Company registration number 04366472 (England and Wales)
MALCOLM PIPER ACCOUNTING SERVICES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
MALCOLM PIPER ACCOUNTING SERVICES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
MALCOLM PIPER ACCOUNTING SERVICES LIMITED
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
76,862
91,450
Tangible assets
4
31,423
19,549
108,285
110,999
Current assets
Debtors
5
663,905
598,382
Investments
6
520
520
Cash at bank and in hand
3,706
8,411
668,131
607,313
Creditors: amounts falling due within one year
7
(532,797)
(443,189)
Net current assets
135,334
164,124
Total assets less current liabilities
243,619
275,123
Creditors: amounts falling due after more than one year
8
(40,530)
(92,095)
Net assets
203,089
183,028
Capital and reserves
Called up share capital
9
555
555
Profit and loss reserves
202,534
182,473
Total equity
203,089
183,028
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 477 of the Companies Act 2006 relating to small 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.
MALCOLM PIPER ACCOUNTING SERVICES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2023
31 March 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 31 January 2024 and are signed on its behalf by:
Mr Nigel Rogers
Director
Company Registration No. 04366472
MALCOLM PIPER ACCOUNTING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 3 -
1
Accounting policies
Company information
Malcolm Piper Accounting Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is Kingsnorth House, Blenheim Way, Birmingham, B44 8LS.
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 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 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. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
1.3
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 20 years.
1.4
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:
Leasehold land and buildings
20% on reducing balance
Fixtures and fittings
25% on reducing balance
Computers
25% on reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
MALCOLM PIPER ACCOUNTING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 4 -
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.
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.
1.6
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
22
21
3
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2022 and 31 March 2023
471,987
Amortisation and impairment
At 1 April 2022
380,537
Amortisation charged for the year
14,588
At 31 March 2023
395,125
Carrying amount
At 31 March 2023
76,862
At 31 March 2022
91,450
MALCOLM PIPER ACCOUNTING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 5 -
4
Tangible fixed assets
Leasehold land and buildings
Fixtures and fittings
Computers
Total
£
£
£
£
Cost
At 1 April 2022
7,475
34,492
21,002
62,969
Additions
840
13,865
14,705
At 31 March 2023
7,475
35,332
34,867
77,674
Depreciation and impairment
At 1 April 2022
5,269
24,894
13,257
43,420
Depreciation charged in the year
733
1,160
938
2,831
At 31 March 2023
6,002
26,054
14,195
46,251
Carrying amount
At 31 March 2023
1,473
9,278
20,672
31,423
At 31 March 2022
2,206
9,598
7,745
19,549
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
440,669
427,718
Gross amounts owed by contract customers
141,133
118,293
Other debtors
55,341
52,371
Prepayments and accrued income
26,762
663,905
598,382
6
Current asset investments
2023
2022
£
£
Shares in group undertakings
520
520
7
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
31,601
32,887
Trade creditors
67,817
27,273
Taxation and social security
254,079
242,198
Other creditors
179,300
140,831
532,797
443,189
MALCOLM PIPER ACCOUNTING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
7
Creditors: amounts falling due within one year
(Continued)
- 6 -
The bank loan is a CBILS loan which is backed by a Government guarantee.
8
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
40,530
77,550
Other creditors
14,545
40,530
92,095
The bank loan is a CIBILS loan which is backed by a Government guarantee.
9
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A shares of £1 each
150
150
150
150
Ordinary B shares of 1p each
13,475
13,475
135
135
Ordinary C shares of 1p each
13,475
13,475
135
135
Ordinary D shares of 1p each
13,475
13,475
135
135
40,575
40,575
555
555
10
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2023
2022
£
£
328,999
348,014