Mounsey Surveyors Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07381949 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 October 2018

for

Mounsey Surveyors Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

R D Mounsey

Mrs E J Mounsey

T Johnson

SECRETARY:

Mrs E J Mounsey

REGISTERED OFFICE:

The Glades

Festival Way

Festival Park

Stoke-on-Trent

Staffordshire

ST1 5SQ

REGISTERED NUMBER:

07381949 (England and Wales)

FIXED ASSETS

Tangible assets

5

4,830

14,717

Investments

6

20

-

Investment property

7

183,436

183,436

188,286

198,153

CURRENT ASSETS

Debtors

8

70,182

34,152

Cash at bank and in hand

73,305

35,823

143,487

69,975

CREDITORS

Amounts falling due within one year

9

83,008

63,899

NET CURRENT ASSETS

60,479

6,076

TOTAL ASSETS LESS CURRENT LIABILITIES

248,765

204,229

CREDITORS

Amounts falling due after more than one year

10

(122,132

)

(127,647

)

PROVISIONS FOR LIABILITIES

-

(2,700

)

NET ASSETS

126,633

73,882

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

126,533

73,782

SHAREHOLDERS' FUNDS

126,633

73,882

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 25 January 2019 and were signed on its behalf by:

R D Mounsey - Director

1.	STATUTORY INFORMATION

Mounsey Surveyors 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.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements cover the company as an individual entity, have been prepared under the

historical cost convention and are presented in Pounds Sterling (£) being the functional currency.

The financial statements have been prepared on the assumption that the company is able to carry on

business as a going concern, which the directors consider appropriate having regard to the company's

current and expected performance.

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

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

50% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33.33% on cost

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.

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 or loss.

Taxation

Taxation for the year comprises current and deferred tax if applicable. 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.

Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held

under finance leases are depreciated over their estimated useful lives or the lease term, whichever is

the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The

capital element of the future payments is treated as a liability.

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.

4.

EMPLOYEES

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

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

Motor

Computer

property

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 November 2017

8,709

5,189

19,481

20,602

53,981

Additions

-

-

-

683

683

Disposals

-

-

(19,481

)

-

(19,481

)

At 31 October 2018

8,709

5,189

-

21,285

35,183

DEPRECIATION

At 1 November 2017

8,709

3,154

13,317

14,084

39,264

Charge for year

-

733

-

3,673

4,406

Eliminated on disposal

-

-

(13,317

)

-

(13,317

)

At 31 October 2018

8,709

3,887

-

17,757

30,353

NET BOOK VALUE

At 31 October 2018

-

1,302

-

3,528

4,830

At 31 October 2017

-

2,035

6,164

6,518

14,717

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 November 2017

18,016

Disposals

(18,016

)

At 31 October 2018

-

DEPRECIATION

At 1 November 2017

12,316

Eliminated on disposal

(12,316

)

At 31 October 2018

-

NET BOOK VALUE

At 31 October 2018

-

At 31 October 2017

5,700

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

Additions

20

At 31 October 2018

20

NET BOOK VALUE

At 31 October 2018

20

7.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 November 2017

and 31 October 2018

183,436

NET BOOK VALUE

At 31 October 2018

183,436

At 31 October 2017

183,436

The directors are satisfied that the value of the investment property at the reporting date is at fair

value.

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

56,783

27,017

Other debtors

13,399

7,135

70,182

34,152

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

5,251

5,114

Hire purchase contracts

-

1,250

Trade creditors

2,717

16,749

Taxation and social security

63,673

31,786

Other creditors

11,367

9,000

83,008

63,899

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Bank loans

122,132

127,647

11.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Bank loans

127,383

132,761

Hire purchase contracts

-

1,250

127,383

134,011

The bank loan is secured by a legal charge over the investment property.

12.	OTHER FINANCIAL COMMITMENTS

The total amount of financial commitments that are not included in the statement of financial position

amount to £64,928 (2017 - £32,111).

13.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2018 and

31 October 2017:

2018

2017

£

£

T Johnson

Balance outstanding at start of year

-

-

Amounts advanced

6,000

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

6,000

-

The advance was unsecured, interest free and repayable on demand.