Metcalf Moat IFA Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04825993 (England and Wales)

METCALF MOAT IFA LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

Page

Company information

1

Balance sheet

2

Notes to the financial statements

3

Chartered accountants' report

5

DIRECTORS:

C A Moat

Mrs S Riley

J M Riley

L Taylor

Mrs A K Taylor

SECRETARY:

Mrs A K Taylor

REGISTERED OFFICE:

3 Victoria Works

6 Fairway

Petts Wood

Kent

BR5 1EG

REGISTERED NUMBER:

04825993 (England and Wales)

ACCOUNTANTS:

Berringers LLP

Chartered Accountants

Lygon House

50 London Road

Bromley

Kent

BR1 3RA

FIXED ASSETS

Tangible assets

4

4,787

5,984

CURRENT ASSETS

Cash at bank and in hand

228,075

199,346

CREDITORS

Amounts falling due within one year

5

53,338

46,733

NET CURRENT ASSETS

174,737

152,613

TOTAL ASSETS LESS CURRENT LIABILITIES

179,524

158,597

CAPITAL AND RESERVES

Called up share capital

507

507

Retained earnings

179,017

158,090

179,524

158,597

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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 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 27 April 2022 and were signed on its behalf by:

J M Riley - Director

1.	STATUTORY INFORMATION

Metcalf Moat IFA 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 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, net of discounts and value added taxes. Turnover is earned from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

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 etc

-

20% on reducing balance

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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.

The company contributes to personal pension plans of its directors. The amount charged to the profit and loss in respect of pension costs is the contributions payable in the year.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2021 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 April 2021

and 31 March 2022

23,618

24,574

48,192

DEPRECIATION

At 1 April 2021

22,839

19,369

42,208

Charge for year

156

1,041

1,197

At 31 March 2022

22,995

20,410

43,405

NET BOOK VALUE

At 31 March 2022

623

4,164

4,787

At 31 March 2021

779

5,205

5,984

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade creditors

-

(1,609

)

Taxation and social security

47,826

40,890

Other creditors

5,512

7,452

53,338

46,733

6.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2022

2021

£

£

Within one year

5,550

22,200

Between one and five years

-

5,550

5,550

27,750

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 Balance sheet. 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 Metcalf Moat IFA Limited for the year ended 31 March 2022 which comprise the Statement of income and retained earnings, Balance sheet 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 Metcalf Moat IFA 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 Metcalf Moat IFA Limited and state those matters that we have agreed to state to the Board of Directors of Metcalf Moat IFA 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 Metcalf Moat IFA Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Metcalf Moat IFA 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 Metcalf Moat IFA Limited. You consider that Metcalf Moat IFA 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 Metcalf Moat IFA 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.

Berringers LLP

Chartered Accountants

Lygon House

50 London Road

Bromley

Kent

BR1 3RA

27 April 2022