Mayton Limited - Accounts to registrar - small 17.2
Mayton Limited - Accounts to registrar - small 17.2
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 January 2017 |
for |
Mayton Limited |
Mayton Limited (Registered number: 08848444) |
Contents of the Financial Statements |
for the Year Ended 31 January 2017 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Chartered Accountants' Report | 5 |
Mayton Limited |
Company Information |
for the Year Ended 31 January 2017 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
9 Great Chesterford Court |
London Road |
Great Chesterford |
Essex |
CB10 1PF |
Mayton Limited (Registered number: 08848444) |
Balance Sheet |
31 January 2017 |
31.1.17 | 31.1.16 |
Notes | £ | £ |
CURRENT ASSETS |
Stocks |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
The director acknowledges his 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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director on |
Mayton Limited (Registered number: 08848444) |
Notes to the Financial Statements |
for the Year Ended 31 January 2017 |
1. | STATUTORY INFORMATION |
Mayton Limited is a |
registered number and registered office address can be found on the Company Information page. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
In carrying out their duties in respect of going concern the directors have carried out a review of the company's |
financial position and cash flow forecast for a period of 12 months from the date of signing these financial |
statements. These have been based on a comprehensive review of revenue, expenditure and cash flows taking |
into account specific business risks and uncertainties brought about by the current economic environment. The |
company is supported by its controlling parties and other companies under the same control who provide funds |
as needed to enable the company to meets its day-to-day working capital requirements. |
Having taken all the above factors into consideration the directors have reached a conclusion that the company |
is able to manage its business risks and have therefore continued to adopt the going concern basis of accounting |
in preparing these financial statements. |
Revenue recognition |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
Revenue from the rendering of services is only recognised when the outcome of a transaction can be estimated |
reliably and is then recognised according to the stage of completion of the transaction at the end of the reporting |
period. |
Stocks |
Work in progress is valued at the lower of cost and estimated selling price less costs to complete and sell. Cost |
includes all expenditure and overheads directly attributable to each project. |
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. |
Mayton Limited (Registered number: 08848444) |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2017 |
2. | ACCOUNTING POLICIES - continued |
Debtors and creditors receivable / payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at |
transaction price. Any losses arising from impairment are recognised in the profit and loss account in other |
administrative expenses. |
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. Cash equivalents are highly liquid investments that mature in no more than three |
months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant |
risk of change in value. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.17 | 31.1.16 |
£ | £ |
Other debtors |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.17 | 31.1.16 |
£ | £ |
VAT | 650 | - |
Other creditors |
6. | RELATED PARTY DISCLOSURES |
During the year the company had interest free loans from controlling parties and other businesses under their |
control. At the year end the total amount owed to these related parties by the company was £54,163 (2016: £nil). |
Chartered Accountants' Report to the Director |
on the Unaudited Financial Statements of |
Mayton Limited |
The following reproduces the text of the report prepared for the director and members in respect of the |
company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is |
only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other |
primary statements and the Report of the Director are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of Mayton Limited for the year ended 31 January 2017 which comprise the Income Statement, |
Balance Sheet and the related notes from the company's accounting records and from information and explanations you |
have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the director of Mayton Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Mayton Limited and state those matters that we have agreed to state to the director of Mayton Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Mayton Limited director for our work or for this report. |
It is your duty to ensure that Mayton Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Mayton Limited. You consider that Mayton Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of Mayton Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Chartered Accountants |
9 Great Chesterford Court |
London Road |
Great Chesterford |
Essex |
CB10 1PF |