MAYFLOWER NORTH WEST LIMITED - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06599069 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021

FOR

MAYFLOWER NORTH WEST LIMITED

Page

Statement of Financial Position

1

to

2

Notes to the Financial Statements

3

to

7

FIXED ASSETS

Tangible assets

4

41,642

20,501

CURRENT ASSETS

Debtors

5

403,890

552,857

Cash at bank

244,592

237,298

648,482

790,155

CREDITORS

Amounts falling due within one year

6

(157,354

)

(282,146

)

NET CURRENT ASSETS

491,128

508,009

TOTAL ASSETS LESS CURRENT LIABILITIES

532,770

528,510

PROVISIONS FOR LIABILITIES

(6,371

)

(3,398

)

NET ASSETS

526,399

525,112

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

526,398

525,111

526,399

525,112

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

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

The financial statements were approved by the director and authorised for issue on 21 January 2022 and were signed by:

K Flowers - Director

1.	STATUTORY INFORMATION

MAYFLOWER NORTH WEST LIMITED is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

06599069

Registered office:

St Georges House

Dragons Lane

Moston

Sandbach

Cheshire

CW11 3PA

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.

Significant judgements and estimates

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

(a) Critical accounting estimates and assumptions

The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.

(i) Useful economic lives of tangible assets

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and physical condition of the assets. See tangible assets note for the carrying amount of the assets and the accounting policy for the useful economic lives for each class of assets.

Revenue recognition

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

Revenue is recognised at the fair value of the consideration received or receivable and in which the services are rendered, stated net of discounts and of Value Added Tax. Revenue is recognised in the accounting period in which the services are rendered

Tangible fixed assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

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

Fixtures & Fittings - 20% on reducing balance

Plant and Machinery - 15% on reducing balance

Motor Vehicles - 20 % on reducing balance

Impairment of Fixed Assets

A review for indicators of impairment is carried out at each reporting date, with recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purpose of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash- generating unit to which the asset belongs. The cash- generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or group of assets.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2020 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Short

Plant and

and

Motor

leasehold

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 August 2020

-

453

39,590

40,765

80,808

Additions

40,810

605

799

-

42,214

Disposals

-

(1,058

)

-

(40,765

)

(41,823

)

At 31 July 2021

40,810

-

40,389

-

81,199

DEPRECIATION

At 1 August 2020

-

68

29,146

31,093

60,307

Charge for year

8,162

111

2,249

-

10,522

Eliminated on disposal

-

(179

)

-

(31,093

)

(31,272

)

At 31 July 2021

8,162

-

31,395

-

39,557

NET BOOK VALUE

At 31 July 2021

32,648

-

8,994

-

41,642

At 31 July 2020

-

385

10,444

9,672

20,501

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.21

31.7.20

£

£

Trade debtors

146,357

90,927

Amounts owed by group undertakings

157,967

391,239

Other debtors

99,566

70,691

403,890

552,857

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.21

31.7.20

£

£

Trade creditors

52,527

28,774

Taxation and social security

91,036

148,330

Other creditors

13,791

105,042

157,354

282,146

7.	RELATED PARTY DISCLOSURES

Transactions with directors are deemed to be under normal market conditions and/or not material.

The company has taken advantage of the exemption from the disclosures required by paragraph

33.1A of Financial Reporting Standard 102 regarding transactions between fellow group

companies.

8.	EVENTS AFTER THE END OF THE REPORTING PERIOD

There were no material events up to the date of approval of the financial statements by the board.

9.	ULTIMATE CONTROLLING PARTY

The director considers Mayflower North West (Holdings) Limited, a company registered in England and Wales, to be the ultimate parent undertaking by virtue of their 100% shareholding in the company.