Max Thomas Family Holdings Ltd - Accounts to registrar (filleted) - small 18.2
Max Thomas Family Holdings Ltd - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2020 |
| FOR |
| MAX THOMAS FAMILY HOLDINGS LTD |
| MAX THOMAS FAMILY HOLDINGS LTD (REGISTERED NUMBER: 01317804) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2020 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 3 |
| MAX THOMAS FAMILY HOLDINGS LTD |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MARCH 2020 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 1 Kings Avenue |
| London |
| N21 3NA |
| MAX THOMAS FAMILY HOLDINGS LTD (REGISTERED NUMBER: 01317804) |
| STATEMENT OF FINANCIAL POSITION |
| 31 MARCH 2020 |
| 2020 | 2019 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Property, plant and equipment | 4 |
| Investments | 5 |
| Investment property | 6 |
| CURRENT ASSETS |
| Debtors | 7 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | 10 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Share premium |
| Fair value reserve | 11 |
| Retained earnings |
| 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 and authorised for issue on were signed on its behalf by: |
| MAX THOMAS FAMILY HOLDINGS LTD (REGISTERED NUMBER: 01317804) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2020 |
| 1. | STATUTORY INFORMATION |
| Max Thomas Family Holdings Ltd is a |
| 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 |
| Preparation of consolidated financial statements |
| The financial statements contain information about Max Thomas Family Holdings Ltd as an individual company |
| and do not contain consolidated financial information as the parent of a group. The company is exempt under |
| Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
| Significant judgements and estimates |
| In the application of the company's accounting policies, the director is required to make judgements, estimates |
| and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other |
| sources. The estimates and associated assumptions are based on historical experience and other factors that |
| are relevant. Actual results may differ from these estimates. |
| The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting |
| estimates are recognised in the period in which the estimate is revised where the revision affects only that period |
| or in the period of the revision and future periods where the revision affects both current and future periods. |
| There are no significant judgements or estimates involved in the preparation of the financial statements. |
| Revenue |
| Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
| value added tax and other sales taxes. |
| Revenue represents the rent receivable by the company. |
| Property, plant and equipment |
| Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment |
| losses. Such cost includes costs directly attributable to making the assets capable of operating as intended. |
| The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances |
| indicate the carrying value may not be recoverable. |
| Depreciation has been provided at the following rates in order to write off the assets over their estimated useful |
| lives. |
| Plant and machinery 15% reducing balance |
| The company has adopted the policy of not depreciating the assets in the first year, however full depreciation is |
| provided in the year of disposal. |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost less impairment. |
| 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. |
| MAX THOMAS FAMILY HOLDINGS LTD (REGISTERED NUMBER: 01317804) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2020 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 statement of financial position date. |
| Deferred tax |
| Deferred tax is recognised in respect of all material 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. |
| Cash and cash equivalent |
| Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term |
| deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid |
| investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of |
| changes in value. |
| 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 and loss. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | PROPERTY, PLANT AND EQUIPMENT |
| Plant and |
| machinery |
| £ |
| COST |
| At 1 April 2019 |
| and 31 March 2020 |
| DEPRECIATION |
| At 1 April 2019 |
| Charge for year |
| At 31 March 2020 |
| NET BOOK VALUE |
| At 31 March 2020 |
| At 31 March 2019 |
| MAX THOMAS FAMILY HOLDINGS LTD (REGISTERED NUMBER: 01317804) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2020 |
| 5. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1 April 2019 |
| Impairments | ( |
) |
| At 31 March 2020 |
| NET BOOK VALUE |
| At 31 March 2020 |
| At 31 March 2019 |
| 6. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 April 2019 |
| Disposals | ( |
) |
| Impairments | (720,557 | ) |
| At 31 March 2020 |
| NET BOOK VALUE |
| At 31 March 2020 |
| At 31 March 2019 |
| The directors consider that the market values of the properties as at 31 March 2020 were as per the values |
| stated in the financial statements. |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Other debtors |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Bank loans and overdrafts |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2020 | 2019 |
| £ | £ |
| Bank loans | 208,813 | - |
| Bank loan is secured by way of fixed and floating charge on the property and other assets of the company and |
| contains a negative pledge. |
| MAX THOMAS FAMILY HOLDINGS LTD (REGISTERED NUMBER: 01317804) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2020 |
| 10. | PROVISIONS FOR LIABILITIES |
| 2020 | 2019 |
| £ | £ |
| Deferred tax | 726,921 | 979,014 |
| Deferred |
| tax |
| £ |
| Balance at 1 April 2019 |
| Provided during year | ( |
) |
| Balance at 31 March 2020 |
| 11. | RESERVES |
| Fair |
| value |
| reserve |
| £ |
| At 1 April 2019 |
| Movement during the year | (792,761 | ) |
| At 31 March 2020 |
| 12. | RELATED PARTY DISCLOSURES |
| Included in other creditors is an amount of £7,036 owed to the directors of the company. The loan is interest free |
| and repayable on demand. |