Maida Vale Storage Limited Filleted accounts for Companies House (small and micro)

MAIDA VALE STORAGE LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 04058014

Maida Vale Storage Limited

Filleted Unaudited Financial Statements

30 August 2017

Maida Vale Storage Limited

Statement of Financial Position

30 August 2017

	30 Aug 17	31 Aug 16
Note	£	£

Fixed assets

Tangible assets	5	–	106,698

Current assets

Debtors	6	1,542	91,694
Cash at bank and in hand		32,733	59,814
		--------	---------
		34,275	151,508

Creditors: amounts falling due within one year	7	34,388	182,970
		--------	---------
Net current liabilities		113	31,462
		----	---------
Total assets less current liabilities		( 113)	75,236
		----	--------
Net (liabilities)/assets		( 113)	75,236
		----	--------

Capital and reserves

Called up share capital	100	100
Profit and loss account	( 213)	75,136
	----	--------
Shareholders (deficit)/funds	( 113)	75,236
	----	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

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

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;

- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Maida Vale Storage Limited

Statement of Financial Position (continued)

30 August 2017

These financial statements were approved by the board of directors and authorised for issue on 30 August 2018 , and are signed on behalf of the board by:

P Southern
Director

Company registration number: 04058014

Maida Vale Storage Limited

Notes to the Financial Statements

Period from 1 September 2016 to 30 August 2017

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 45 Maylands Avenue, Hemel Hempstead, Herts, HP2 7DF.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

1 Basis of preparation

The financial statements have been prepared on the historical cost basis.

2 Revenue recognition

Turnover represents the value, net of Value Added Tax, of goods sold and services provided to customers.

3 Taxation

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

4 Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation.

5 Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Improvements to premises	-	Over the term of the lease
Fixtures & fittings	-	20% straight line
Office equioment	-	20% straight line

6 Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

4. Employee numbers

The average number of persons employed by the company during the period amounted to 4 (2016: 4 ).

5. Tangible assets

	Land and buildings	Fixtures and fittings	Equipment	Total
	£	£	£	£
Cost
At 1 September 2016	272,335	14,382	7,732	294,449
Disposals	( 272,335)	( 14,382)	( 7,732)	( 294,449)
	---------	--------	-------	---------
At 30 August 2017	–	–	–	–
	---------	--------	-------	---------
Depreciation
At 1 September 2016	165,637	14,382	7,732	187,751
Charge for the period	30,735	–	–	30,735
Disposals	( 196,372)	( 14,382)	( 7,732)	( 218,486)
	---------	--------	-------	---------
At 30 August 2017	–	–	–	–
	---------	--------	-------	---------
Carrying amount
At 30 August 2017	–	–	–	–
	---------	--------	-------	---------
At 31 August 2016	106,698	–	–	106,698
	---------	--------	-------	---------

6. Debtors

	30 Aug 17	31 Aug 16
	£	£
Trade debtors	1,542	74,414
Other debtors	–	17,280
	-------	--------
	1,542	91,694
	-------	--------

7. Creditors: amounts falling due within one year

	30 Aug 17	31 Aug 16
	£	£
Trade creditors	–	7,023
Corporation tax	1,066	21,114
Social security and other taxes	–	18,938
Other creditors	33,322	135,895
	--------	---------
	34,388	182,970
	--------	---------

8. Related party transactions

A shareholder in the company, Mr G Swallow, has an interest in Fulton Holdings Limited. For part of the year the company rented it's premises from Fulton Holdings Limited at an open market value of £103,333 (2016: £172,000).