Macrays Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04016194 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2021

for

Macrays Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Miss W A Crayden

SECRETARY:

Miss W A Crayden

REGISTERED OFFICE:

Lancaster House

Sopwith Crescent

Wickford

Essex.

SS11 8YU

REGISTERED NUMBER:

04016194 (England and Wales)

ACCOUNTANTS:

Macrays Accountants & Business Advisers

Lancaster House

Sopwith Crescent

Shotgate

Wickford

Essex

SS11 8YU

FIXED ASSETS

Intangible assets

4

20,462

25,509

Tangible assets

5

1,964

1,845

22,426

27,354

CURRENT ASSETS

Stocks

8,344

4,500

Debtors

6

39,609

24,420

Cash at bank and in hand

37,691

37,304

85,644

66,224

CREDITORS

Amounts falling due within one year

7

80,262

67,536

NET CURRENT ASSETS/(LIABILITIES)

5,382

(1,312

)

TOTAL ASSETS LESS CURRENT LIABILITIES

27,808

26,042

CAPITAL AND RESERVES

Called up share capital

1,002

1,002

Retained earnings

8

26,806

25,040

SHAREHOLDERS' FUNDS

27,808

26,042

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 July 2021 and were signed by:

Miss W A Crayden - Director

1.	STATUTORY INFORMATION

Macrays 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, 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 2002. This is being written of over 20 years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 25% WDV

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2020 - 7 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2020

and 31 March 2021

100,925

AMORTISATION

At 1 April 2020

75,416

Charge for year

5,047

At 31 March 2021

80,463

NET BOOK VALUE

At 31 March 2021

20,462

At 31 March 2020

25,509

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2020

8,649

Additions

777

At 31 March 2021

9,426

DEPRECIATION

At 1 April 2020

6,804

Charge for year

658

At 31 March 2021

7,462

NET BOOK VALUE

At 31 March 2021

1,964

At 31 March 2020

1,845

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

35,659

19,713

Other debtors

3,950

4,707

39,609

24,420

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Payments on account

60,900

46,885

Taxation and social security

14,524

11,747

Other creditors

4,838

8,904

80,262

67,536

8.

RESERVES

Retained

earnings

£

At 1 April 2020

25,040

Profit for the year

11,766

Dividends

(10,000

)

At 31 March 2021

26,806