M & G Vincent Pest Control Ltd - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 11894680 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2022

for

M & G VINCENT PEST CONTROL LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G J Vincent

M O Vincent

REGISTERED OFFICE:

155 Wellingborough Road

Rushden

Northamptonshire

NN10 9TB

REGISTERED NUMBER:

11894680 (England and Wales)

ACCOUNTANT:

Elsby & Co

155 Wellingborough Road

Rushden

Northamptonshire

NN10 9TB

FIXED ASSETS

Intangible assets

4

6,600

9,900

Tangible assets

5

1,974

2,976

8,574

12,876

CURRENT ASSETS

Debtors

6

52,575

34,846

Cash at bank

1,596

533

54,171

35,379

CREDITORS

Amounts falling due within one year

7

42,300

36,729

NET CURRENT ASSETS/(LIABILITIES)

11,871

(1,350

)

TOTAL ASSETS LESS CURRENT LIABILITIES

20,445

11,526

CREDITORS

Amounts falling due after more than one year

8

(16,775

)

(10,800

)

PROVISIONS FOR LIABILITIES

(375

)

(565

)

NET ASSETS

3,295

161

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

3,195

61

SHAREHOLDERS' FUNDS

3,295

161

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 February 2023 and were signed on its behalf by:

M O Vincent - Director

1.	STATUTORY INFORMATION

M & G Vincent Pest Control Ltd 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.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of five years.

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

-

33% on cost

Motor vehicles

-

33% on reducing balance

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 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.

Going concern

Previous accounting periods were affected by the Coronavirus pandemic but the company has continued to recover and bounce back from this difficult trading period.

At the date of signing the company has continued trading with funds still in the company bank for day to day trading. The company is still continues to do business with all of its customers, including the providers of the larger contracts, and looking ahead, the company doesn't expect this to change and company sales have increased post year end.

Also within the company assets, a large part of the asset consists of funds owed to the company from the directors, who have indicated that their support and repayment of the funds to the company will continue for the foreseeable future and as an indication of this support, once of the directors repaid £23,000 back into the company just after the year end.

Based on the review undertaken and their continued support, the directors have an expectation that the company has adequate resources to continue in operational existence for the foreseeable future and are happy to adopt the going concern basis of accounting in preparing the annual financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4.	INTANGIBLE FIXED ASSETS

Patents

and

licences

£

COST

At 1 April 2021

and 31 March 2022

16,500

AMORTISATION

At 1 April 2021

6,600

Amortisation for year

3,300

At 31 March 2022

9,900

NET BOOK VALUE

At 31 March 2022

6,600

At 31 March 2021

9,900

5.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 April 2021

and 31 March 2022

520

5,591

6,111

DEPRECIATION

At 1 April 2021

29

3,106

3,135

Charge for year

173

829

1,002

At 31 March 2022

202

3,935

4,137

NET BOOK VALUE

At 31 March 2022

318

1,656

1,974

At 31 March 2021

491

2,485

2,976

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

10,828

-

Other debtors

41,747

34,846

52,575

34,846

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Bank loans and overdrafts

2,700

2,700

Trade creditors

4,919

1,182

Taxation and social security

30,901

27,663

Other creditors

3,780

5,184

42,300

36,729

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Bank loans

16,775

10,800

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

100

Ordinary

1

100

100

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2022 and 31 March 2021:

2022

2021

£

£

M O Vincent

Balance outstanding at start of year

26,299

(4,497

)

Amounts advanced

25,499

32,004

Amounts repaid

(13,877

)

(1,208

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

37,921

26,299