Morley Skips Ltd,Ltd - AccountsLtd - Accounts

Morley Skips Ltd,Ltd - AccountsLtd - Accounts

MORLEY SKIPS LTD - Company Information

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2017-01-01 05998399 2017-12-31 05998399 2017-01-01 2017-12-31 05998399 2016-12-31 05998399 2016-01-01 2016-12-31 05998399 uk-core:WithinOneYear 2016-12-31 05998399 uk-core:WithinOneYear 2017-12-31 05998399 uk-core:AfterOneYear 2016-12-31 05998399 uk-core:AfterOneYear 2017-12-31 05998399 uk-core:ShareCapital 2017-12-31 05998399 uk-core:ShareCapital 2016-12-31 05998399 uk-core:RetainedEarningsAccumulatedLosses 2017-12-31 05998399 uk-core:RetainedEarningsAccumulatedLosses 2016-12-31 05998399 uk-bus:Director1 2017-01-01 2017-12-31 05998399 uk-core:NetGoodwill 2017-01-01 2017-12-31 05998399 uk-core:PlantMachinery 2017-01-01 2017-12-31 05998399 uk-core:OfficeEquipment 2017-01-01 2017-12-31 05998399 uk-core:VehiclesPlantMachinery 2017-01-01 2017-12-31 05998399 uk-core:Goodwill 2016-12-31 05998399 uk-core:Goodwill 2017-12-31 05998399 uk-core:Goodwill 2017-01-01 2017-12-31 05998399 uk-core:OfficeEquipment 2016-12-31 05998399 uk-core:VehiclesPlantMachinery 2016-12-31 05998399 uk-core:PlantMachinery 2016-12-31 05998399 uk-core:PlantMachinery 2017-12-31 05998399 uk-core:VehiclesPlantMachinery 2017-12-31 05998399 uk-core:OfficeEquipment 2017-12-31 iso4217:GBP 05998399 uk-bus:AuditExemptWithAccountantsReport 2017-01-01 2017-12-31 05998399 uk-bus:FRS102 2017-01-01 2017-12-31 05998399 uk-bus:FullAccounts 2017-01-01 2017-12-31 05998399 uk-bus:PrivateLimitedCompanyLtd 2017-01-01 2017-12-31
Morley Skips Ltd
Registered Number:05998399
For the year ended 31 December 2017
England and Wales
Unaudited Financial Statements
2
For the year ended 31 December 2017
Morley Skips Ltd
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
3
As at 31 December 2017
Morley Skips Ltd
Statement of Financial Position
Registered Number :
05998399
£
£
2016
2017
Notes
Fixed assets
Intangible assets
-
3,000
2
Property, plant and equipment
271,680
251,246
3
271,680
254,246
Current assets
Trade and other receivables
74,914
74,507
4
35,419
Cash and cash equivalents
13,664
88,171
110,333
Trade and other payables: amounts falling due within one year
(130,178)
(163,117)
5
(19,845)
(74,946)
Net current liabilities
Total assets less current liabilities
196,734
234,401
Trade and other payables: amounts falling due after more than one
year
(98,393)
(84,119)
6
(51,620)
(49,796)
Provisions for liabilities
60,995
Net assets
86,212
Capital and reserves
Called up share capital
60
1
Retained earnings
60,935
86,211
60,995
86,212
Shareholders' funds
For the year ended 31 December 2017 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section 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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Mr C P Morley Director
These financial statements were approved and authorised for issue by the Board on 10 September 2018 and were signed by:
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4
For the year ended 31 December 2017
Morley Skips Ltd
Statement of Financial Position Continued
The notes form part of these financial statements
2 of 5
5
For the year ended 31 December 2017
Morley Skips Ltd
Notes to the Financial Statements
Statutory Information
Morley Skips Ltd is a private limited company, limited by shares, domiciled in England and Wales, registration number
05998399.
Registered address:
Woodcote
Park Farm
Tolleshunt Knights
Maldon Essex
CM9 8HB
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A 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 costs convention as modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of 10 years.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery
20% Reducing balance
20% Reducing balance
Office equipment
20% Reducing balance
Motor vehicles
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.
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term. The finance element of the rental payment is charged to the profit and loss account on a straight line basis.
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme for the benefit of its directors/and employees. Contributions payable are charged to the profit and loss account in the period in which they are payable.
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6
For the year ended 31 December 2017
Morley Skips Ltd
Notes to the Financial Statements Continued
2. Intangible fixed assets
Goodwill
Cost or valuation
£
At 01 January 2017
30,000
At 31 December 2017
30,000
Amortisation
At 01 January 2017
27,000
3,000
Charge for year
At 31 December 2017
30,000
Net book value
At 31 December 2017
-
At 31 December 2016
3,000
3. Property, plant and equipment
Total
Office
equipment
Motor vehicles
Plant and
machinery
£
£
£
£
Cost or valuation
At 01 January 2017
489,171
3,350
31,979
453,842
96,988
-
-
96,988
Additions
-
-
(21,000)
Disposals
(21,000)
At 31 December 2017
529,830
31,979
3,350
565,159
Provision for depreciation and impairment
At 01 January 2017
237,925
1,930
23,594
212,401
Charge for year
67,954
300
1,700
65,954
(12,400)
-
-
(12,400)
On disposal
At 31 December 2017
293,479
2,230
25,294
265,955
At 31 December 2017
Net book value
263,875
6,685
1,120
271,680
At 31 December 2016
241,441
8,385
1,420
251,246
4. Trade and other receivables
2016
2017
£
£
Trade debtors
66,372
58,048
Other debtors
8,135
16,866
74,914
74,507
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7
For the year ended 31 December 2017
Morley Skips Ltd
Notes to the Financial Statements Continued
5. Trade and other payables: amounts falling due within one year
2016
2017
£
£
Trade creditors
53,833
51,026
Taxation and social security
25,166
15,909
Other creditors
84,118
63,243
163,117
130,178
6. Trade and other payables: amounts falling due after more than one year
2016
2017
£
£
Other creditors
84,119
98,393
7. Average number of persons employed
During the year the average number of employees was 9 (2016 : 9)
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