Maunder Taylor Services Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 07779405 (England and Wales)

MAUNDER TAYLOR SERVICES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

BR Maunder Taylor

M H Maunder Taylor

R G Maunder Taylor

REGISTERED OFFICE:

Broad House

1 The Broadway

Old Hatfield

Hertfordshire

AL9 5BG

REGISTERED NUMBER:

07779405 (England and Wales)

ACCOUNTANTS:

Jones Hunt & Keelings

Chartered Certified Accountants and

Chartered Tax Advisers

Broad House

1 The Broadway

Old Hatfield

Hertfordshire

AL9 5BG

CURRENT ASSETS

Debtors

4

139,688

146,416

Cash at bank

1

1

139,689

146,417

CREDITORS

Amounts falling due within one year

5

138,855

145,671

NET CURRENT ASSETS

834

746

TOTAL ASSETS LESS CURRENT LIABILITIES

834

746

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

734

646

834

746

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 8 December 2023 and were signed on its behalf by:

BR Maunder Taylor - Director

1.	STATUTORY INFORMATION

Maunder Taylor Services 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

Accounting convention

These financial statements have been prepared in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied, other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Going concern

The directors have a reasonable expectation that the company will continue to operate for the foreseeable future and so these financial statements are again prepared on the going concern basis.

Significant judgements and estimates

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Directors opinion, there are no significant judgements or key sources of estimation uncertainty.

Revenue recognition

Turnover represents fees receivable for the provision of staff, excluding value added tax. Turnover is recognised as staff are supplied at the amount receivable for that supply.

Government grants

Government grants have been accounted for under the accrual model, recognised as other income against the period to which they relate.

Financial instruments

The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation

The income tax expense is the aggregate of tax currently payable and deferred tax.

The tax currently payable is based on the taxable profits of the year. Taxable profits differ from the profits reported in the statement of comprehensive income because of (a) items of income or expense that are taxable or deductible in other years and (b) items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences that have originated but not reversed by the balance sheet date. Typically, timing differences arise when tax relief is claimed in one period but the related expenditure is charged to profit in another period. Deferred tax assets and liabilities are recorded at the tax rates that are expected to apply in the period in which the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

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.

Employee benefits

Short-term employee benefits are recognised as expenses in the period in which they are incurred.

Obligations for contributions to defined contribution schemes are recognised as expenses in the period in which they are incurred. The assets of these schemes are held separately from those of the company in independently administered funds.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 36 (2022 - 34 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

139,688

119,902

Other debtors

-

26,514

139,688

146,416

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Taxation and social security

82,147

76,736

Other creditors

56,708

68,935

138,855

145,671

6.	PENSION COMMITMENTS

The pension charge of £21,370 (2022: £17,465) represents contributions payable for the year by the company for its employees to defined contribution pension schemes. At the balance sheet date the company owed pension contributions of £3,983 (2022: £3,737).