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Registration number: 03571652

Madecourt Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2018

image-name

DKP Accountants Sussex Limited

 

Madecourt Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 6

 

Madecourt Limited

Company Information

Director

Mr P Patterson

Registered office

Cornwallis Business Centre
Howard Chase
Basildon
Essex
SS14 3BB

Accountants

DKP Accountants Sussex Limited
Chartered Certified Accountants
Suite 10 Cortlandt
George Street
Hailsham
East Sussex
BN27 1AE

 

Madecourt Limited

(Registration number: 03571652)
Balance Sheet as at 31 March 2018

Note

2018
£

2017
£

Fixed assets

 

Tangible assets

3

319

426

Current assets

 

Debtors

4

-

1,989

Cash at bank and in hand

 

1,398

1,253

 

1,398

3,242

Creditors: Amounts falling due within one year

5

(56,771)

(61,629)

Net current liabilities

 

(55,373)

(58,387)

Net liabilities

 

(55,054)

(57,961)

Capital and reserves

 

Called up share capital

2

2

Profit and loss account

(55,056)

(57,963)

Total equity

 

(55,054)

(57,961)

For the financial year ending 31 March 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 22 October 2018
 

.........................................

Mr P Patterson
Director

 

Madecourt Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Cornwallis Business Centre
Howard Chase
Basildon
Essex
SS14 3BB
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture & Fittings

25% on reducing balance

 

Madecourt Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Madecourt Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

3

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2017

7,660

7,660

At 31 March 2018

7,660

7,660

Depreciation

At 1 April 2017

7,234

7,234

Charge for the year

107

107

At 31 March 2018

7,341

7,341

Carrying amount

At 31 March 2018

319

319

At 31 March 2017

426

426

4

Debtors

2018
£

2017
£

Trade debtors

-

1,989

Total current trade and other debtors

-

1,989

5

Creditors

Creditors: amounts falling due within one year

Note

2018
£

2017
£

Due within one year

 

Bank loans and overdrafts

7

-

2,345

Trade creditors

 

-

3,197

Accruals and deferred income

 

756

720

Other creditors

 

56,015

55,367

 

56,771

61,629

6

Share capital

Allotted, called up and fully paid shares

 

Madecourt Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

 

2018

2017

 

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

         

7

Loans and borrowings

2018
£

2017
£

Current loans and borrowings

Bank overdrafts

-

2,345