Mixity Services Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05993828 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

FOR

MIXITY SERVICES LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

7

DIRECTORS:

Mrs R Baillargeon

P B Baillargeon

SECRETARY:

P B Baillargeon

REGISTERED OFFICE:

88 Crawford Street

London

W1H 2EJ

REGISTERED NUMBER:

05993828 (England and Wales)

ACCOUNTANTS:

Cameron Baum Limited

88 Crawford Street

London

W1H 2EJ

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

3,554

7,085

3,554

7,085

CURRENT ASSETS

Debtors

724,470

1,049,610

Cash at bank

46

103

724,516

1,049,713

CREDITORS

Amounts falling due within one year

528,794

744,415

NET CURRENT ASSETS

195,722

305,298

TOTAL ASSETS LESS CURRENT LIABILITIES

199,276

312,383

CREDITORS

Amounts falling due after more than one year

16,863

107,950

NET ASSETS

182,413

204,433

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

182,412

204,432

SHAREHOLDERS' FUNDS

182,413

204,433

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.

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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2018 in accordance with Section 444(2A) of the Companies Act 2006.

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 14 December 2018 and were signed on its behalf by:

P B Baillargeon - Director

1.	STATUTORY INFORMATION

Mixity Services 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.

The financial statements are prepared in UK Pound Sterling, which is the functional currency of the company.

Intangible assets

Acquired intangible assets are capitalised at cost and are amortised using the straight-line basis over their useful

lives. Where a reliable estimate cannot be determined a default rate of 10 years is applied.

Intangible assets acquired as part of a business acquisition are capitalised separately from goodwill if the fair

value can be measured reliably. Internally generated intangible assets are only recognised where they have a

readily ascertainable market value.

Intangible assets are reviewed for impairment if events or changes in circumstances indicate that the carrying

value may not be recoverable.

Property, plant and equipment

Property, plant and equipment are stated at historical cost less accumulated depreciation and accumulated

impairment losses.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful

life:

Short leasehold

20% on cost

Plant and machinery

25% on reducing balance

Fixtures, fittings and office equipment

15% on cost

Computer equipment

25% on cost

The company’s policy is to review the remaining useful economic lives and residual values of property, plant and

equipment on an on-going basis and to adjust the depreciation charge to reflect the remaining estimated useful

economic life and residual value.

Fully depreciated property, plant & equipment are retained in the cost of property, plant & equipment and related

accumulated depreciation until they are removed from service. In the case of disposals, assets and related

depreciation are removed from the financial statements and the net amount, less proceeds from disposal, is

charged or credited to the profit and loss account.

Assets not carried at fair value are also reviewed for impairment whenever events or changes in circumstances

indicate that the carrying amount may not be recoverable. An impairment loss is recognised for the amount by

which the asset’s carrying amount exceeds its recoverable amount.

The recoverable amount is the higher of an asset’s fair value less costs to sell and value in use. Value in use is

defined as the present value of the future pre-tax and interest cash flows obtainable as a result of the asset’s

continued use. The pre-tax and interest cash flows are discounted using a pre-tax discount rate that represents

the current market risk free rate and the risks inherent in the asset. For the purposes of assessing impairment,

assets are grouped at the lowest levels for which there are separately identifiable cash flows (cash-generating

units).

If the recoverable amount of the asset (or asset’s cash generating unit) is estimated to be lower than the carrying

amount, the carrying amount is reduced to its recoverable amount. An impairment loss is recognised in the profit

and loss account, unless the asset has been revalued when the amount is recognised in other comprehensive

income to the extent of any previously recognised revaluation. Thereafter any excess is recognised in profit or

loss.

If an impairment loss is subsequently reverses, the carrying amount of the asset (or asset’s cash generating

unit) is increased to the revised estimate of its recoverable amount, but only to the extent that the revised

carrying amount does not exceed the carrying amount that would have been determined (net of depreciation)

had no impairment loss been recognised in prior periods. A reversal of an impairment loss is recognised in the

profit and loss account.

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

Leases in which substantially all the risks and rewards of ownership are transferred by the lessor are classified

as finance leases.

Tangible fixed assets acquired under finance leases are capitalised at the lease’s commencement at the lower

of the fair value of the leased property and the present value of the minimum lease payments and are

depreciated over the shorter of the lease term and their useful lives. The capital element of the lease obligation

is recorded as a liability and the interest element of the finance lease rentals is charged to the profit and loss

account on an annuity basis.

Each lease payment is apportioned between the liability and finance charges using the effective interest method.

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as

operating leases. Payments made under operating leases (net of any incentives received from the lessor) are

charged to profit or loss on a straight-line basis over the period of the lease.

Incentives received to enter into a finance lease reduce the fair value of the asset and are included in the

calculation of present value of future minimum lease payments.

Incentives received to enter into an operating lease are credited to the profit and loss account, to reduce the

lease expense, 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 and loss in the period to which they relate.

The company provides a range of benefits to employees, including annual bonus arrangements, paid holiday

arrangements and defined contribution pension plans.

Short term benefits:

Short term benefits, including holiday pay and other similar non-monetary benefits, are recognised as an

expense in the period in which the service is received.

Annual bonus plans:

The company recognises a provision and an expense for bonuses where the company has a legal or

constructive obligation as a result of past events and a reliable estimate can be made.

Defined contribution pension plans:

The company operates a defined contribution plan. A defined contribution plan is a pension plan under which the

company pays contributions into a separate fund. Under defined contribution plans, the company has no legal or

constructive obligations to pay further contributions if the fund does not hold sufficient assets to pay all

employees the benefits relating to employee service in the current and prior periods.

For defined contribution plans, the company pays contributions to privately administered pension plans on a

contractual or voluntary basis. The company has no further payment obligations once the contributions have

been paid. The contributions are recognised as employee benefit expense when they are due. Prepaid

contributions are recognised as an asset to the extent that a cash refund or a reduction in the future payments is

available.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2017 - 22 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2017

and 31 March 2018

15,603

AMORTISATION

At 1 April 2017

and 31 March 2018

15,603

NET BOOK VALUE

At 31 March 2018

-

At 31 March 2017

-

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2017

145,930

Additions

550

At 31 March 2018

146,480

DEPRECIATION

At 1 April 2017

138,845

Charge for year

4,081

At 31 March 2018

142,926

NET BOOK VALUE

At 31 March 2018

3,554

At 31 March 2017

7,085

6.	RELATED PARTY DISCLOSURES

Other creditors includes £2,900 (2017: £nil) that is owed to the directors of the company.

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Abridged Income Statement and certain other primary

statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Mixity Services Limited for the year ended 31 March 2018 which comprise the Abridged Income

Statement, Abridged Balance Sheet and the related notes from the company's accounting records and from information

and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Mixity Services Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Mixity Services Limited and state those matters that we have agreed to state to the Board of Directors of Mixity Services Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Mixity Services Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Mixity Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Mixity Services Limited. You consider that Mixity Services Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Mixity Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Cameron Baum Limited

88 Crawford Street

London

W1H 2EJ

14 December 2018