McDermott Publishing Limited - Accounts to registrar - small 17.1

REGISTERED NUMBER: 02855474 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2017

FOR

MCDERMOTT PUBLISHING LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs D R McDermott

R J Hitchenor

Mrs ME Hodgetts

SECRETARY:

Mrs D R McDermott

REGISTERED OFFICE:

Tudor House

2 The Green

Kings Norton

Birmingham

West Midlands

B38 8SD

REGISTERED NUMBER:

02855474 (England and Wales)

ACCOUNTANT:

Lawton Bradford Accountants Ltd

Tollgate Court Business Centre

Tollgate Court

Stafford

Staffordshire

ST16 3HS

FIXED ASSETS

Investments

4

4,664

4,664

CURRENT ASSETS

Debtors

5

177,428

190,287

Cash at bank

68,103

94,134

245,531

284,421

CREDITORS

Amounts falling due within one year

6

183,342

199,849

NET CURRENT ASSETS

62,189

84,572

TOTAL ASSETS LESS CURRENT LIABILITIES

66,853

89,236

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

66,753

89,136

SHAREHOLDERS' FUNDS

66,853

89,236

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 23 August 2017 and were signed on its behalf by:

Mrs D R McDermott - Director

1.	STATUTORY INFORMATION

McDermott Publishing Limited is a private company, limited by shares, registered in England and Wales. The

company's registered number is 02855474 and the registered office address is 2 The Green, Kings Norton,

Birmingham, B38 8SD.

The principal activity during the year was that of a publishing guides to the building and design industry.

The presentation of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities"

of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of

Ireland" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on the going concern basis and under the historical cost convention.

Significant judgements and estimates

The preparation of the financial statements in conformity with generally accepted accounting principles requires

the Directors to make estimates and assumptions that affect the reported amounts of assets and liabilities and

disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of

revenues and expenses during the reporting period. Actual results in the future could differ from those estimates.

Management considers that certain accounting assumptions relating to revenue, taxation and provisions are its

critical accounting policies.

Turnover

Turnover represents the value of services provided under contracts to the extent that there is a right to

consideration and is recorded at the value of the consideration due. Where a contract has only been partly

completed at the balance sheet date turnover represents the value of the services provided to date based on a

proportion of the total expected consideration at completion. Where payments are received in advance of

services provided, the amounts are recorded as deferred income and included as part of creditors due within one

year.

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 that have been enacted or

substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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.

4.	FIXED ASSET INVESTMENTS

Listed

investments

£

COST OR VALUATION

At 1 April 2016

and 31 March 2017

4,664

NET BOOK VALUE

At 31 March 2017

4,664

At 31 March 2016

4,664

Cost or valuation at 31 March 2017 is represented by:

Listed

investments

£

Valuation in 2012

(11,347

)

Cost

16,011

4,664

Market value of listed investments at 31 March 2017 - £ 6,222 .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Trade debtors

170,176

180,348

Other debtors

98

98

Prepayments

7,154

9,841

177,428

190,287

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Trade creditors

32,248

12,189

VAT

28,922

19,621

Amounts owing to associated

undertakings

109,562

143,026

Accruals

12,610

25,013

183,342

199,849

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.17

31.3.16

value:

£

£

100

Ordinary

£1

100

100

8.	RELATED PARTY DISCLOSURES

During the year the company was charged at cost, purchases and expenses that were paid for by its associated

company MBR Publications Limited together with a management charge which amounted to £490,208 for

salaries and certain overhead expenses. As at the balance sheet date the company owed MBR Publications

Limited £109,562 (2016 - £143,026).

9.	FIRST YEAR ADOPTION

The financial statements for the year ended 31 March 2017 are the first financial statements that comply with

FRS 102 Section 1A "Small Entities". The date of transition is 1 April 2015.

There are no adjustments required as a result of the transition to FRS 102 Section 1A.