MJD Data Limited - Period Ending 2017-09-30

Registration number: 07782649

MJD Data Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2017

MJD Data Limited

Contents

Balance Sheet	1
Notes to the Financial Statements	2 to 5

MJD Data Limited

(Registration number: 07782649)
Balance Sheet as at 30 September 2017

	Note	2017 £	2016 £
Fixed assets
Tangible assets	4	491	655
Current assets
Debtors	5	8,319	2,122
Cash at bank and in hand		1,270	8,787
		9,589	10,909
Creditors: Amounts falling due within one year	6	(8,772)	(10,679)
Net current assets		817	230
Net assets		1,308	885
Capital and reserves
Called up share capital		125	125
Profit and loss account		1,183	760
Total equity		1,308	885

For the financial year ending 30 September 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 8 May 2018 and signed on its behalf by:
 

.........................................

M J Drew

Director

The notes on pages 2 to 5 form an integral part of these financial statements.

Page 1

MJD Data Limited

Notes to the Financial Statements for the Year Ended 30 September 2017

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
England

The principal place of business is:
212 Stratton Heights
Cirencester
Glos
GL7 2RW
England

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activies. Turnover is shown net of value added tax.

Tax

The tax expense for the period comprises current tax payable.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less ant estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Office Equipment	25% reducing balance basis

Page 2

MJD Data Limited

Notes to the Financial Statements for the Year Ended 30 September 2017

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2016 - 2).

Page 3

MJD Data Limited

Notes to the Financial Statements for the Year Ended 30 September 2017

4	Tangible assets

	Office equipment £	Total £
Cost or valuation
At 1 October 2016	1,253	1,253
At 30 September 2017	1,253	1,253
Depreciation
At 1 October 2016	598	598
Charge for the year	164	164
At 30 September 2017	762	762
Carrying amount
At 30 September 2017	491	491
At 30 September 2016	655	655

5

Debtors

	2017 £	2016 £
Trade debtors	5,740	-
Prepayments	72	-
Other debtors	2,507	2,122
	8,319	2,122

6

Creditors

Creditors: amounts falling due within one year

	2017 £	2016 £
Due within one year
Trade creditors	73	-
Taxation and social security	8,699	10,679
	8,772	10,679

Page 4

MJD Data Limited

Notes to the Financial Statements for the Year Ended 30 September 2017

7	Related party transactions

Other transactions with directors

M J Drew had a loan with the company. At the balance sheet date the amount due from M J Drew was £2,382 (2016: £1,997).

During the period dividends totalling £26,100 (2016: £26,325) were paid to the directors M J Drew and K A Drew.

8	Transition to FRS 102

There were no changes required as a result of transition to FRS 102.

Page 5