Mapsong Limited - Period Ending 2018-03-31

Registration number: 09077991

Mapsong Limited

Annual Report and Unaudited Financial Statements (Filleted)

for the Year Ended 31 March 2018

Mapsong Limited

Contents

Balance Sheet	1 to 2
Notes to the Financial Statements	3 to 5

Mapsong Limited

(Registration number: 09077991)
Balance Sheet
31 March 2018

	Note	2018 £	2017 £
Fixed assets
Tangible assets	4	1,086	247
Current assets
Cash at bank and in hand		1,680	1,287
Creditors: Amounts falling due within one year	6	(1,332)	(2,729)
Net current assets/(liabilities)		348	(1,442)
Net assets/(liabilities)		1,434	(1,195)
Capital and reserves
Called up share capital		2	2
Profit and loss account		1,432	(1,197)
Total equity		1,434	(1,195)

The notes on pages 3 to 5 form an integral part of these financial statements.

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1

Mapsong Limited

(Registration number: 09077991)
Balance Sheet
31 March 2018

For the financial year ending 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 20 December 2018 and signed on its behalf by:
 

 

M Whitfield

Company secretary and director

The notes on pages 3 to 5 form an integral part of these financial statements.

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2

Mapsong Limited

Notes to the Financial Statements
Year Ended 31 March 2018

1	General information

The company is a private company limited by share capital incorporated in England and Wales.

The address of its registered office is:
Cooper House
Lower Charlton Estate
Shepton Mallet
Somerset
BA4 5QE

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Office equipment	33% straight line basis
Plant and machinery	25% straight line basis

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3

Mapsong Limited

Notes to the Financial Statements
Year Ended 31 March 2018

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2017 - 1).

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4

Mapsong Limited

Notes to the Financial Statements
Year Ended 31 March 2018

4	Tangible assets

	Furniture, fittings and equipment  £	Other property, plant and equipment  £	Total £
Cost or valuation
At 1 April 2017	1,839	-	1,839
Additions	507	907	1,414
At 31 March 2018	2,346	907	3,253
Depreciation
At 1 April 2017	1,592	-	1,592
Charge for the year	348	227	575
At 31 March 2018	1,940	227	2,167
Carrying amount
At 31 March 2018	406	680	1,086
At 31 March 2017	247	-	247

5

Debtors

	2018 £	2017 £
Total current trade and other debtors	-	-

6

Creditors

	Note	2018 £	2017 £
Due within one year
Other creditors		678	648
Corporation tax liability		654	2,081
		1,332	2,729

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5