Mather & Ellis Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00757855 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2020

FOR

MATHER & ELLIS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr I D Madeley

Mr J H Russell

Mr P E Duerden

SECRETARY:

Mr I D Madeley

REGISTERED OFFICE:

Mosley Road

Trafford Park

Manchester

M17 1QA

REGISTERED NUMBER:

00757855 (England and Wales)

AUDITORS:

Dunhams

Chartered Accountants and

Statutory Auditor

11 Warwick Road

Old Trafford

Manchester

M16 0QQ

FIXED ASSETS

Tangible assets

4

303,000

236,166

CURRENT ASSETS

Stocks

5

(47,787

)

32,484

Debtors

6

430,277

718,199

Cash at bank and in hand

875,688

1,015,089

1,258,178

1,765,772

CREDITORS

Amounts falling due within one year

7

(446,505

)

(943,542

)

NET CURRENT ASSETS

811,673

822,230

TOTAL ASSETS LESS CURRENT LIABILITIES

1,114,673

1,058,396

PROVISIONS FOR LIABILITIES

(42,426

)

(30,172

)

NET ASSETS

1,072,247

1,028,224

CAPITAL AND RESERVES

Called up share capital

2,000

2,000

Retained earnings

1,070,247

1,026,224

SHAREHOLDERS' FUNDS

1,072,247

1,028,224

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 November 2020 and were signed on its behalf by:

Mr J H Russell - Director

1.	STATUTORY INFORMATION

Mather & Ellis 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

The accounts are prepared rounded to the nearest pound sterling.

Significant judgements and estimates

The preparation of financial statements in conformity with the UK GAAP requires management to make estimates and assumptions that effect the amounts and disclosures reported in the financial statements. Actual results could differ from these estimates.

Work in Progress

See below for detailed policy on Work in Progress.

Turnover

Turnover is the total amount receivable by the company in the ordinary course of business with outside customers for the goods supplied and services provided excluding VAT. On long term contracts the estimated sales value of work performed in the period is included.

Tangible fixed assets

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

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

10% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

20% on reducing balance

Government grants

COVID -19 , the various support initiatives for businesses from local , National Government and other Industry or sector organisations have been collectively recognised as Government grants .

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.

Government grants are recognised using the accrual model and the performance model.

Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.

Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.

Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable.

Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

Stocks & work in progress

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Long-term work in progress is taken to be that on contracts which exceed one year in duration or whose activity falls into different accounting periods and they are material to the activity of the period. Where it is considered that the outcome of a long-term contract can be assessed with reasonable certainty before its conclusion, the prudently calculated attributable profit is recognised in the profit and loss account as the difference between the recorded turnover and attributable contract costs incurred to date in the accounting period. Where it is considered that the outcome of a long-term contract cannot be assessed with reasonable certainty before its conclusion no profit is recognised on such a contract during an accounting period prior to its completion. Where there are foreseeable losses on a contracts then provision is made for these losses by setting them off against costs within work in progress and then providing for any excess within creditors. Where contracts are not long-term in nature revenue is recognised such that the right to consideration has accrued on a part completed contract.

Financial instruments

Basic financial instruments are recognized at amortised cost, except for investments in non-convertible

preference and non-puttable ordinary shares which are measured at fair value, with changes recognized in profit or loss.

Cash and cash equivalents

Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at

transaction price. Any losses arising from impairment are recognized in the income statement in other perating

expenses.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Hire purchase and leasing commitments

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 33 (2019 - 33 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 July 2019

566,855

15,164

416,474

19,541

1,018,034

Additions

8,596

-

192,349

-

200,945

Disposals

-

-

(85,240

)

-

(85,240

)

At 30 June 2020

575,451

15,164

523,583

19,541

1,133,739

DEPRECIATION

At 1 July 2019

476,908

12,391

276,493

16,076

781,868

Charge for year

19,708

277

74,123

693

94,801

Eliminated on disposal

-

-

(45,930

)

-

(45,930

)

At 30 June 2020

496,616

12,668

304,686

16,769

830,739

NET BOOK VALUE

At 30 June 2020

78,835

2,496

218,897

2,772

303,000

At 30 June 2019

89,947

2,773

139,981

3,465

236,166

5.

STOCKS

2020

2019

£

£

Stocks

45,184

63,348

Work-in-progress

(92,971

)

(30,864

)

(47,787

)

32,484

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

340,042

647,494

Other debtors

3,678

6,603

Prepayments

86,557

64,102

430,277

718,199

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

211,905

335,193

Associated company loan

-

35,000

Tax

394

92,208

Social security and other taxes

31,967

39,930

Net wages control

8,974

8,508

VAT

85,903

66,746

Other creditors

5,411

5,582

Accrued expenses

101,951

360,375

446,505

943,542

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Andrew Edwards ACCA ACA (Senior Statutory Auditor)

for and on behalf of Dunhams

9.	RELATED PARTY DISCLOSURES

During the year management fees of £193,414 (2019 £280,000) were paid to the parent company.

10.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr J H Russell.