Registration number:
Matthew Churchill Ltd
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Matthew Churchill Ltd
Contents
Company Information |
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Statement of Financial Position |
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Notes to the Financial Statements |
Matthew Churchill Ltd
Company Information
Directors |
T Churchill M J Churchill |
Registered office |
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Matthew Churchill Ltd
Statement of Financial Position as at 28 February 2022
Note |
2022 |
2021 |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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( |
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Net liabilities |
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( |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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( |
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Total equity |
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For the financial year ending 28 February 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their 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 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
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 Statement of Income and Retained Earnings has been taken.
Approved and authorised by the
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M J Churchill
Director
Company registration number: 04862076
Matthew Churchill Ltd
Notes to the Financial Statements for the Year Ended 28 February 2022
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
The principal activity of the company is that of the provision of services to the creative industry.
Accounting policies |
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 any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.
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.
Going concern
The statement of financial position at 28 February 2022 showed net liabilities of £3,341.The company has few fixed overheads and further income is anticipated in the forthcoming year.
On the bases of the above, the directors have reasonable expectation that the company has adequate resources to configure in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis of preparing the financial statements.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of good and
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 based upon the stage of completion and contractual entitlement.
Matthew Churchill Ltd
Notes to the Financial Statements for the Year Ended 28 February 2022
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
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.
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.
Staff numbers |
The average number of persons employed by the company during the year, was
Matthew Churchill Ltd
Notes to the Financial Statements for the Year Ended 28 February 2022
Debtors |
2022 |
2021 |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
2022 |
2021 |
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Trade creditors |
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Corporation tax |
26,476 |
24,845 |
PAYE and NIC |
11,342 |
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Other creditors |
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43,591 |
Accruals |
130,269 |
23,575 |
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Transactions With Directors |
At 28 February 2022 an amount of £Nil (2021: £58,390) was due from the directors. During the year advances of £40,420 and repayments of £99,656 were made. Interest of £846 (2021: £724) was charged by the company at 2% p.a. There were no agreed terms.