Company Registration No. 06479988 (England and Wales)
DAVID MAYLOR COACHING AND DEVELOPMENT LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023
PAGES FOR FILING WITH REGISTRAR
DAVID MAYLOR COACHING AND DEVELOPMENT LTD
COMPANY INFORMATION
Director
Mr D R Maylor
Company number
06479988
Registered office
5 Gisburn Close
Brockhill
Redditch
Worcestershire
B97 6TH
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
Santander UK Plc
93 High Street
Bromsgrove
Worcestershire
B61 8AS
DAVID MAYLOR COACHING AND DEVELOPMENT LTD
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
DAVID MAYLOR COACHING AND DEVELOPMENT LTD
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF DAVID MAYLOR COACHING AND DEVELOPMENT LTD FOR THE YEAR ENDED 31 MAY 2023
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of David Maylor Coaching and Development Ltd for the year ended 31 May 2023 which comprise, the balance sheet 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 (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 David Maylor Coaching and Development Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of David Maylor Coaching and Development Ltd and state those matters that we have agreed to state to the Board of Directors of David Maylor Coaching and Development Ltd, 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 David Maylor Coaching and Development Ltd and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that David Maylor Coaching and Development Ltd 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 David Maylor Coaching and Development Ltd. You consider that David Maylor Coaching and Development Ltd 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 David Maylor Coaching and Development Ltd. 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.
Ormerod Rutter Limited
15 November 2023
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
DAVID MAYLOR COACHING AND DEVELOPMENT LTD
BALANCE SHEET
AS AT 31 MAY 2023
31 May 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,655
2,246
Investments
4
33,118
32,798
34,773
35,044
Current assets
Debtors
5
1,938
6,989
Cash at bank and in hand
55,637
77,236
57,575
84,225
Creditors: amounts falling due within one year
6
(23,053)
(19,392)
Net current assets
34,522
64,833
Total assets less current liabilities
69,295
99,877
Provisions for liabilities
7
(1,665)
(1,677)
Net assets
67,630
98,200
Capital and reserves
Called up share capital
8
1
1
Profit and loss reserves
67,629
98,199
Total equity
67,630
98,200
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has 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.
DAVID MAYLOR COACHING AND DEVELOPMENT LTD
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2023
31 May 2023
- 3 -
The financial statements were approved and signed by the director and authorised for issue on 15 November 2023.
Mr D R Maylor
Director
Company Registration No. 06479988
DAVID MAYLOR COACHING AND DEVELOPMENT LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023
- 4 -
1
Accounting policies
Company information
David Maylor Coaching and Development Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 5 Gisburn Close, Brockhill, Redditch, Worcestershire, B97 6TH.
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 disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT.
Revenue from the provision of services is recognised by reference to the stage of completion, when the costs incurred and costs to complete can be estimated reliably.
1.3
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.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
15% on cost
Computer equipment
25% on reducing balance
1.4
Fixed asset investments
Fixed asset investments are initially measure at transactions price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in profit or loss. Transaction costs are expensed to profit or loss as incurred.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
DAVID MAYLOR COACHING AND DEVELOPMENT LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
1
Accounting policies
(Continued)
- 5 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.6
Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
1.7
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 1 (2022 - 1).
3
Tangible fixed assets
Fixtures and fittings
Computer equipment
Total
£
£
£
Cost
At 1 June 2022 and 31 May 2023
1,522
14,674
16,196
Depreciation and impairment
At 1 June 2022
1,487
12,463
13,950
Depreciation charged in the year
35
556
591
At 31 May 2023
1,522
13,019
14,541
Carrying amount
At 31 May 2023
1,655
1,655
At 31 May 2022
35
2,211
2,246
DAVID MAYLOR COACHING AND DEVELOPMENT LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
- 6 -
4
Fixed asset investments
2023
2022
£
£
Investments
33,118
32,798
Movements in fixed asset investments
Investments other than loans
£
Cost or valuation
At 1 June 2022
32,798
Valuation changes
528
Disposals
(208)
At 31 May 2023
33,118
Carrying amount
At 31 May 2023
33,118
At 31 May 2022
32,798
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
1,938
6,989
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
723
699
Taxation and social security
4,906
17,448
Other creditors
17,424
1,245
23,053
19,392
7
Provisions for liabilities
2023
2022
£
£
Deferred tax liabilities
1,665
1,677
DAVID MAYLOR COACHING AND DEVELOPMENT LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
- 7 -
8
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
1 Ordinary of £1 each
1
1
1
1
9
Ultimate controlling party
The ultimate controlling party is Mr D R Maylor.