The Maintenance Company Limited
Unaudited Financial Statements
For the year ended 31 March 2023
Pages for Filing with Registrar
Company Registration No. 04175405 (England and Wales)
The Maintenance Company Limited
Company Information
Directors
S.J.H. Ludlow
D.S.H. Thompson
Company number
04175405
Registered office
Suite G03/G04
Oak House
Bridgwater Road
Worcester
WR4 9FP
The Maintenance Company Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 4
The Maintenance Company Limited
Balance Sheet
As at 31 March 2023
Page 1
2023
2022
Notes
£
£
£
£
Current assets
Debtors
3
14,201
14,201
Cash at bank and in hand
3,126
3,126
17,327
17,327
Creditors: amounts falling due within one year
4
(2,924)
(2,924)
Net current assets
14,403
14,403
Capital and reserves
Called up share capital
5
1,000
1,000
Profit and loss reserves
13,403
13,403
Total equity
14,403
14,403
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
The directors acknowledge their 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.
The financial statements were approved by the board of directors and authorised for issue on 10 October 2023 and are signed on its behalf by:
S.J.H. Ludlow
Director
Company Registration No. 04175405
The Maintenance Company Limited
Notes to the Financial Statements
For the year ended 31 March 2023
Page 2
1
Accounting policies
Company information
The Maintenance Company Limited is a private company limited by shares incorporated in England and Wales. The registered office is Suite G03/G04, Oak House, Bridgwater Road, Worcester, WR4 9FP.
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 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 on the historical cost convention. The principal accounting policies adopted are set out below.
1.2
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.
Computer equipment
Straight line over 3 years
1.3
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
The Maintenance Company Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2023
1
Accounting policies
(Continued)
Page 3
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
2
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2022 and 31 March 2023
8,603
Depreciation and impairment
At 1 April 2022 and 31 March 2023
8,603
Carrying amount
At 31 March 2023
At 31 March 2022
3
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
14,201
14,201
4
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
2,150
2,150
Accruals and deferred income
774
774
2,924
2,924
The Maintenance Company Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2023
Page 4
5
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1,000
1,000
1,000
1,000
6
Controlling party
There is no ultimate controlling party.