M J Boyce Surfacing Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09691489 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2021

FOR

M J BOYCE SURFACING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M J Boyce

J P Boyce

SECRETARY:

Mrs L J Boyce

REGISTERED OFFICE:

Virginia House

56 Warwick Road

Olton

Solihull

West Midlands

B92 7HX

REGISTERED NUMBER:

09691489 (England and Wales)

ACCOUNTANTS:

Financial Accounting Services Limited

Virginia House

56 Warwick Road

Solihull

United Kingdom

West Midlands

B92 7HX

FIXED ASSETS

Tangible assets

4

66,772

-

CURRENT ASSETS

Debtors

5

58,864

54,128

Cash at bank

142,931

76,761

201,795

130,889

CREDITORS

Amounts falling due within one year

6

171,116

32,742

NET CURRENT ASSETS

30,679

98,147

TOTAL ASSETS LESS CURRENT LIABILITIES

97,451

98,147

CREDITORS

Amounts falling due after more than one year

7

48,333

50,000

NET ASSETS

49,118

48,147

CAPITAL AND RESERVES

Called up share capital

111

111

Retained earnings

49,007

48,036

SHAREHOLDERS' FUNDS

49,118

48,147

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 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 31 March 2022 and were signed on its behalf by:

M J Boyce - Director

1.	STATUTORY INFORMATION

M J Boyce Surfacing 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.

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 NIL (2020 - NIL).

4.	TANGIBLE FIXED ASSETS

Motor

vehicles

£

COST

Additions

83,465

At 31 July 2021

83,465

DEPRECIATION

Charge for year

16,693

At 31 July 2021

16,693

NET BOOK VALUE

At 31 July 2021

66,772

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

33,710

54,128

Other debtors

25,154

-

58,864

54,128

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

168,510

25,479

Taxation and social security

-

4,837

Other creditors

2,606

2,426

171,116

32,742

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans

48,333

50,000

8.	RELATED PARTY DISCLOSURES

During the year the company transacted with a related party, related due to common directorship and shareholdings.

Income received from related party £84,080 (2020 - £90,000)

Payments to related party in respect of cost of sales and expenditure totalled £368,750 (2020 - £124,257)

Amount due to related party at the balance sheet date was £24,835 (Due from related parties 2020 - £66,265)