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Company registration number: 05093165
MAYFIELD MORRISON LIMITED
30 April 2023
HEYWOODS
Chartered Accountants
Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 3AB
MAYFIELD MORRISON LIMITED
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
MAYFIELD MORRISON LIMITED
DIRECTORS AND OTHER INFORMATION
Directors Mr D K Webb-Thomas
Mrs S E Webb-Thomas
Secretary Mrs S E Webb-Thomas
Company number 05093165
Registered office 62 Upper Road
Shrewsbury
Shropshire
SY3 9JP
Business address 62 Upper Road
Shrewsbury
Shropshire
SY3 9JP
Accountants Heywoods
Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 3AB
MAYFIELD MORRISON LIMITED
CHARTERED ACCOUNTANTS REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE
UNAUDITED STATUTORY FINANCIAL STATEMENTS OF MAYFIELD MORRISON LIMITED
YEAR ENDED 30 APRIL 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Mayfield Morrison Limited for the year ended 30 April 2023 as set out on pages 5 to 10 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 http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of Mayfield Morrison Limited, as a body, in accordance with the terms of our engagement letter dated 22 May 2018. Our work has been undertaken solely to prepare for your approval the financial statements of Mayfield Morrison Limited and state those matters that we have agreed to state to the board of directors of Mayfield Morrison Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Mayfield Morrison Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Mayfield Morrison 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 profit of Mayfield Morrison Limited. You consider that Mayfield Morrison Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Mayfield Morrison 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.
Heywoods
Chartered Accountants
Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 3AB
6 November 2023
MAYFIELD MORRISON LIMITED
STATEMENT OF FINANCIAL POSITION
30 APRIL 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 4,221 2,779
_______ _______
4,221 2,779
Current assets
Debtors 6 9,760 7,170
Cash at bank and in hand 41,560 37,562
_______ _______
51,320 44,732
Creditors: amounts falling due
within one year 7 ( 21,857) ( 22,568)
_______ _______
Net current assets 29,463 22,164
_______ _______
Total assets less current liabilities 33,684 24,943
Provisions for liabilities ( 802) ( 528)
_______ _______
Net assets 32,882 24,415
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 32,782 24,315
_______ _______
Shareholders funds 32,882 24,415
_______ _______
For the year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- 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;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 Section 1A of 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.
These financial statements were approved by the board of directors and authorised for issue on 21 October 2023 , and are signed on behalf of the board by:
Mr D K Webb-Thomas
Director
Company registration number: 05093165
MAYFIELD MORRISON LIMITED
STATEMENT OF CHANGES IN EQUITY
YEAR ENDED 30 APRIL 2023
Called up share capital Profit and loss account Total
£ £ £
At 1 May 2021 100 17,873 17,973
Profit for the year 28,442 28,442
_______ _______ _______
Total comprehensive income for the year - 28,442 28,442
Dividends paid and payable ( 22,000) ( 22,000)
_______ _______ _______
Total investments by and distributions to owners - ( 22,000) ( 22,000)
_______ _______ _______
At 30 April 2022 and 1 May 2022 100 24,315 24,415
Profit for the year 33,467 33,467
_______ _______ _______
Total comprehensive income for the year - 33,467 33,467
Dividends paid and payable ( 25,000) ( 25,000)
_______ _______ _______
Total investments by and distributions to owners - ( 25,000) ( 25,000)
_______ _______ _______
At 30 April 2023 100 32,782 32,882
_______ _______ _______
MAYFIELD MORRISON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 APRIL 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 62 Upper Road, Shrewsbury, Shropshire, SY3 9JP.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the value of the consideration received or receivable for services supplied, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
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:
Fittings fixtures and equipment - 15 % reducing balance
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2022: 3 ).
5. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 May 2022 6,308 6,308
Additions 1,898 1,898
_______ _______
At 30 April 2023 8,206 8,206
_______ _______
Depreciation
At 1 May 2022 3,529 3,529
Charge for the year 456 456
_______ _______
At 30 April 2023 3,985 3,985
_______ _______
Carrying amount
At 30 April 2023 4,221 4,221
_______ _______
At 30 April 2022 2,779 2,779
_______ _______
6. Debtors
2023 2022
£ £
Trade debtors 8,718 6,078
Other debtors 1,042 1,092
_______ _______
9,760 7,170
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 716 510
Corporation tax 7,488 6,731
Social security and other taxes 9,587 7,873
Other creditors 4,066 7,454
_______ _______
21,857 22,568
_______ _______
8. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Mr D K Webb-Thomas ( 3,904) - 1,336 ( 2,568)
_______ _______ _______ _______
2022
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Mr D K Webb-Thomas ( 2,397) ( 1,507) - ( 3,904)
_______ _______ _______ _______