Maxfield Jarvis Limited
Maxfield Jarvis Limited
Registered number: 3895369
Unaudited Financial Statements
For The Year Ended 31 December 2017
Smith Hannah Limited
Chartered Certified Accountants
50 Woodgate
Leicester
Leicestershire
LE3 5GF
Maxfield Jarvis Limited
Unaudited Financial Statements
For The Year Ended 31 December 2017
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—6 |
Maxfield Jarvis Limited
Balance Sheet
As at
31 December 2017
Balance Sheet
Registered number:
3895369
For the year ending 31 December 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 2017 | 2016 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 3 |
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| Investments | 4 |
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| CURRENT ASSETS | |||||
| Stocks |
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| Debtors | 5 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 6 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 7 |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 496,052 | 570,857 | |||
Page 1
Maxfield Jarvis Limited
Balance Sheet (continued)
As at
31 December 2017
Directors' responsibilities:
-
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. -
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
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The notes on pages 3 to 6 form part of these financial statements.
Page 2
Maxfield Jarvis Limited
Notes to the Financial Statements
For The Year Ended 31 December 2017
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Plant & Machinery |
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| Motor Vehicles |
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1.4.
Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
Page 3
Maxfield Jarvis Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2017
1.5.
Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, 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. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows:
| 2017 | 2016 | ||
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| Office and administration |
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3.
Tangible Assets
| Plant & Machinery | Motor Vehicles | Total | |
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| £ | £ | £ | |
| Cost | |||
| As at |
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| Disposals |
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| As at |
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| Depreciation | |||
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| Provided during the period |
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| Disposals |
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| As at |
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| Net Book Value | |||
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Page 4
Maxfield Jarvis Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2017
4.
Investments
| Unlisted | |
|---|---|
| £ | |
| Cost | |
| As at |
86,000 |
| Additions | 24,000 |
| As at |
110,000 |
| Provision | |
| As at |
- |
| As at |
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| Net Book Value | |
| As at |
110,000 |
| As at |
86,000 |
5.
Debtors
| 2017 | 2016 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| Other debtors |
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| Corporation tax recoverable assets |
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6.
Creditors: Amounts Falling Due Within One Year
| 2017 | 2016 | ||
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| £ | £ | ||
| Trade creditors |
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| Corporation tax |
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| Other taxes and social security |
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| Other creditors |
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Page 5
Maxfield Jarvis Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2017
7.
Creditors: Amounts Falling Due After More Than One Year
| 2017 | 2016 | ||
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| £ | £ | ||
| Other creditors |
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8.
Ultimate Parent Undertaking and Controlling Party
The company's ultimate parent undertaking is MJL Partnership Limited, a company registered in England & Wales.
9.
General Information
Maxfield Jarvis Limited is a private company, limited by shares, incorporated in England & Wales, registered number 3895369 . The registered office is 50 Woodgate, Leicester, LE3 5GF.
Page 6