McCormick Architecture Limited - Accounts to registrar (filleted) - small 18.2

McCormick Architecture Limited - Accounts to registrar (filleted) - small 18.2


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REGISTERED NUMBER: 05317902 (England and Wales)











McCormick Architecture Limited

Unaudited Financial Statements

for the Year Ended 31 March 2018






McCormick Architecture Limited (Registered number: 05317902)






Contents of the Financial Statements
for the Year Ended 31 March 2018




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


McCormick Architecture Limited

Company Information
for the Year Ended 31 March 2018







DIRECTORS: P McCormick
S M McCormick





SECRETARY: P McCormick





REGISTERED OFFICE: The Moorings
Rowton Bridge Road
Christleton
Chester
Cheshire
CH3 7AE





REGISTERED NUMBER: 05317902 (England and Wales)





ACCOUNTANTS: Henry R. Davis & Co. Limited
Chartered Accountants
33 Chester Road West
Queensferry
Deeside
Flintshire
CH5 1SA

McCormick Architecture Limited (Registered number: 05317902)

Balance Sheet
31 March 2018

31.3.18 31.3.17
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 437,500 500,000
Tangible assets 5 10,147 16,581
447,647 516,581

CURRENT ASSETS
Stocks 1,050 4,347
Debtors 6 147,215 190,314
Cash at bank and in hand 58,949 83,500
207,214 278,161
CREDITORS
Amounts falling due within one year 7 488,356 444,165
NET CURRENT LIABILITIES (281,142 ) (166,004 )
TOTAL ASSETS LESS CURRENT LIABILITIES 166,505 350,577

PROVISIONS FOR LIABILITIES 1,748 2,785
NET ASSETS 164,757 347,792

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 164,657 347,692
SHAREHOLDERS' FUNDS 164,757 347,792

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 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.

McCormick Architecture Limited (Registered number: 05317902)

Balance Sheet - continued
31 March 2018


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 10 October 2018 and were signed on its behalf
by:





P McCormick - Director


McCormick Architecture Limited (Registered number: 05317902)

Notes to the Financial Statements
for the Year Ended 31 March 2018

1. STATUTORY INFORMATION

McCormick Architecture 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, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of twenty years.

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.
Plant and machinery etc - 25% on cost and 15% on cost

Stocks
Stocks 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 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.

McCormick Architecture Limited (Registered number: 05317902)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2018

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the
lease.

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 NIL (2017 - 6 ).

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2017
and 31 March 2018 1,250,000
AMORTISATION
At 1 April 2017 750,000
Charge for year 62,500
At 31 March 2018 812,500
NET BOOK VALUE
At 31 March 2018 437,500
At 31 March 2017 500,000

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2017
and 31 March 2018 770 122,025 122,795
DEPRECIATION
At 1 April 2017 - 106,214 106,214
Charge for year - 6,434 6,434
At 31 March 2018 - 112,648 112,648
NET BOOK VALUE
At 31 March 2018 770 9,377 10,147
At 31 March 2017 770 15,811 16,581

McCormick Architecture Limited (Registered number: 05317902)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2018

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.18 31.3.17
£    £   
Trade debtors 47,741 74,738
Other debtors 99,474 115,576
147,215 190,314

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.18 31.3.17
£    £   
Trade creditors 12,899 16,005
Taxation and social security 25,103 31,140
Other creditors 450,354 397,020
488,356 444,165

8. RELATED PARTY DISCLOSURES

Ethos Capital (Malta) Limited
A company in which both directors control.

During the year, the company paid, on behalf of Ethos Capital (Malta) Limited, expenses totalling £6,899 (2017
- £4,624). The balance outstanding to the company, as at 31st March 2018, totals £11,537 (2017 - £10,638)
and included in other debtors.