Man Friday (SW) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06715687 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2020

FOR

MAN FRIDAY (SW) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P C Hartle

Mrs C A Hartle

REGISTERED OFFICE:

2 Barnfield Crescent

Exeter

Devon

EX1 1QT

REGISTERED NUMBER:

06715687 (England and Wales)

ACCOUNTANTS:

Bush & Co Limited

2 Barnfield Crescent

Exeter

United Kingdom

Devon

EX1 1QT

BANKERS:

Barclays Bank Plc

P.O.Box 330

3 Bedford Street

Exeter

Devon

EX1 1ZN

FIXED ASSETS

Intangible assets

5

-

-

Tangible assets

6

2,692

2,091

2,692

2,091

CURRENT ASSETS

Stocks

1,650

1,800

Debtors

7

105,085

86,715

Cash at bank

10,464

18,341

117,199

106,856

CREDITORS

Amounts falling due within one year

8

78,480

70,463

NET CURRENT ASSETS

38,719

36,393

TOTAL ASSETS LESS CURRENT LIABILITIES

41,411

38,484

PROVISIONS FOR LIABILITIES

511

397

NET ASSETS

40,900

38,087

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

40,800

37,987

SHAREHOLDERS' FUNDS

40,900

38,087

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 December 2020 and were signed on its behalf by:

P C Hartle - Director

1.	STATUTORY INFORMATION

Man Friday (SW) 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill was purchased on commencement of trade and has been fully amortised in the first period of trade.

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

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

Plant & machinery

-

15% on reducing balance

Computer equipment

-

25% on cost

Stocks

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.

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 or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss, 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.

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.

Amounts recoverable on contract

Income is recognised as revenue in the period as services are performed. Any income arisen but not yet invoiced has been included in the financial statements as amounts recoverable on contract.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2019 - 5 ) .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2019

and 31 March 2020

440

AMORTISATION

At 1 April 2019

and 31 March 2020

440

NET BOOK VALUE

At 31 March 2020

-

At 31 March 2019

-

6.	TANGIBLE FIXED ASSETS

Plant &

Computer

machinery

equipment

Totals

£

£

£

COST

At 1 April 2019

5,263

430

5,693

Additions

375

596

971

At 31 March 2020

5,638

1,026

6,664

DEPRECIATION

At 1 April 2019

3,172

430

3,602

Charge for year

346

24

370

At 31 March 2020

3,518

454

3,972

NET BOOK VALUE

At 31 March 2020

2,120

572

2,692

At 31 March 2019

2,091

-

2,091

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

38,524

36,705

Amounts recoverable on contract

3,850

6,000

Other debtors

62,711

44,010

105,085

86,715

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

2,792

11,337

Trade creditors

13,744

14,696

Taxation and social security

20,498

21,048

Other creditors

41,446

23,382

78,480

70,463

9.	RELATED PARTY DISCLOSURES

At 31 March 2020, the company owed £29,900 (2019:£Nil) to its parent company. The company is also owed £62,110 (2019:£44,010) from an associated company. No interest was charged.