Registered number
08855626
Michael Duffy Property Maintenance Ltd
Unaudited Filleted Accounts
31 March 2022
Michael Duffy Property Maintenance Ltd
Registered number: 08855626
Directors' Report
The directors present their report and accounts for the year ended 31 March 2022.
Principal activities
The company's principal activity during the year continued to be property maintenance services.
Directors
The following persons served as directors during the year:
Mr M R Duffy
Mrs K Duffy
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 17 August 2022 and signed on its behalf.
Mr M R Duffy
Director
Michael Duffy Property Maintenance Ltd
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Michael Duffy Property Maintenance Ltd for the year ended 31 March 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Michael Duffy Property Maintenance Ltd for the year ended 31 March 2022 which comprise of the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity 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, we are subject to its ethical and other professional requirements which are detailed at
www.icaew.com/en/members/regulations-standards-and-guidance
Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF.
Bunting & Co
Chartered Accountants
Punches Barn
Waterperry Road
Holton
Oxford
OX33 1PR
17 August 2022
Michael Duffy Property Maintenance Ltd
Registered number: 08855626
Balance Sheet
as at 31 March 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 3 4,005 -
Current assets
Work in progress 9,520 6,000
Debtors 4 - 1,370
Cash at bank and in hand 35,837 25,621
45,357 32,991
Creditors: amounts falling due within one year 5 (4,310) (2,281)
Net current assets 41,047 30,710
Total assets less current liabilities 45,052 30,710
Creditors: amounts falling due after more than one year 6 (44,084) (27,903)
Provisions for liabilities (761) -
Net assets 207 2,807
Capital and reserves
Called up share capital 100 100
Profit and loss account 107 2,707
Shareholders' funds 207 2,807
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr M R Duffy
Director
Approved by the board on 17 August 2022
Michael Duffy Property Maintenance Ltd
Notes to the Accounts
for the year ended 31 March 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Work in progress
Work in progress is valued at selling price.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Motor vehicles
£
Cost
Additions 5,340
At 31 March 2022 5,340
Depreciation
Charge for the year 1,335
At 31 March 2022 1,335
Net book value
At 31 March 2022 4,005
4 Debtors 2022 2021
£ £
Trade debtors - 1,370
5 Creditors: amounts falling due within one year 2022 2021
£ £
Trade creditors 755 743
Corporation tax 3,555 1,480
Other taxes and social security costs - 58
4,310 2,281
6 Creditors: amounts falling due after one year 2022 2021
£ £
Directors loan account 44,084 27,903
7 Controlling party
The company is controlled by the directors who between them own all of the issued share capital.
8 Other information
Michael Duffy Property Maintenance Ltd is a private company limited by shares and incorporated in England. Its registered office is:
102 Church Road
Wheatley
Oxford
OX33 1LU
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