Maymask (171) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07659081 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 November 2019

for

Maymask (171) Limited

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Dr A Narsesian

Mr G R C Nichol

REGISTERED OFFICE:

Lady Stephenson Library

Welbeck Road

Newcastle upon Tyne

Tyne and Wear

NE6 2PA

REGISTERED NUMBER:

07659081 (England and Wales)

ACCOUNTANTS:

Michael Adamson & Co

Chartered Certified Acc'ts

115 Chester Road

Sunderland

SR4 7HG

FIXED ASSETS

Tangible assets

4

740,460

637,685

Investments

5

64,142

61,555

804,602

699,240

CURRENT ASSETS

Debtors

6,069

8,058

Cash at bank and in hand

68,228

76,167

74,297

84,225

CREDITORS

Amounts falling due within one year

361,738

285,544

NET CURRENT LIABILITIES

(287,441

)

(201,319

)

TOTAL ASSETS LESS CURRENT LIABILITIES

517,161

497,921

CREDITORS

Amounts falling due after more than one year

6

447,653

447,653

NET ASSETS

69,508

50,268

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

7

69,506

50,266

69,508

50,268

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 30 November 2019 in accordance with Section 444(2A) of the Companies Act 2006.

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 19 November 2020 and were signed on its behalf by:

Dr A Narsesian - Director

Mr G R C Nichol - Director

1.	STATUTORY INFORMATION

Maymask (171) Limited 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.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. The financial statements have been prepared under the historical cost convention.

Tangible fixed assets

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

Freehold property

-

not provided

Computer equipment

-

25% on cost

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2018 - 2 ).

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 December 2018

637,685

Additions

103,060

At 30 November 2019

740,745

DEPRECIATION

Charge for year

285

At 30 November 2019

285

NET BOOK VALUE

At 30 November 2019

740,460

At 30 November 2018

637,685

5.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1 December 2018

61,555

Additions

10,559

Disposals

(7,972

)

At 30 November 2019

64,142

NET BOOK VALUE

At 30 November 2019

64,142

At 30 November 2018

61,555

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

30.11.19

30.11.18

£

£

Repayable by instalments

Other loans more 5yrs instal

447,653

447,653

7.

RESERVES

Retained

earnings

£

At 1 December 2018

50,266

Profit for the year

19,240

At 30 November 2019

69,506

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2019 and 30 November 2018:

30.11.19

30.11.18

£

£

Dr A Narsesian

Balance outstanding at start of year

107,162

107,038

Amounts advanced

103,114

124

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

210,276

107,162