Maunder Taylor Services Limited - Accounts to registrar (filleted) - small 18.2
Maunder Taylor Services Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| MAUNDER TAYLOR SERVICES LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2020 |
| MAUNDER TAYLOR SERVICES LIMITED (REGISTERED NUMBER: 07779405) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2020 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| MAUNDER TAYLOR SERVICES LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MARCH 2020 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Broad House |
| 1 The Broadway |
| Old Hatfield |
| Hertfordshire |
| AL9 5BG |
| MAUNDER TAYLOR SERVICES LIMITED (REGISTERED NUMBER: 07779405) |
| BALANCE SHEET |
| 31 MARCH 2020 |
| 2020 | 2019 |
| Notes | £ | £ |
| CURRENT ASSETS |
| Debtors | 4 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 5 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital |
| 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 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 |
| MAUNDER TAYLOR SERVICES LIMITED (REGISTERED NUMBER: 07779405) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2020 |
| 1. | STATUTORY INFORMATION |
| Maunder Taylor Services Limited is a |
| 2. | ACCOUNTING POLICIES |
| Accounting convention |
| These financial statements have been prepared in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied, other than where additional disclosure is required to show a true and fair view. |
| The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. |
| The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. |
| Going concern |
| The directors have a reasonable expectation that the company will continue to operate for the foreseeable future and so these financial statements are again prepared on the going concern basis. |
| Revenue recognition |
| Turnover represents fees receivable for the provision of staff, excluding value added tax. Turnover is recognised as staff are supplied at the amount receivable for that supply. |
| Taxation |
| The income tax expense is the aggregate of tax currently payable and deferred tax. |
| The tax currently payable is based on the taxable profits of the year. Taxable profits differ from the profits reported in the statement of comprehensive income because of (a) items of income or expense that are taxable or deductible in other years and (b) items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. |
| Deferred tax is recognised on timing differences that have originated but not reversed by the balance sheet date. Typically, timing differences arise when tax relief is claimed in one period but the related expenditure is charged to profit in another period. Deferred tax assets and liabilities are recorded at the tax rates that are expected to apply in the period in which the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. |
| 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. |
| Employee benefits |
| Short-term employee benefits are recognised as expenses in the period in which they are incurred. |
| Obligations for contributions to defined contribution schemes are recognised as expenses in the period in which they are incurred. The assets of these schemes are held separately from those of the company in independently administered funds. |
| MAUNDER TAYLOR SERVICES LIMITED (REGISTERED NUMBER: 07779405) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2020 |
| 2. | ACCOUNTING POLICIES - continued |
| Financial instruments |
| The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. |
| Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. |
| Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
| Basic financial assets |
| Basic financial assets, which include debtors, are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Trade debtors |
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Taxation and social security |
| Other creditors |
| 6. | PENSION COMMITMENTS |
| The pension charge of £19,094 (2019: £13,726) represents contributions payable for the year by the company for its employees to defined contribution pension schemes. At the balance sheet date the company owed pension contributions of £3,584 (2019: £2,449). |
| 7. | RELATED PARTY DISCLOSURES |
| The company is controlled by its directors. |
| During the year: |
| - £1,488,000 (2019: £1,487,000) was charged by the company for supplying staff to a firm of chartered surveyors in which the directors have an interest; at the balance sheet date, the company was owed £309,175 (2019: £295,384) by that firm; and |
| - dividends of £38,000 (2019: £47,000) were paid to the director and their wives; at the balance sheet date, the wife of a director was owed £16,173 (2019: £16,173). |
| The above debts are interest-free, unsecured and repayable on demand. |