Maxwell Pinborough Limited - Accounts to registrar (filleted) - small 18.2

Maxwell Pinborough Limited - Accounts to registrar (filleted) - small 18.2

MAXWELL PINBOROUGH LIMITED - Company Information

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REGISTERED NUMBER: 04187244 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

FOR

MAXWELL PINBOROUGH LIMITED
MAXWELL PINBOROUGH LIMITED (REGISTERED NUMBER: 04187244)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MAXWELL PINBOROUGH LIMITED

COMPANY INFORMATION
for the Year Ended 31 March 2021







DIRECTORS: A J Pinborough
S J Maxwell





SECRETARY: S J Maxwell





REGISTERED OFFICE: Unit 3 Excalibur Works
13 Argall Avenue
London
E10 7QE





REGISTERED NUMBER: 04187244 (England and Wales)





ACCOUNTANTS: Stein Richards
Chartered Accountants
10 London Mews
Paddington
London
W2 1HY
Page 1
MAXWELL PINBOROUGH LIMITED (REGISTERED NUMBER: 04187244)

BALANCE SHEET
31 March 2021

31.3.21 31.3.20
Notes £    £   
CURRENT ASSETS
Debtors 5 36,462 24,230
Cash at bank 46,621 73,167
83,083 97,397
CREDITORS
Amounts falling due within one year 6 75,823 94,140
NET CURRENT ASSETS 7,260 3,257
TOTAL ASSETS LESS CURRENT
LIABILITIES
7,260
3,257

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 7,160 3,157
7,260 3,257

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 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 9 December 2021 and were signed on its behalf by:




S J Maxwell - Director



A J Pinborough - Director


The notes form part of these financial statements

Page 2
MAXWELL PINBOROUGH LIMITED (REGISTERED NUMBER: 04187244)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2021

1. STATUTORY INFORMATION

Maxwell Pinborough 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.

Going Concern
The financial statements have been prepared on a going concern basis as the directors believe that adequate cash resources will be available to cover the company's requirements for working capital and capital expenditure for at least the next twelve months. This statement has been made after a review of the impact of Covid-19 on the company's trading activities.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Sales are recognised in the period the project is completed.

Government grants
Grants are accounted for under the accruals method of accounting.

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 debtors and creditors and loans to related parties.

The basic financial debtors and liabilities as listed above are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future payments/receipts discounted at a market rate of interest. Such instruments are subsequently carried at amortised costs using the effective interest method, less any impairment. An impairment review is undertaken annually at the balance sheet date.

Taxation
Taxation for the year comprises of current and prior year tax only. 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.

Taxation assets and liabilities are not discounted.

Current and prior year tax 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.

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 pension contributions made during the year are charged to the profit and loss account. The contributions are not to a company pension scheme but to private funds held outside the company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2020 - 6 ) .

Page 3 continued...
MAXWELL PINBOROUGH LIMITED (REGISTERED NUMBER: 04187244)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2021

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2020
and 31 March 2021 35,189
DEPRECIATION
At 1 April 2020
and 31 March 2021 35,189
NET BOOK VALUE
At 31 March 2021 -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.21 31.3.20
£    £   
Trade debtors 36,462 24,230

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.21 31.3.20
£    £   
Taxation and social security 42,669 17,595
Other creditors 33,154 76,545
75,823 94,140

7. RESERVES

During the year dividends of £35,000 (2020: £17,000) were paid. The only other movement in reserves was the reported result for the year.

8. GOVERNMENT GRANTS AND ASSISTANCE

During the period the company received Job Retention Scheme (JRS) monies in the sum of £29,678 disclosed as Other operating income. The company also deferred the VAT liability for the quarter ended 31st March 2020 (£15,660). Both the JRS and deferment of VAT were implemented by the government as a result of the worldwide covid-19 pandemic.

9. OTHER FINANCIAL COMMITMENTS

Operating lease commitments not included in the balance sheet amount to £119,751 (2020: £153,134).

10. RELATED PARTY DISCLOSURES

As at 31 March 2021 the company owed the directors the sum of £25,559 (2020: £25,559), included within Other creditors. No interest is payable on the loans.

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