Mayforth Financial Services Limited - Period Ending 2022-10-31
Mayforth Financial Services Limited - Period Ending 2022-10-31
Registration number:
Mayforth Financial Services Limited
for the Year Ended 31 October 2022
Mayforth Financial Services Limited
Directors' Report for the Year Ended 31 October 2022
The directors present their report and the financial statements for the year ended 31 October 2022.
Directors of the company
The directors who held office during the year were as follows:
Small companies provision statement
This report has been prepared in accordance with the small companies regime under the Companies Act 2006.
Approved and authorised by the
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Mayforth Financial Services Limited
Profit and Loss Account for the Year Ended 31 October 2022
The company has not traded during the year. During this year, the company received no income and incurred no expenditure and therefore made neither profit nor loss.
Mayforth Financial Services Limited
(Registration number: 01114351)
Balance Sheet as at 31 October 2022
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2022 |
2021 |
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Fixed assets |
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Investments |
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Current assets |
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Debtors |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
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Shareholders' funds |
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For the financial year ending 31 October 2022 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Mayforth Financial Services Limited
(Registration number: 01114351)
Balance Sheet as at 31 October 2022
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the
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Mayforth Financial Services Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2022
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements are presented in Sterling (£), which is also the company's functional currency. Monetary amounts in these financial statements are rounded to the nearest £.
Investments
Investments in subsidiary undertakings are measured at cost less accumulated impairment.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Mayforth Financial Services Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2022
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:
2022 |
2021 |
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Administration and support |
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Investments |
2022 |
2021 |
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Investments in subsidiaries |
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Subsidiaries |
£ |
Cost or valuation |
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At 1 November 2021 |
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Carrying amount |
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At 31 October 2022 |
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At 31 October 2021 |
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Debtors |
Current |
2022 |
2021 |
Other debtors |
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Creditors |
2022 |
2021 |
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Due within one year |
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Accruals |
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Mayforth Financial Services Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2022
Share capital |
Allotted, called up and fully paid shares
2022 |
2021 |
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No. |
£ |
No. |
£ |
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2 |
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2 |