M D McFerran & Co Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04393514 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 August 2018

for

M D McFerran & Co Limited

Trading as

M D McFerran & Co, Accountants

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R J Meadows

J Meadows

REGISTERED OFFICE:

3 Millford Close

Hall Green

Birmingham

West Midlands

B28 0YL

REGISTERED NUMBER:

04393514 (England and Wales)

ACCOUNTANTS:

M.D.McFerran & Co, Accountants

3 Millford Close

Hall Green

Birmingham

West Midlands

B28 0YL

FIXED ASSETS

Intangible assets

4

37,720

41,492

Tangible assets

5

23,920

29,203

61,640

70,695

CURRENT ASSETS

Debtors

6

13,325

14,104

Cash at bank

31,752

28,002

45,077

42,106

CREDITORS

Amounts falling due within one year

7

41,091

42,397

NET CURRENT ASSETS/(LIABILITIES)

3,986

(291

)

TOTAL ASSETS LESS CURRENT LIABILITIES

65,626

70,404

CREDITORS

Amounts falling due after more than one year

8

-

(3,547

)

PROVISIONS FOR LIABILITIES

9

(971

)

(1,190

)

NET ASSETS

64,655

65,667

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

64,645

65,657

SHAREHOLDERS' FUNDS

64,655

65,667

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 2 October 2018 and were signed on its behalf by:

R J Meadows - Director

1.	STATUTORY INFORMATION

M D McFerran & Co Limited 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

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill is being written off equally over the next fourteen years .This is considered to be appropriate to reflect

the current carrying value.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

20% on reducing balance

Computer equipment

-

20% on reducing balance

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2017 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 September 2017

and 31 August 2018

56,000

AMORTISATION

At 1 September 2017

14,508

Charge for year

3,772

At 31 August 2018

18,280

NET BOOK VALUE

At 31 August 2018

37,720

At 31 August 2017

41,492

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 September 2017

and 31 August 2018

2,021

41,331

2,566

45,918

DEPRECIATION

At 1 September 2017

1,682

14,520

513

16,715

Charge for year

68

4,804

411

5,283

At 31 August 2018

1,750

19,324

924

21,998

NET BOOK VALUE

At 31 August 2018

271

22,007

1,642

23,920

At 31 August 2017

339

26,811

2,053

29,203

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 September 2017

and 31 August 2018

41,331

DEPRECIATION

At 1 September 2017

14,520

Charge for year

4,804

At 31 August 2018

19,324

NET BOOK VALUE

At 31 August 2018

22,007

At 31 August 2017

26,811

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.18

31.8.17

£

£

Trade debtors

13,325

14,104

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.18

31.8.17

£

£

Hire purchase contracts

-

6,860

Trade creditors

(1

)

-

Taxation and social security

19,165

21,660

Other creditors

21,927

13,877

41,091

42,397

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.8.18

31.8.17

£

£

Hire purchase contracts

-

3,547

9.	PROVISIONS FOR LIABILITIES

31.8.18

31.8.17

£

£

Deferred tax

971

1,190

Deferred

tax

£

Balance at 1 September 2017

1,190

Provided during year

(219

)

Profit and loss account

Balance at 31 August 2018

971