Company Registration No. 1215097 (England and Wales)
May & Philpot Management Limited
Unaudited accounts
for the year ended 31 May 2023
May & Philpot Management Limited
Unaudited accounts
Contents
May & Philpot Management Limited
Company Information
for the year ended 31 May 2023
Directors
Jonathan Lovejoy
Georgina Lovejoy
Michael Thornton
Rachel Thornton
Company Number
1215097 (England and Wales)
Registered Office
6 Sylvan Gardens
Surbiton
Surrey
KT6 6PP
Accountants
Newnham & Son Ltd
School Master's House
39 College Street
Petersfield
Hampshire
GU31 4AG
May & Philpot Management Limited
Statement of financial position
as at 31 May 2023
Tangible assets
202,960
206,382
Cash at bank and in hand
266,811
594,690
Creditors: amounts falling due within one year
(114,749)
(24,725)
Net current assets
414,912
580,269
Total assets less current liabilities
617,872
786,651
Creditors: amounts falling due after more than one year
-
(957)
Net assets
617,872
785,694
Called up share capital
1,000
1,000
Capital redemption reserve
100,436
100,436
Profit and loss account
516,436
684,258
Shareholders' funds
617,872
785,694
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 17 November 2023 and were signed on its behalf by
Jonathan Lovejoy
Director
Company Registration No. 1215097
May & Philpot Management Limited
Notes to the Accounts
for the year ended 31 May 2023
May & Philpot Management Limited is a private company, limited by shares, registered in England and Wales, registration number 1215097. The registered office is 6 Sylvan Gardens, Surbiton, Surrey, KT6 6PP.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
1% straight line
Computer equipment
25% straight line
4
Tangible fixed assets
Land & buildings
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 June 2022
293,425
970
3,609
298,004
At 31 May 2023
293,425
970
3,609
298,004
At 1 June 2022
88,020
970
2,632
91,622
Charge for the year
2,934
-
488
3,422
At 31 May 2023
90,954
970
3,120
95,044
At 31 May 2023
202,471
-
489
202,960
At 31 May 2022
205,405
-
977
206,382
Amounts falling due within one year
Accrued income and prepayments
987
10,304
May & Philpot Management Limited
Notes to the Accounts
for the year ended 31 May 2023
6
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
93,898
4,399
Other creditors
11,500
11,500
Deferred income
3,833
3,151
7
Creditors: amounts falling due after more than one year
2023
2022
Loans from directors
-
957
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Directors loan
-
181,201
50,270
130,931
Directors loan
-
181,201
50,270
130,931
-
362,402
100,540
261,862
During the year, the company made advances to a director amounting to £362,402 (2022: NIL). The company received repayments of £100,540 (2022: NIL).The balance will continue to be repaid each year by each director until fully repaid. The loans are charged at the HMRC official rate of interest for beneficial loans and each director pays this amount in full each year.
9
Transactions with related parties
During the year dividends totalling £100,540 (2022 - NIL) were paid to the directors and their families.
10
Average number of employees
During the year the average number of employees was 4 (2022: 2).