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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 30 September 2017 |
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for |
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M H Staniforth Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 30 September 2017 |
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for |
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M H Staniforth Limited |
M H Staniforth Limited (Registered number: 07620416) |
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Contents of the Financial Statements |
for the Year Ended 30 September 2017 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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M H Staniforth Limited |
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Company Information |
for the Year Ended 30 September 2017 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
50 Osmaston Road |
Derby |
DE1 2HU |
M H Staniforth Limited (Registered number: 07620416) |
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Balance Sheet |
30 September 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 8 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The director acknowledges his responsibilities for: |
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ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the
Companies Act 2006 and |
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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. |
M H Staniforth Limited (Registered number: 07620416) |
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Balance Sheet - continued |
30 September 2017 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director on
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M H Staniforth Limited (Registered number: 07620416) |
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Notes to the Financial Statements |
for the Year Ended 30 September 2017 |
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1. | STATUTORY INFORMATION |
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M H Staniforth Limited is a
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company's registered number and registered office address can be found on the Company Information |
page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | STATEMENT OF COMPLIANCE |
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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. These financial statements for the year ended 30 September 2017 are the first financial statements that comply with Section 1A "Small Entities" of Financial Reporting Standard 102. The date of transition is 1 October 2015. |
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The transition to Section 1A "Small Entities" of Financial Reporting Standard 102 has resulted in their being no changes in accounting policies to those used previously. This has resulted in there being no impact on the opening equity and profit for the comparative period. |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, |
rebates, value added tax and other sales taxes. |
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Tangible fixed assets |
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Land and buildings | - |
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Plant and machinery etc | - |
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Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation |
and accumulated impairment losses. Cost includes costs directly attributable to making the asset |
capable of operating as intended. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for |
obsolete and slow moving items. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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M H Staniforth Limited (Registered number: 07620416) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 September 2017 |
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3. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date. |
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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. |
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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. |
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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. |
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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 income |
statement in administrative expenses. |
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Impairment |
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at |
each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset`s |
cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount |
exceeds its recoverable amount, an impairment loss is recognised in the income statement unless the |
asset is carried at a revalued amount where the impairment loss is a revaluation decrease. |
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Provisions |
Provisions are recognised when the company has an obligation at the balance sheet date as a result of |
a past event, it is probable that an outflow of economic benefits will be required in settlement and the |
amount can be relaibly estimated. |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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M H Staniforth Limited (Registered number: 07620416) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 September 2017 |
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5. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 October 2016 |
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Additions |
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At 30 September 2017 |
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DEPRECIATION |
At 1 October 2016 |
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Charge for year |
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At 30 September 2017 |
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NET BOOK VALUE |
At 30 September 2017 |
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At 30 September 2016 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Prepayments |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade creditors |
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Corporation tax |
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Social security and other taxes |
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Other creditors |
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Directors' current accounts | 1,648 | 1,648 |
Accruals |
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8. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2017 | 2016 |
value: | £ | £ |
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Ordinary | £1 | 1 | 1 |