3
false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
true
false
No description of principal activity
2018-12-01
Sage Accounts Production Advanced 2020 - FRS102_2014
29,348
5,870
2,935
8,805
20,543
23,478
2,729
143
2,872
2,586
64
2,650
222
143
xbrli:pure
xbrli:shares
iso4217:GBP
06352322
2018-12-01
2019-11-30
06352322
2019-11-30
06352322
2018-11-30
06352322
2017-12-01
2018-11-30
06352322
2018-11-30
06352322
core:NetGoodwill
2018-12-01
2019-11-30
06352322
bus:Director1
2018-12-01
2019-11-30
06352322
core:NetGoodwill
2018-11-30
06352322
core:NetGoodwill
2019-11-30
06352322
core:WithinOneYear
2019-11-30
06352322
core:WithinOneYear
2018-11-30
06352322
core:AfterOneYear
2019-11-30
06352322
core:AfterOneYear
2018-11-30
06352322
core:ShareCapital
2019-11-30
06352322
core:ShareCapital
2018-11-30
06352322
core:RetainedEarningsAccumulatedLosses
2019-11-30
06352322
core:RetainedEarningsAccumulatedLosses
2018-11-30
06352322
core:NetGoodwill
2018-11-30
06352322
bus:SmallEntities
2018-12-01
2019-11-30
06352322
bus:AuditExemptWithAccountantsReport
2018-12-01
2019-11-30
06352322
bus:FullAccounts
2018-12-01
2019-11-30
06352322
bus:SmallCompaniesRegimeForAccounts
2018-12-01
2019-11-30
06352322
bus:PrivateLimitedCompanyLtd
2018-12-01
2019-11-30
06352322
core:OfficeEquipment
2018-12-01
2019-11-30
06352322
core:OfficeEquipment
2018-11-30
06352322
core:OfficeEquipment
2019-11-30
COMPANY REGISTRATION NUMBER:
06352322
Microwave Service Company Limited
|
|
Filleted Unaudited Financial Statements
|
|
Microwave Service Company Limited
|
|
Year ended 30 November 2019
Statement of financial position
|
1
|
|
|
Notes to the financial statements
|
3
|
|
|
Microwave Service Company Limited
|
|
Statement of Financial Position
|
|
30 November 2019
Fixed assets
Intangible assets
|
5
|
20,543
|
23,478
|
Tangible assets
|
6
|
222
|
143
|
|
--------
|
--------
|
|
20,765
|
23,621
|
|
|
|
|
Current assets
Stocks
|
1,572
|
1,572
|
Debtors
|
7
|
14,064
|
8,982
|
Cash at bank and in hand
|
5,339
|
6,396
|
|
--------
|
--------
|
|
20,975
|
16,950
|
|
|
|
|
Creditors: amounts falling due within one year
|
8
|
34,166
|
28,188
|
|
--------
|
--------
|
Net current liabilities
|
13,191
|
11,238
|
|
--------
|
--------
|
Total assets less current liabilities
|
7,574
|
12,383
|
|
|
|
|
Creditors: amounts falling due after more than one year
|
9
|
6,873
|
10,505
|
|
-------
|
--------
|
Net assets
|
701
|
1,878
|
|
-------
|
--------
|
|
|
|
|
Capital and reserves
Called up share capital
|
1
|
1
|
Profit and loss account
|
700
|
1,877
|
|
----
|
-------
|
Shareholders funds
|
701
|
1,878
|
|
----
|
-------
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 November 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
Microwave Service Company Limited
|
|
Statement of Financial Position (continued)
|
|
30 November 2019
These financial statements were approved by the
board of directors
and authorised for issue on
26 November 2020
, and are signed on behalf of the board by:
Company registration number:
06352322
Microwave Service Company Limited
|
|
Notes to the Financial Statements
|
|
Year ended 30 November 2019
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Main Road, Sellindge, Ashford, Kent, TN25 6EQ.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The accounts have been prepared on a going concern basis which relies upon the continuing support of the director.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
|
Goodwill
|
-
|
10% straight line
|
|
|
|
|
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Equipment
|
-
|
25% straight line
|
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Debtors and creditors receivable/payable 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.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
3
(2018:
3
).
5.
Intangible assets
|
Goodwill
|
|
£
|
Cost
|
|
At 1 December 2018 and 30 November 2019
|
29,348
|
|
--------
|
Amortisation
|
|
At 1 December 2018
|
5,870
|
Charge for the year
|
2,935
|
|
--------
|
At 30 November 2019
|
8,805
|
|
--------
|
Carrying amount
|
|
At 30 November 2019
|
20,543
|
|
--------
|
At 30 November 2018
|
23,478
|
|
--------
|
|
|
6.
Tangible assets
|
Equipment
|
|
£
|
Cost
|
|
At 1 December 2018
|
2,729
|
Additions
|
143
|
|
-------
|
At 30 November 2019
|
2,872
|
|
-------
|
Depreciation
|
|
At 1 December 2018
|
2,586
|
Charge for the year
|
64
|
|
-------
|
At 30 November 2019
|
2,650
|
|
-------
|
Carrying amount
|
|
At 30 November 2019
|
222
|
|
-------
|
At 30 November 2018
|
143
|
|
-------
|
|
|
7.
Debtors
|
2019
|
2018
|
|
£
|
£
|
Trade debtors
|
2,170
|
3,170
|
Other debtors
|
11,894
|
5,812
|
|
--------
|
-------
|
|
14,064
|
8,982
|
|
--------
|
-------
|
|
|
|
8.
Creditors:
amounts falling due within one year
|
2019
|
2018
|
|
£
|
£
|
Bank loans and overdrafts
|
3,399
|
3,476
|
Trade creditors
|
8,333
|
5,861
|
Corporation tax
|
1,492
|
553
|
Social security and other taxes
|
10,797
|
7,562
|
Other loans
|
9,858
|
10,736
|
Other creditors
|
287
|
–
|
|
--------
|
--------
|
|
34,166
|
28,188
|
|
--------
|
--------
|
|
|
|
9.
Creditors:
amounts falling due after more than one year
|
2019
|
2018
|
|
£
|
£
|
Bank loans and overdrafts
|
6,873
|
10,505
|
|
-------
|
--------
|
|
|
|
10.
Director's advances, credits and guarantees
During the year advances of £5,783 were made to the director. Credits of £1,193 were paid by the director. At the year end the director owed the company £10,402 (2018: £5,812). Interest of £261 was charged during the year (2018: £nil).