J. Markfield Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04010062 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2020

FOR

J. MARKFIELD LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Ms N F Murch

Mrs S L Farrow

Mr J Harris

Mr J B Harris

REGISTERED OFFICE:

19-20 Bourne Court

Southend Road

Woodford Green

Essex

IG8 8HD

REGISTERED NUMBER:

04010062 (England and Wales)

ACCOUNTANTS:

Raffingers LLP

Chartered Certified Accountants

19-20 Bourne Court

Southend Road

Woodford Green

Essex

IG8 8HD

FIXED ASSETS

Intangible assets

4

-

4,934

Tangible assets

5

8,885

11,461

8,885

16,395

CURRENT ASSETS

Debtors

400,141

249,384

Cash at bank and in hand

121,165

105,111

521,306

354,495

CREDITORS

Amounts falling due within one year

404,408

253,519

NET CURRENT ASSETS

116,898

100,976

TOTAL ASSETS LESS CURRENT LIABILITIES

125,783

117,371

PROVISIONS FOR LIABILITIES

1,607

856

NET ASSETS

124,176

116,515

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

124,076

116,415

SHAREHOLDERS' FUNDS

124,176

116,515

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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2020 in accordance with Section 444(2A) of the Companies Act 2006.

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 16 February 2021 and were signed on its behalf by:

Ms N F Murch - Director

1.	STATUTORY INFORMATION

J. Markfield 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.

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, being the amount paid in connection with the acquisition of a business in 2000 was being amortised evenly over its estimated useful life of 30 years until 31 March 2011.

From 1 April 2012 onwards the useful life was revised to 20 years and the residual amount is now being amortised evenly over the estimated remaining useful life of 8 years.

Tangible fixed assets

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

Improvements to property

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

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.

Short term debtors and creditors

Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2019 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2019

and 31 March 2020

70,070

AMORTISATION

At 1 April 2019

65,136

Amortisation for year

4,934

At 31 March 2020

70,070

NET BOOK VALUE

At 31 March 2020

-

At 31 March 2019

4,934

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2019

127,415

Additions

555

Disposals

(3,000

)

At 31 March 2020

124,970

DEPRECIATION

At 1 April 2019

115,954

Charge for year

2,961

Eliminated on disposal

(2,830

)

At 31 March 2020

116,085

NET BOOK VALUE

At 31 March 2020

8,885

At 31 March 2019

11,461

6.	RELATED PARTY DISCLOSURES

At the balance sheet date the company was owed £150,000 (2019 - the company owed £1,096) by/(to) T Cribb & Sons (Willows ) Limited, a related company.

At the balance sheet date the company was owed £212,190 (2019 - £209,018) by T. Cribb & Sons, a related business.