluating the evidence obtained. |
| The procedures performed in a review are substantially less than those performed in an audit conducted in accordance with |
| International Standards on Auditing (UK and Ireland). Accordingly, we do not express an audit opinion on these financial |
| statements. |
| Conclusion |
| Based on our review, nothing has come to our attention that causes us to believe that the financial statements have not been prepared: |
| - | so as to give a true and fair view of the state of the company's affairs as at 30 April 2019 and of its profit for the year then ended; |
| - | in accordance with United Kingdom Generally Accepted Accounting Practice; and |
| - | in accordance with the requirements of the Companies Act 2006. |
| 29 The Green |
| Winchmore Hill |
| London |
| N21 1HS |