Mounsey Surveyors Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07381949 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 October 2019

for

Mounsey Surveyors Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

R D Mounsey

Mrs E J Mounsey

T Johnson

SECRETARY:

Mrs E J Mounsey

REGISTERED OFFICE:

The Glades

Festival Way

Festival Park

Stoke-on-Trent

Staffordshire

ST1 5SQ

REGISTERED NUMBER:

07381949 (England and Wales)

FIXED ASSETS

Intangible assets

5

3,500

-

Tangible assets

6

5,346

4,830

Investments

7

20

20

Investment property

8

183,436

183,436

192,302

188,286

CURRENT ASSETS

Debtors

9

58,702

70,182

Cash at bank and in hand

121,694

73,305

180,396

143,487

CREDITORS

Amounts falling due within one year

10

109,208

83,008

NET CURRENT ASSETS

71,188

60,479

TOTAL ASSETS LESS CURRENT LIABILITIES

263,490

248,765

CREDITORS

Amounts falling due after more than one year

11

137,914

122,132

NET ASSETS

125,576

126,633

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

125,476

126,533

SHAREHOLDERS' FUNDS

125,576

126,633

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors on 30 January 2020 and were signed on its behalf by:

R D Mounsey - Director

1.	STATUTORY INFORMATION

Mounsey Surveyors Ltd 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements cover the company as an individual entity, have been prepared under the

historical cost convention and are presented in Pounds Sterling (£) being the functional currency.

The financial statements have been prepared on the assumption that the company is able to carry

on business as a going concern, which the directors consider appropriate having regard to the

company's current and expected performance.

Turnover

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

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

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are

measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

50% on cost

Fixtures and fittings

-

20% on cost

Computer equipment

-

33.33% on cost

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.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in

non-convertible preference and non-puttable ordinary shares which are measured at fair value,

with changes recognised in profit or loss. Derivative financial instruments are initially recorded at

cost and thereafter at fair value with changes recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax, if applicable. 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 statement of financial position date.

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.

4.

EMPLOYEES

The average number of employees during the year was 10 (2018 - 7 ) .

5.	INTANGIBLE FIXED ASSETS

Computer

software

£

COST

Additions

5,250

At 31 October 2019

5,250

AMORTISATION

Amortisation for year

1,750

At 31 October 2019

1,750

NET BOOK VALUE

At 31 October 2019

3,500

6.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

Computer

property

fittings

equipment

Totals

£

£

£

£

COST

At 1 November 2018

8,709

5,189

21,285

35,183

Additions

-

2,188

4,198

6,386

At 31 October 2019

8,709

7,377

25,483

41,569

DEPRECIATION

At 1 November 2018

8,709

3,887

17,757

30,353

Charge for year

-

1,169

4,701

5,870

At 31 October 2019

8,709

5,056

22,458

36,223

NET BOOK VALUE

At 31 October 2019

-

2,321

3,025

5,346

At 31 October 2018

-

1,302

3,528

4,830

7.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 November 2018

and 31 October 2019

20

NET BOOK VALUE

At 31 October 2019

20

At 31 October 2018

20

8.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 November 2018

and 31 October 2019

183,436

NET BOOK VALUE

At 31 October 2019

183,436

At 31 October 2018

183,436

The directors are satisfied that the value of the investment property at the reporting date is at

fair value.

9.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

46,254

56,783

Other debtors

12,448

13,399

58,702

70,182

10.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

13,890

5,251

Trade creditors

4,611

2,717

Taxation and social security

75,738

63,673

Other creditors

14,969

11,367

109,208

83,008

11.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Bank loans

137,914

122,132

12.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2019

2018

£

£

Within one year

19,744

17,698

Between one and five years

18,321

24,233

38,065

41,931

Total lease payments recognised as an expense during the period amounted to £21,811 (2018 -

£18,825).

13.	SECURED DEBTS

The following secured debts are included within creditors:

2019

2018

£

£

Bank loans

151,804

127,383

The bank loan is secured by a legal charge over the investment property.

14.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2019

and 31 October 2018:

2019

2018

£

£

T Johnson

Balance outstanding at start of year

6,000

-

Amounts advanced

-

6,000

Amounts repaid

(6,000

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

6,000

The advance was unsecured, interest free and repayable on demand.