M.P.W. Planning Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02709654 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2020

FOR

M.P.W. PLANNING LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

C J Francis

SECRETARY:

C J Francis

REGISTERED OFFICE:

127 Metal Box Factory

30 Great Guilford Street

London

SE1 0HS

REGISTERED NUMBER:

02709654 (England and Wales)

ACCOUNTANTS:

Ballams

Chartered Accountants

Crane Court

302 London Road

Ipswich

Suffolk

IP2 0AJ

FIXED ASSETS

Tangible assets

4

4,610

5,451

CURRENT ASSETS

Stocks

20,217

38,065

Debtors

5

33,660

37,937

Cash at bank and in hand

85,073

69,691

138,950

145,693

CREDITORS

Amounts falling due within one year

6

23,993

30,599

NET CURRENT ASSETS

114,957

115,094

TOTAL ASSETS LESS CURRENT LIABILITIES

119,567

120,545

CAPITAL AND RESERVES

Called up share capital

3

3

Retained earnings

119,564

120,542

SHAREHOLDERS' FUNDS

119,567

120,545

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 6 April 2021 and were signed by:

C J Francis - Director

1.	STATUTORY INFORMATION

M.P.W. Planning 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 represents the fair value of services provided during the year on client assignments. Turnover is recognised as each job progresses and the right to consideration is earned. Turnover excludes Value Added Tax.

Tangible fixed assets

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

Plant and machinery

-

20% on reducing balance

Government grants

Grants have been received from the Small Business Grant Fund. Grants received have been credited to other operating income so as to match them with the expenditure to which they relate.

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.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and loans with related parties.

Debt instruments that are payable or receivable within one year, such as trade payables or receivables, are measured at the undiscounted amount of the cash or other consideration expected to be paid or received. Debt instruments that are repayable or receivable after one year are initially measured at the present value of the future cash flows and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each financial year for evidence of impairment. If objective evidence of impairment is found an impairment loss is recognised in the Income Statement.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 June 2019

34,136

Additions

312

At 31 May 2020

34,448

DEPRECIATION

At 1 June 2019

28,685

Charge for year

1,153

At 31 May 2020

29,838

NET BOOK VALUE

At 31 May 2020

4,610

At 31 May 2019

5,451

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

350

4,500

Other debtors

33,310

33,437

33,660

37,937

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

318

4,850

Taxation and social security

6,943

13,896

Other creditors

16,732

11,853

23,993

30,599

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2020 and 31 May 2019:

2020

2019

£

£

C J Francis

Balance outstanding at start of year

17,163

16,700

Amounts advanced

13,704

11,713

Amounts repaid

(9,832

)

(11,250

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

21,035

17,163