MX Coach Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09611579 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2021

for

MX Coach Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

R Priest

SECRETARY:

REGISTERED OFFICE:

2, South Lodge Wolverley Rd

Wolverley

Kidderminster

Worcestershire

DY10 3QD

REGISTERED NUMBER:

09611579 (England and Wales)

ACCOUNTANTS:

SW&A Accountants

Unit 14

Elgar Business Centre

Moseley Road

Worcester

Worcestershire

WR2 6NJ

FIXED ASSETS

Tangible assets

4

17,461

8,724

CURRENT ASSETS

Debtors

5

2,061

2,061

Cash at bank

792

13,333

2,853

15,394

CREDITORS

Amounts falling due within one year

6

15,823

22,415

NET CURRENT LIABILITIES

(12,970

)

(7,021

)

TOTAL ASSETS LESS CURRENT LIABILITIES

4,491

1,703

PROVISIONS FOR LIABILITIES

3,317

1,658

NET ASSETS

1,174

45

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,074

(55

)

1,174

45

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 28 February 2022 and were signed by:

R Priest - Director

1.	STATUTORY INFORMATION

MX Coach 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.

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

-

25% on reducing balance and 15% on reducing balance

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2020 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 June 2020

10,264

Additions

10,045

At 31 May 2021

20,309

DEPRECIATION

At 1 June 2020

1,540

Charge for year

1,308

At 31 May 2021

2,848

NET BOOK VALUE

At 31 May 2021

17,461

At 31 May 2020

8,724

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.21

31.5.20

£

£

Other debtors

2,061

2,061

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.21

31.5.20

£

£

Trade creditors

1,408

415

Taxation and social security

-

4,418

Other creditors

14,415

17,582

15,823

22,415

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2021 and 31 May 2020:

31.5.21

31.5.20

£

£

R Priest

Balance outstanding at start of year

1,635

830

Amounts advanced

-

1,635

Amounts repaid

(2,067

)

(830

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(432

)

1,635