false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
false
false
No description of principal activity
2017-07-01
Sage Accounts Production Advanced 2018 - FRS
10,000
10,000
2,000
2,000
8,000
4,476
4,476
671
671
3,805
xbrli:pure
xbrli:shares
iso4217:GBP
10764859
2017-07-01
2018-06-30
10764859
2018-06-30
10764859
bus:OrdinaryShareClass1
2017-07-01
2018-06-30
10764859
bus:LeadAgentIfApplicable
2017-07-01
2018-06-30
10764859
bus:Director1
2017-07-01
2018-06-30
10764859
core:WithinOneYear
2018-06-30
10764859
core:PatentsTrademarksLicencesConcessionsSimilar
2018-06-30
10764859
core:PlantMachinery
2018-06-30
10764859
core:PatentsTrademarksLicencesConcessionsSimilar
2017-07-01
2018-06-30
10764859
core:PlantMachinery
2017-07-01
2018-06-30
10764859
core:ShareCapital
2018-06-30
10764859
core:RetainedEarningsAccumulatedLosses
2018-06-30
10764859
core:BetweenOneFiveYears
2018-06-30
10764859
bus:SmallEntities
2017-07-01
2018-06-30
10764859
bus:AuditExemptWithAccountantsReport
2017-07-01
2018-06-30
10764859
bus:FullAccounts
2017-07-01
2018-06-30
10764859
bus:SmallCompaniesRegimeForAccounts
2017-07-01
2018-06-30
10764859
bus:PrivateLimitedCompanyLtd
2017-07-01
2018-06-30
10764859
bus:OrdinaryShareClass1
2018-06-30
COMPANY REGISTRATION NUMBER:
10764859
Filleted Unaudited Financial Statements
|
|
for the period from 11th may 2017 to
|
|
for the period ended 30th June 2018
Chartered accountants report to the director on the preparation of the unaudited statutory financial statements
|
1
|
|
|
Statement of financial position
|
2 to 3
|
|
|
Notes to the financial statements
|
4 to 8
|
|
|
Chartered Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of
Maxey Lawn Care Limited
|
|
for the period ended 30th June 2018
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Maxey Lawn Care Limited for the period ended 30th June 2018, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the director of Maxey Lawn Care Limited in accordance with the terms of our engagement letter dated 19th September 2018. Our work has been undertaken solely to prepare for your approval the financial statements of Maxey Lawn Care Limited and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Maxey Lawn Care Limited and its director for our work or for this report.
It is your duty to ensure that Maxey Lawn Care Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Maxey Lawn Care Limited. You consider that Maxey Lawn Care Limited is exempt from the statutory audit requirement for the period. We have not been instructed to carry out an audit or a review of the financial statements of Maxey Lawn Care Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
MOORE THOMPSON
Chartered Accountants
Bank House
Broad Street
Spalding
PE11 1TB
Dated:
15 October 2018
Statement of Financial Position
|
|
as at
30 June 2018
Fixed assets
Intangible assets
|
4
|
|
8,000
|
Tangible assets
|
5
|
|
3,805
|
|
|
-----------
|
|
|
11,805
|
|
|
|
|
Current assets
Stocks
|
1,760
|
|
Debtors
|
6
|
546
|
|
Cash at bank and in hand
|
8,150
|
|
|
-----------
|
|
|
10,456
|
|
|
|
|
|
Creditors: amounts falling due within one year
|
7
|
40,696
|
|
|
-----------
|
|
Net current liabilities
|
|
30,240
|
|
|
-----------
|
Total assets less current liabilities
|
|
(
18,435)
|
|
|
|
|
Provisions
|
|
(
3,509)
|
|
|
-----------
|
Net liabilities
|
|
(
14,926)
|
|
|
-----------
|
|
|
|
Capital and reserves
Called up share capital
|
8
|
|
100
|
Profit and loss account
|
|
(
15,026)
|
|
|
-----------
|
Shareholders deficit
|
|
(
14,926)
|
|
|
-----------
|
|
|
|
|
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 comprehensive income has not been delivered.
For the period ending 30th June 2018 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 period 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
.
Statement of Financial Position (continued)
|
|
as at
30 June 2018
These financial statements were approved by the
board of directors
and authorised for issue on
15 October 2018
, and are signed on behalf of the board by:
Company registration number:
10764859
Notes to the Financial Statements
|
|
for the period ended 30th June 2018
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Bank House, Broad Street, Spalding, Lincs, PE11 1TB. The trading address is St Benedicts Priory, 3 Broadgate Lane, Deeping St James, Peterborough, PE6 8NW.
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.
The financial statements are prepared in sterling, which is the functional currency of the entity.
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.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are recorded at the fair value at the acquisition date.
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:
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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
|
Plant and machinery
|
-
|
15% reducing balance
|
|
|
|
|
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. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets
.
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.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
Going concern
At the balance sheet date, current liabilities exceed current assets by £15,715. This is due to amounts owed to the director being included within creditors due within one year. However, the director has indicated that he will not withdraw from these accounts in preference to other creditors, that they have operated within their bank facilities and that the accounts have been prepared on a going concern basis.
4.
Intangible assets
Cost
|
|
Additions
|
10,000
|
|
-----------
|
At 30th June 2018
|
10,000
|
|
-----------
|
Amortisation
|
|
Charge for the period
|
2,000
|
|
-----------
|
At 30th June 2018
|
2,000
|
|
-----------
|
Carrying amount
|
|
At 30th June 2018
|
8,000
|
|
-----------
|
|
|
5.
Tangible assets
Cost
|
|
At 1st July 2017
|
–
|
Additions
|
4,476
|
|
-----------
|
At 30th June 2018
|
4,476
|
|
-----------
|
Depreciation
|
|
At 1st July 2017
|
–
|
Charge for the period
|
671
|
|
-----------
|
At 30th June 2018
|
671
|
|
-----------
|
Carrying amount
|
|
At 30th June 2018
|
3,805
|
|
-----------
|
|
|
6.
Debtors
Trade debtors
|
546
|
|
-----------
|
|
|
7.
Creditors:
amounts falling due within one year
Trade creditors
|
972
|
Accruals and deferred income
|
3,161
|
Social security and other taxes
|
933
|
Director loan accounts
|
35,630
|
|
-----------
|
|
40,696
|
|
-----------
|
|
|
8.
Called up share capital
Issued, called up and fully paid
Ordinary shares of £ 1 each
|
100
|
100
|
|
-----------
|
-----------
|
|
|
|
During the period, 100 shares of £1 each was used to form the capital base of the company. The consideration received in this respect was £100.
9.
Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
Not later than 1 year
|
2,556
|
Later than 1 year and not later than 5 years
|
4,899
|
|
-----------
|
|
7,455
|
|
-----------
|
|
|