Mawney Partners Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08643157 (England and Wales)

Mawney Partners Limited

Unaudited Financial Statements

for the year ended

31 July 2020

Page

Company Information

1

Chartered Accountants' Report

2

Statement of Financial Position

3

to

4

Notes to the Financial Statements

5

to

7

DIRECTORS:

J J Trister

P J Rostron

REGISTERED OFFICE:

373 Unthank Road

Norwich

NR4 7QG

REGISTERED NUMBER:

08643157 (England and Wales)

ACCOUNTANTS:

Haines Watts Rostrons

Chartered Accountants

Yare House

62-64 Thorpe Road

Norwich

Norfolk

NR1 1RY

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Mawney Partners Limited for the year ended 31 July 2020 which comprise the Income Statement, Statement of Financial Position and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

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

It is your duty to ensure that Mawney Partners Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Mawney Partners Limited. You consider that Mawney Partners 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 financial statements of Mawney Partners 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 financial statements.

Haines Watts Rostrons

Chartered Accountants

Yare House

62-64 Thorpe Road

Norwich

Norfolk

NR1 1RY

20 April 2021

FIXED ASSETS

Property, plant and equipment

4

36,108

4,103

CURRENT ASSETS

Debtors

5

34,484

144,043

Cash at bank

602,488

664,349

636,972

808,392

CREDITORS

Amounts falling due within one year

6

(148,325

)

(315,526

)

NET CURRENT ASSETS

488,647

492,866

TOTAL ASSETS LESS CURRENT LIABILITIES

524,755

496,969

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

524,655

496,869

524,755

496,969

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 April 2021 and were signed on its behalf by:

J J Trister - Director

1.	STATUTORY INFORMATION

Mawney Partners 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.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

The financial statements have been prepared under the historical cost convention

Revenue

Revenue is measured at the fair value of the consideration received or receivable, and represents amounts receivable for services rendered net of discounts, rebates, value added tax and other sales taxes.

Revenue from recruitment services is recognised at the point the candidate commences employment for a client, when the amount of revenue can be measured reliably and it is probable that future economic benefits will flow to the entity

Property, plant and equipment

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

Improvements to property

-

20% on cost

Fixtures and fittings

-

33% on cost

At the date of the statement of financial position, the company reviews the carrying value of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Taxation

Taxation represents tax currently payable on the taxable profits for the period.

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.

Leasing commitments

Rentals paid under operating leases are charged to the income statement on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company contributes to the personal pension schemes of certain employees. Contributions payable are charged to the income statement in the period to which they relate.

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. Contributions payable to the company's pension scheme are charged to the income statement in the period to which they relate.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the statement of financial position. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating result.

Financial instruments

Short-term debtors and creditors are measured at transaction price.

3.	EMPLOYEES AND DIRECTORS

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

4.	PROPERTY, PLANT AND EQUIPMENT

Improvements

Fixtures

to

and

property

fittings

Totals

£

£

£

COST

At 1 August 2019

-

8,659

8,659

Additions

41,470

1,491

42,961

Disposals

-

(2,024

)

(2,024

)

At 31 July 2020

41,470

8,126

49,596

DEPRECIATION

At 1 August 2019

-

4,556

4,556

Charge for year

8,294

2,662

10,956

Eliminated on disposal

-

(2,024

)

(2,024

)

At 31 July 2020

8,294

5,194

13,488

NET BOOK VALUE

At 31 July 2020

33,176

2,932

36,108

At 31 July 2019

-

4,103

4,103

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

22,500

134,828

Other debtors

11,984

9,215

34,484

144,043

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

7,922

1,184

Taxation and social security

76,667

55,610

Other creditors

63,736

258,732

148,325

315,526

7.	RELATED PARTY DISCLOSURES

Key management personnel of the entity

2020

2019

£

£

Interest-free unsecured loan due to related party

42,586

231,282

During the year total dividends of £170,000(2019 - £190,000) were paid to a director.