Maxwell Turner Engineering Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 01178793 (England and Wales)

MAXWELL TURNER ENGINEERING LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2017

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

Ms S J Turner

REGISTERED OFFICE:

1 Springburn Close

Stepaside

Pembroke

Pembrokeshire

SA67 8JZ

REGISTERED NUMBER:

01178793 (England and Wales)

ACCOUNTANTS:

Bevan & Buckland

Chartered Accountants

45 High Street

Haverfordwest

Pembrokeshire

SA61 2BP

FIXED ASSETS

Tangible assets

3

450,810

450,863

CURRENT ASSETS

Debtors

4

1,712

12,671

Cash at bank and in hand

2,541

11,042

4,253

23,713

CREDITORS

Amounts falling due within one year

5

356,611

352,711

NET CURRENT LIABILITIES

(352,358

)

(328,998

)

TOTAL ASSETS LESS CURRENT LIABILITIES

98,452

121,865

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

97,452

120,865

SHAREHOLDERS' FUNDS

98,452

121,865

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 director on 27 February 2018 and were signed by:

Ms S J Turner - Director

1.	STATUTORY INFORMATION

Maxwell Turner Engineering 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 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. 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Motor vehicles

-

25% reducing balance

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 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.

3.	TANGIBLE FIXED ASSETS

Land and

Motor

buildings

vehicles

Totals

£

£

£

COST

At 1 June 2016

and 31 May 2017

469,212

3,000

472,212

DEPRECIATION

At 1 June 2016

18,490

2,859

21,349

Charge for year

-

53

53

At 31 May 2017

18,490

2,912

21,402

NET BOOK VALUE

At 31 May 2017

450,722

88

450,810

At 31 May 2016

450,722

141

450,863

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

-

12,671

Other debtors

1,712

-

1,712

12,671

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

-

3,920

Other creditors

356,611

348,791

356,611

352,711

6.	RELATED PARTY DISCLOSURES

During the year the directors made funds available to the company to assist with the provision of

working capital. The loan was interest free, unsecured, and repayable on demand. The amount

outstanding at the balance sheet date was £332,415 (2016 £346,222) payable to the Estate of Mr R

Turner and £20,296 (2016 £nil) due to Ms S Turner.