Company registration number 07160781 (England and Wales)
MAIDMENT JUDD LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
PAGES FOR FILING WITH REGISTRAR
MAIDMENT JUDD LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
MAIDMENT JUDD LIMITED
BALANCE SHEET
AS AT
31 MARCH 2022
31 March 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Intangible assets
3
8,769
19,619
Tangible assets
4
1,118
1,020
9,887
20,639
Current assets
Debtors
5
32,688
39,897
Cash at bank and in hand
148,980
124,178
181,668
164,075
Creditors: amounts falling due within one year
6
(40,819)
(35,373)
Net current assets
140,849
128,702
Total assets less current liabilities
150,736
149,341
Provisions for liabilities
(212)
(194)
Net assets
150,524
149,147
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
150,424
149,047
Total equity
150,524
149,147

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

MAIDMENT JUDD LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2022
31 March 2022
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 5 September 2022
M Ivey
Director
Company Registration No. 07160781
MAIDMENT JUDD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
- 3 -
1
Accounting policies
Company information

Maidment Judd Limited is a private company limited by shares incorporated in England and Wales. The registered office is Charter House, Marlborough Park, Southdown Road, Harpenden, Herts, AL5 1NL.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is five years.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
20% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

MAIDMENT JUDD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
1
Accounting policies
(Continued)
- 4 -
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

Trade debtors, loans and other receivables that have fixed or determinable payments that are not quoted in an active market are classified as 'loans and receivables'. Loans and receivables are measured at amortised cost using the effective interest method, less any impairment.

 

Interest is recognised by applying the effective interest rate, except for short-term receivables when the recognition of interest would be immaterial. The effective interest method is a method of calculating the amortised cost of a debt instrument and of allocating the interest income over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash receipts through the expected life of the debt instrument to the net carrying amount on initial recognition.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

MAIDMENT JUDD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
1
Accounting policies
(Continued)
- 5 -
1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.13
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

1.14
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2022
2021
Number
Number
Total
5
5
MAIDMENT JUDD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
- 6 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2021 and 31 March 2022
248,687
Amortisation and impairment
At 1 April 2021
229,068
Amortisation charged for the year
10,850
At 31 March 2022
239,918
Carrying amount
At 31 March 2022
8,769
At 31 March 2021
19,619
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2021
13,912
Additions
624
At 31 March 2022
14,536
Depreciation and impairment
At 1 April 2021
12,892
Depreciation charged in the year
526
At 31 March 2022
13,418
Carrying amount
At 31 March 2022
1,118
At 31 March 2021
1,020
5
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
28,600
35,836
Other debtors
4,088
4,061
32,688
39,897
MAIDMENT JUDD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
- 7 -
6
Creditors: amounts falling due within one year
2022
2021
£
£
Taxation and social security
39,399
30,576
Other creditors
1,420
4,797
40,819
35,373
7
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2022
2021
£
£
62,299
59,451
2022-03-312021-04-01false05 September 2022CCH SoftwareCCH Accounts Production 2022.100No description of principal activityM Ivey071607812021-04-012022-03-31071607812022-03-31071607812021-03-3107160781core:NetGoodwill2022-03-3107160781core:NetGoodwill2021-03-3107160781core:OtherPropertyPlantEquipment2022-03-3107160781core:OtherPropertyPlantEquipment2021-03-3107160781core:CurrentFinancialInstrumentscore:WithinOneYear2022-03-3107160781core:CurrentFinancialInstrumentscore:WithinOneYear2021-03-3107160781core:CurrentFinancialInstruments2022-03-3107160781core:CurrentFinancialInstruments2021-03-3107160781core:ShareCapital2022-03-3107160781core:ShareCapital2021-03-3107160781core:RetainedEarningsAccumulatedLosses2022-03-3107160781core:RetainedEarningsAccumulatedLosses2021-03-3107160781bus:Director12021-04-012022-03-3107160781core:Goodwill2021-04-012022-03-3107160781core:PlantMachinery2021-04-012022-03-31071607812020-04-012021-03-3107160781core:NetGoodwill2021-03-3107160781core:NetGoodwill2021-04-012022-03-3107160781core:OtherPropertyPlantEquipment2021-03-3107160781core:OtherPropertyPlantEquipment2021-04-012022-03-3107160781core:WithinOneYear2022-03-3107160781core:WithinOneYear2021-03-3107160781bus:PrivateLimitedCompanyLtd2021-04-012022-03-3107160781bus:SmallCompaniesRegimeForAccounts2021-04-012022-03-3107160781bus:FRS1022021-04-012022-03-3107160781bus:AuditExempt-NoAccountantsReport2021-04-012022-03-3107160781bus:FullAccounts2021-04-012022-03-31xbrli:purexbrli:sharesiso4217:GBP