M J Dudley Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 03781358 (England and Wales)

M J DUDLEY LIMITED

Unaudited Financial Statements for the Year Ended 30 June 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTOR:

M J Dudley

REGISTERED OFFICE:

3 Aston Dale,

Shifnal

Shropshire

TF11 8EY

REGISTERED NUMBER:

03781358 (England and Wales)

ACCOUNTANTS:

Lancaster Haskins Limited

Granville House

2 Tettenhall Road

Wolverhampton

West Midlands

WV1 4SB

FIXED ASSETS

Tangible assets

4

-

2,440

Investment property

5

308,183

-

308,183

2,440

CURRENT ASSETS

Debtors

6

4,815

41,452

Cash at bank

981

2,329

5,796

43,781

CREDITORS

Amounts falling due within one year

7

123,500

56,993

NET CURRENT LIABILITIES

(117,704

)

(13,212

)

TOTAL ASSETS LESS CURRENT LIABILITIES

190,479

(10,772

)

CREDITORS

Amounts falling due after more than one year

8

225,216

-

NET LIABILITIES

(34,737

)

(10,772

)

CAPITAL AND RESERVES

Called up share capital

6

6

Capital reserve

7,116

7,116

Retained earnings

(41,859

)

(17,894

)

SHAREHOLDERS' FUNDS

(34,737

)

(10,772

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2017 in accordance with Section 476 of the Companies Act 2006.

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.

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 25 March 2018 and were signed by:

M J Dudley - Director

1.	STATUTORY INFORMATION

M J Dudley 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.

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

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.

There were no material departures from that standard.

These Financial Statements for the year ended 30 June 2017 are the first Financial Statements that comply with

FRS 102 Section 1A small entities. The date of transition is 1 July 2015.

The transition to FRS 102 Section 1A small entities has resulted in no changes in accounting policies to those

used previously.

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.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

fair value is recognised in profit or loss.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible

preference shares or non-puttable ordinary shares which are measured at fair value, with changes recognised in

profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with

changes recognised in profit or loss.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2016 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Motor

vehicles

£

COST

At 1 July 2016

14,834

Disposals

(14,834

)

At 30 June 2017

-

DEPRECIATION

At 1 July 2016

12,394

Eliminated on disposal

(12,394

)

At 30 June 2017

-

NET BOOK VALUE

At 30 June 2017

-

At 30 June 2016

2,440

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

308,183

At 30 June 2017

308,183

NET BOOK VALUE

At 30 June 2017

308,183

The investment property is secured under loans due after five years.

At the year end, the director believes that the investment properties are carried at fair value, being the open

market value on acquisition during the year.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.17

30.6.16

£

£

Other debtors

4,815

41,452

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.17

30.6.16

£

£

Other creditors

123,500

56,993

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.17

30.6.16

£

£

Other creditors

225,216

-

Amounts falling due in more than five years:

Repayable by instalments

Other loans more 5yrs instal

225,216

-

9.	RELATED PARTY DISCLOSURES

During the year, the director made net advances to the company of £73,125, paid net expenses on behalf of the

company of £8,200 and was repaid £9,399. At the year end the director was owed £82,008 (2016 - £10,082).

10.	ULTIMATE CONTROLLING PARTY

The company is under the control of the director.

11.	FIRST YEAR ADOPTION

The company has adopted FRS 102 Section 1A for the year ended 30 June 2017. There have been no transitional

adjustments and so therefore the comparative prior year Financial Statements have not been restated.

The following reproduces the text of the report prepared for the director 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 M J Dudley Limited for the year ended 30 June 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 M J Dudley Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of M J Dudley Limited and state those matters that we have agreed to state to the director of M J Dudley 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 M J Dudley Limited director for our work or for this report.

It is your duty to ensure that M J Dudley 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 M J Dudley Limited. You consider that M J Dudley 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 M J Dudley 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.

Lancaster Haskins Limited

Granville House

2 Tettenhall Road

Wolverhampton

West Midlands

WV1 4SB

Date: .............................................