John Monaghan Limited - Accounts to registrar (filleted) - small 18.2
John Monaghan Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
JOHN MONAGHAN LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
JOHN MONAGHAN LIMITED (REGISTERED NUMBER: 05596955) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
JOHN MONAGHAN LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
531 Denby Dale Road West |
Calder Grove |
Wakefield |
West Yorkshire |
WF4 3ND |
BANKERS: |
Leeds Park Row Branch |
27 Park Row |
Leeds |
West Yorkshire |
LS1 5QB |
JOHN MONAGHAN LIMITED (REGISTERED NUMBER: 05596955) |
ABRIDGED BALANCE SHEET |
31 DECEMBER 2019 |
2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year |
NET CURRENT LIABILITIES | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
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. |
JOHN MONAGHAN LIMITED (REGISTERED NUMBER: 05596955) |
ABRIDGED BALANCE SHEET - continued |
31 DECEMBER 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 and authorised for issue on signed on its behalf by: |
JOHN MONAGHAN LIMITED (REGISTERED NUMBER: 05596955) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
1. | STATUTORY INFORMATION |
John Monaghan Limited is a |
company's registered number and registered office address can be found on the Company Information page. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The accounts have been prepared on the going concern basis despite liabilities exceeding assets by £114,969 at |
the balance sheet date. The basis is considered appropriate and assumes the continued support of the bank and |
the company directors. |
Turnover |
Turnover comprises the value of sales (net of value added tax, similar taxes and trade discounts) of goods and |
services provided in the normal course of business. Turnover is recognised when the goods are despatched, |
which is the same day on which the goods are delivered and hence is the point at which the risks and rewards of |
ownership pass to the buyer. |
Goodwill |
Goodwill, being the amount paid in connection with the acquisition of businesses in 2007 and 2010, are being |
amortised evenly over their estimated useful life of five years. |
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. |
Tangible fixed assets |
Plant and machinery | - |
Fixtures and fittings | - |
Computer equipment | - |
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. |
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. |
JOHN MONAGHAN LIMITED (REGISTERED NUMBER: 05596955) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
2. | ACCOUNTING POLICIES - continued |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at |
the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2018 - |
4. | INTANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 January 2019 |
Disposals | ( |
) |
At 31 December 2019 |
AMORTISATION |
At 1 January 2019 |
Eliminated on disposal | ( |
) |
At 31 December 2019 |
NET BOOK VALUE |
At 31 December 2019 |
At 31 December 2018 |
Goodwill arose on the purchase of unincorporated businesses in 2007 and 2010 and are being amortised over |
five years. In the opinion of the directors, this represents a prudent estimate of the period over which the |
company will derive economic benefit from the products acquired as part of them businesses. |
JOHN MONAGHAN LIMITED (REGISTERED NUMBER: 05596955) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Computer |
machinery | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 January 2019 |
Disposals | ( |
) | ( |
) | ( |
) | ( |
) |
At 31 December 2019 |
DEPRECIATION |
At 1 January 2019 |
Eliminated on disposal | ( |
) | ( |
) | ( |
) | ( |
) |
At 31 December 2019 |
NET BOOK VALUE |
At 31 December 2019 |
At 31 December 2018 |
6. | SECURED DEBTS |
The following secured debts are included within creditors: |
2019 | 2018 |
£ | £ |
Bank overdraft |
The bank overdraft is secured by inter company guarantees and a debenture over all assets of the company. |
7. | CONTINGENT LIABILITIES |
The company has given guarantees to the company's bankers in respect of borrowings of other group and related |
party companies. |
8. | RELATED PARTY DISCLOSURES |
During the year the company traded on a normal commercial basis with other members of the group. Invoiced |
amounts relate to services and recharges. Exemptions from monetary disclosure has been taken by the company. |