Mapsong Limited - Period Ending 2020-03-31

Mapsong Limited

Contents

Company Information	1
Accountants' Report	2
Balance Sheet	3 to 4
Notes to the Unaudited Financial Statements	5 to 8

Mapsong Limited

Company Information

Directors

M Whitfield D Kelly

Company secretary

M Whitfield

Registered office

Cooper House Lower Charlton Estate Shepton Mallet Somerset BA4 5QE

Accountants

Burton Sweet Chartered Accountants and Business Advisers Cooper House Lower Charlton Estate Shepton Mallet Somerset BA4 5QE

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Mapsong Limited
Year Ended 31 March 2020

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Mapsong Limited for the year ended 31 March 2020 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of Mapsong Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Mapsong Limited and state those matters that we have agreed to state to the Board of Directors of Mapsong Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Mapsong Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Mapsong Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Mapsong Limited. You consider that Mapsong Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Mapsong Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

Burton Sweet
Chartered Accountants and Business Advisers
Cooper House
Lower Charlton Estate
Shepton Mallet
Somerset
BA4 5QE

8 December 2020

Mapsong Limited

(Registration number: 09077991)
Balance Sheet
31 March 2020

	Note	2020 £	2019 £
Fixed assets
Tangible assets	4	1,480	1,090
Current assets
Debtors	5	398	828
Cash at bank and in hand		5,450	766
		5,848	1,594
Creditors: Amounts falling due within one year	6	(4,566)	(2,653)
Net current assets/(liabilities)		1,282	(1,059)
Net assets		2,762	31
Capital and reserves
Called up share capital		2	2
Profit and loss account		2,760	29
Total equity		2,762	31

Mapsong Limited

(Registration number: 09077991)
Balance Sheet
31 March 2020

For the financial year ending 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 8 December 2020 and signed on its behalf by:
 

M Whitfield
Company secretary and director

Mapsong Limited

Notes to the Unaudited Financial Statements
Year Ended 31 March 2020

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Cooper House
Lower Charlton Estate
Shepton Mallet
Somerset
BA4 5QE

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Mapsong Limited

Notes to the Unaudited Financial Statements
Year Ended 31 March 2020

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Office equipment	33% straight line basis
Plant and machinery	25% straight line basis

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2019 - 1).

Mapsong Limited

Notes to the Unaudited Financial Statements
Year Ended 31 March 2020

4	Tangible assets

	Plant and machinery £	Office equipment £	Total £
Cost or valuation
At 1 April 2019	907	3,045	3,952
Additions	-	1,532	1,532
Disposals	-	(1,839)	(1,839)
At 31 March 2020	907	2,738	3,645
Depreciation
At 1 April 2019	454	2,408	2,862
Charge for the year	227	915	1,142
Eliminated on disposal	-	(1,839)	(1,839)
At 31 March 2020	681	1,484	2,165
Carrying amount
At 31 March 2020	226	1,254	1,480
At 31 March 2019	453	637	1,090

5

Debtors

	2020 £	2019 £
Trade debtors	398	228
Other debtors	-	600
	398	828

Mapsong Limited

Notes to the Unaudited Financial Statements
Year Ended 31 March 2020

6

Creditors

Creditors: amounts falling due within one year

	2020 £	2019 £
Due within one year
Taxation and social security	549	1,875
Accruals and deferred income	809	778
Other creditors	3,208	-
	4,566	2,653