Major Trading Co. Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04408015 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2018

for

Major Trading Co. Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

N E Nathan

REGISTERED OFFICE:

Unit 39 Stadium Business Centre

North End Road

Wembley

Middlesex

HA9 0AT

REGISTERED NUMBER:

04408015 (England and Wales)

ACCOUNTANTS:

Link Chartered Accountants

28 Church Road

London

HA7 4XR

FIXED ASSETS

Property, plant and equipment

4

8,830

6,300

Investments

5

16,029

-

24,859

6,300

CURRENT ASSETS

Inventories

119,049

77,827

Debtors

6

185,146

54,082

Cash at bank and in hand

673

49,985

304,868

181,894

CREDITORS

Amounts falling due within one year

7

(103,310

)

(41,586

)

NET CURRENT ASSETS

201,558

140,308

TOTAL ASSETS LESS CURRENT LIABILITIES

226,417

146,608

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

226,416

146,607

226,417

146,608

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 4 September 2018 and were signed by:

N E Nathan - Director

1.	STATUTORY INFORMATION

Major Trading Co. 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

Revenue 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.

Plant and machinery etc

-

25% on reducing balance and 15% on reducing balance

Stocks

Inventories are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2017 - 1 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

machinery

etc

£

COST

At 1 April 2017

41,289

Additions

4,715

At 31 March 2018

46,004

DEPRECIATION

At 1 April 2017

34,989

Charge for year

2,185

At 31 March 2018

37,174

NET BOOK VALUE

At 31 March 2018

8,830

At 31 March 2017

6,300

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

Additions

16,029

At 31 March 2018

16,029

NET BOOK VALUE

At 31 March 2018

16,029

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

104,995

53,321

Other debtors

80,151

761

185,146

54,082

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

640

1,917

Taxation and social security

42,000

33,814

Other creditors

60,670

5,855

103,310

41,586