Maison Du Payne Ltd
Maison Du Payne Ltd
Registered number: 10455537
Unaudited Financial Statements
For The Year Ended
30 November 2021
Wordsfinance Limited t/a The Helpful Bean Counter
Maison Du Payne Ltd
Unaudited Financial Statements
For The Year Ended
30 November 2021
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—4 |
Maison Du Payne Ltd
Balance Sheet
As at
30 November 2021
Balance Sheet
Registered number:
10455537
For the year ending 30 November 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 3 |
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| CURRENT ASSETS | |||||
| Investments | 4 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 5 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 6 |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 7 |
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| Revaluation reserve |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 35,060 | 34,031 | |||
Maison Du Payne Ltd
Balance Sheet (continued)
As at
30 November 2021
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
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Director
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The notes on pages 3 to 4 form part of these financial statements.
Maison Du Payne Ltd
Notes to the Financial Statements
For The Year Ended
30 November 2021
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Freehold |
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No Depreciation has been provided in the year, as 5 St Johns Road, Southampton was revalued on the 15 December 2020, and 23 Priory Park was acquired during the year.
The cost of the properties includes all costs associated with the acquisition. In the case of 23 Priory Park this included a £4995 sourcing fee payable to an agent.
2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows: 1 (2020: 1)
3.
Tangible Assets
| Land & Property | |
|---|---|
| Freehold | |
| £ | |
| Cost or Valuation | |
| As at
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| Additions |
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| As at
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| Net Book Value | |
| As at
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| As at
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Maison Du Payne Ltd
Notes to the Financial Statements (continued)
For The Year Ended
30 November 2021
The analysis of the cost or valuation of the above assets is as follows:
| Land & Property | |
|---|---|
| Freehold | |
| £ | |
| As at
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| At cost | 261,589 |
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| As at
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| At cost | - |
| At valuation | 160,000 |
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The Property at 5 St Johns Road, Southampton was revalued on the 15 December 2020 at £160,000. No depreciation charge has been made in the curreny year.
4.
Current Asset Investments
| 2021 | 2020 | ||
|---|---|---|---|
| £ | £ | ||
| Other investments, held for sale |
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5.
Creditors: Amounts Falling Due Within One Year
| 2021 | 2020 | ||
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| £ | £ | ||
| Accruals and deferred income |
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| Director's loan account |
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6.
Creditors: Amounts Falling Due After More Than One Year
| 2021 | 2020 | ||
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| £ | £ | ||
| Mortgage (Long term liabilities - creditors > 1 year) |
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The balance represents interest only mortgages taken out on the following properties:
Paragon Mortgage on 5 Johns Road, Southampton £120,000
Fleet Mortgag on 9 Pages Croft, Dudley £69,562
8.
General Information
Maison Du Payne Ltd
is a private company, limited by shares, incorporated in England & Wales, registered number
10455537
. The registered office is 41 Heath Road, Locks Heath, Southampton, SO31 6PH.