MKP Consultants Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03744400 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 June 2018

for

MKP Consultants Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P Kerwood

Mrs K H Kerwood

SECRETARY:

Mrs K H Kerwood

REGISTERED OFFICE:

Units 1 & 2

Warren Farm Barn

Andover Road, Micheldever Station

Winchester

Hampshire

SO21 3FL

REGISTERED NUMBER:

03744400 (England and Wales)

ACCOUNTANTS:

Lane Monnington Welton

Chartered Accountants

Riverside View

Basing Road

Old Basing

Basingstoke

Hampshire

RG24 7AL

FIXED ASSETS

Tangible assets

4

48,312

55,321

Investment property

5

1,730,995

1,730,995

1,779,307

1,786,316

CURRENT ASSETS

Debtors

6

659,012

409,280

Cash at bank

292,426

265,988

951,438

675,268

CREDITORS

Amounts falling due within one year

7

397,794

294,992

NET CURRENT ASSETS

553,644

380,276

TOTAL ASSETS LESS CURRENT LIABILITIES

2,332,951

2,166,592

CREDITORS

Amounts falling due after more than one year

8

(158,973

)

(194,168

)

PROVISIONS FOR LIABILITIES

11

(54,686

)

(54,686

)

NET ASSETS

2,119,292

1,917,738

CAPITAL AND RESERVES

Called up share capital

12

300

300

Capital redemption reserve

300

300

Retained earnings

2,118,692

1,917,138

SHAREHOLDERS' FUNDS

2,119,292

1,917,738

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 9 November 2018 and were signed on its behalf by:

P Kerwood - Director

1.	STATUTORY INFORMATION

MKP Consultants 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 represents the value of services provided under contracts to the extent that there is a right to

consideration and is recorded at the value of the consideration due. Where a contract has only been

partially completed at the balance sheet date turnover represents the value of the service provided to

date based on a proportion of the total expected consideration at completion. Where payments are

received from customers in advance of services provided, the amounts are recorded as deferred

income and included as part of creditors due within one year.

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

-

33% on cost

Fixtures and fittings

-

25% on cost

Office equipment

-

25% on cost and 25% on reducing balance

Investment property

Investments properties are initially recognised at cost and then held at fair value through the income

statement.

Financial instruments

Debtors and creditors payable/receivable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are

recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss

account in other administrative expenses.

Loans and borrowings

Loans and borrowings are initially recognised at the transaction price, including transaction costs.

Subsequently they are measured at amortised cost using the effective interest rate method, less

impairment. If an arrangement constitutes a finance transaction it is measured at present value.

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, adjusted for indexation where applicable.

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

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.

Impairment

Assets not measured at fair value are reviewed for any indication that an asset may be impaired at

each balance sheet date. The directors review the carrying amount of the relevant assets and compare

them to their market values and recoverable amounts. Where the carrying amount exceeds this, an

impairment loss is recognised in profit or loss, unless the asset is carried at a revalued amount, where

the impairment loss is a revaluation decrease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2017 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Office

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 July 2017

8,665

50,806

28,750

107,522

195,743

Additions

424

3,628

-

8,256

12,308

At 30 June 2018

9,089

54,434

28,750

115,778

208,051

DEPRECIATION

At 1 July 2017

6,251

46,292

7,188

80,691

140,422

Charge for year

1,317

3,831

5,391

8,778

19,317

At 30 June 2018

7,568

50,123

12,579

89,469

159,739

NET BOOK VALUE

At 30 June 2018

1,521

4,311

16,171

26,309

48,312

At 30 June 2017

2,414

4,514

21,562

26,831

55,321

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 July 2017

and 30 June 2018

1,730,995

NET BOOK VALUE

At 30 June 2018

1,730,995

At 30 June 2017

1,730,995

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.18

30.6.17

£

£

Trade debtors

335,301

91,141

Other debtors

323,711

318,139

659,012

409,280

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.18

30.6.17

£

£

Bank loans and overdrafts

35,700

34,472

Trade creditors

112,822

37,777

Taxation and social security

213,655

176,629

Other creditors

35,617

46,114

397,794

294,992

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.18

30.6.17

£

£

Bank loans

158,973

194,168

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

16,173

36,280

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

30.6.18

30.6.17

£

£

Within one year

68,500

68,500

Between one and five years

29,500

98,000

98,000

166,500

10.	SECURED DEBTS

The following secured debts are included within creditors:

30.6.18

30.6.17

£

£

Bank loans

194,673

228,640

Bank loans are secured by a fixed and floating charge over the assets of the company.

11.	PROVISIONS FOR LIABILITIES

30.6.18

30.6.17

£

£

Deferred tax

54,686

54,686

Deferred

tax

£

Balance at 1 July 2017

54,686

Accelerated capital allowances

Balance at 30 June 2018

54,686

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.18

30.6.17

value:

£

£

300

Ordinary

£1

300

300

13.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2018 and

30 June 2017:

30.6.18

30.6.17

£

£

P Kerwood

Balance outstanding at start of year

220,000

-

Amounts advanced

-

220,000

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

220,000

220,000

14.	RELATED PARTY DISCLOSURES

The director mentioned above was charged £6,600 (2017: £2,368) interest on his advance and at the

balance sheet date he owed the company £220,000 (2017: £220,000).