Max Thomas Family Holdings Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01317804 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

FOR

MAX THOMAS FAMILY HOLDINGS LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs A C Newson

Mrs M E Thomas

Mr S A Thomas

Mr M P Thomas

SECRETARY:

Mrs M E Thomas

REGISTERED OFFICE:

559a Green Lanes

Hornsey

London

N8 0RL

REGISTERED NUMBER:

01317804 (England and Wales)

ACCOUNTANTS:

AGK Partners

Chartered Accountants

1 Kings Avenue

London

N21 3NA

FIXED ASSETS

Tangible assets

4

6,770

7,965

Investments

5

800

800

Investment property

6

13,385,780

13,560,780

13,393,350

13,569,545

CURRENT ASSETS

Debtors

7

101,948

49,785

Cash at bank

108,201

443,846

210,149

493,631

CREDITORS

Amounts falling due within one year

8

347,873

245,035

NET CURRENT (LIABILITIES)/ASSETS

(137,724

)

248,596

TOTAL ASSETS LESS CURRENT LIABILITIES

13,255,626

13,818,141

PROVISIONS FOR LIABILITIES

1,119,991

1,248,231

NET ASSETS

12,135,635

12,569,910

CAPITAL AND RESERVES

Called up share capital

1,685,660

1,685,660

Share premium

57,500

57,500

Fair value reserve

8,216,042

8,235,572

Retained earnings

2,176,433

2,591,178

12,135,635

12,569,910

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.

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 7 December 2018 and were signed on its behalf by:

Mr S A Thomas - Director

1.	STATUTORY INFORMATION

Max Thomas Family Holdings Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Preparation of consolidated financial statements

The financial statements contain information about Max Thomas Family Holdings Ltd as an individual company

and do not contain consolidated financial information as the parent of a group. The company is exempt under

Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Significant judgements and estimates

In the application of the company's accounting policies, the director is required to make judgements, estimates

and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other

sources. The estimates and associated assumptions are based on historical experience and other factors that

are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting

estimates are recognised in the period in which the estimate is revised where the revision affects only that period

or in the period of the revision and future periods where the revision affects both current and future periods.

There are no significant judgements or estimates involved in the preparation of the financial statements.

Turnover

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

value added tax and other sales taxes.

Tangible fixed assets

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

losses. Such cost includes costs directly attributable to making the assets capable of operating as intended.

The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances

indicate the carrying value may not be recoverable.

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful

lives.

Plant and machinery 15% reducing balance

The company has adopted the policy of not depreciating the assets in the first year, however full depreciation is

provided in the year of disposal.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less impairment.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

fair value is recognised in profit or loss.

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 statement of financial position date.

Deferred tax

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

statement of financial position 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

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

lease.

Cash and cash equivalent

Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term

deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid

investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of

changes in value.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible

preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit

or loss.

Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised

in profit and loss.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2017 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 April 2017

and 31 March 2018

303,222

DEPRECIATION

At 1 April 2017

295,257

Charge for year

1,195

At 31 March 2018

296,452

NET BOOK VALUE

At 31 March 2018

6,770

At 31 March 2017

7,965

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2017

and 31 March 2018

800

NET BOOK VALUE

At 31 March 2018

800

At 31 March 2017

800

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2017

13,560,780

Disposals

(175,000

)

At 31 March 2018

13,385,780

NET BOOK VALUE

At 31 March 2018

13,385,780

At 31 March 2017

13,560,780

The directors consider that the market values of the properties as at 31 March 2018 were as per the values

stated in the financial statements.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Amounts owed by group undertakings

87,904

7,184

Other debtors

14,044

42,601

101,948

49,785

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

-

20,590

Taxation and social security

221,376

123,575

Other creditors

126,497

100,870

347,873

245,035

9.	RELATED PARTY DISCLOSURES

At the balance sheet date, the balance owing from the subsidiary company amounted to £ 87,904 ( 2017, £

7,184).