Maxfield Kadlubowski Group Limited - Accounts to registrar (filleted) - small 18.2
Maxfield Kadlubowski Group Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018 |
| FOR |
| MAXFIELD KADLUBOWSKI GROUP LIMITED |
| MAXFIELD KADLUBOWSKI GROUP LIMITED (REGISTERED NUMBER: 04337420) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2018 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| MAXFIELD KADLUBOWSKI GROUP LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 DECEMBER 2018 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| STATUTORY AUDITOR |
| CHARTERED ACCOUNTANTS |
| Chart House |
| 2 Effingham Road |
| Reigate |
| Surrey |
| RH2 7JN |
| MAXFIELD KADLUBOWSKI GROUP LIMITED (REGISTERED NUMBER: 04337420) |
| BALANCE SHEET |
| 31 DECEMBER 2018 |
| 2018 | 2017 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks | 5 |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | 11 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 12 |
| Capital redemption reserve | 13 |
| Retained earnings | 13 |
| SHAREHOLDERS' FUNDS |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors on |
| MAXFIELD KADLUBOWSKI GROUP LIMITED (REGISTERED NUMBER: 04337420) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2018 |
| 1. | STATUTORY INFORMATION |
| Maxfield Kadlubowski Group Limited is a |
| company's registered number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents the invoiced value of sales and work done, excluding value added tax. |
| Tangible fixed assets |
| Short leasehold | - |
| Improvements to property | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving |
| items. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent |
| that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively |
| enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in |
| which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted |
| or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be |
| recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are |
| charged to profit or loss in the period to which they relate. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| MAXFIELD KADLUBOWSKI GROUP LIMITED (REGISTERED NUMBER: 04337420) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2018 |
| 4. | TANGIBLE FIXED ASSETS |
| Improvements |
| Short | to | Plant and |
| leasehold | property | machinery |
| £ | £ | £ |
| COST |
| At 1 January 2018 |
| Additions |
| At 31 December 2018 |
| DEPRECIATION |
| At 1 January 2018 |
| Charge for year |
| At 31 December 2018 |
| NET BOOK VALUE |
| At 31 December 2018 |
| At 31 December 2017 |
| Fixtures |
| and | Motor | Computer |
| fittings | vehicles | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 January 2018 |
| Additions |
| At 31 December 2018 |
| DEPRECIATION |
| At 1 January 2018 |
| Charge for year |
| At 31 December 2018 |
| NET BOOK VALUE |
| At 31 December 2018 |
| At 31 December 2017 |
| 5. | STOCKS |
| 2018 | 2017 |
| £ | £ |
| Stocks |
| MAXFIELD KADLUBOWSKI GROUP LIMITED (REGISTERED NUMBER: 04337420) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2018 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Directors' current accounts | 536,799 | - |
| Prepayments |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Bank loans and overdrafts (see note 8) |
| Trade creditors |
| Tax |
| Social security and other taxes |
| VAT | 22,384 | 38,430 |
| Other creditors |
| Directors' current accounts | - | 824 |
| Accrued expenses |
| 8. | LOANS |
| An analysis of the maturity of loans is given below: |
| 2018 | 2017 |
| £ | £ |
| Amounts falling due within one year or on demand: |
| Bank overdrafts |
| Bank loans |
| 9. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2018 | 2017 |
| £ | £ |
| Within one year |
| Between one and five years |
| MAXFIELD KADLUBOWSKI GROUP LIMITED (REGISTERED NUMBER: 04337420) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2018 |
| 10. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2018 | 2017 |
| £ | £ |
| Bank overdraft |
| Bank loans |
| 11. | PROVISIONS FOR LIABILITIES |
| 2018 | 2017 |
| £ | £ |
| Deferred tax | 19,600 | 8,746 |
| Deferred |
| tax |
| £ |
| Balance at 1 January 2018 |
| accelerated capital allowance | 10,854 |
| Balance at 31 December 2018 |
| 12. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2018 | 2017 |
| value: | £ | £ |
| Ordinary shares | £1 | 40,050 | 40,050 |
| 13. | RESERVES |
| Capital |
| Retained | redemption |
| earnings | reserve | Totals |
| £ | £ | £ |
| At 1 January 2018 | 740,617 |
| Deficit for the year | ( |
) | ( |
) |
| Dividends | ( |
) | ( |
) |
| At 31 December 2018 | 453,948 |
| 14. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| MAXFIELD KADLUBOWSKI GROUP LIMITED (REGISTERED NUMBER: 04337420) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2018 |
| 15. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the years ended 31 December 2018 and |
| 31 December 2017: |
| 2018 | 2017 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| 16. | RELATED PARTY DISCLOSURES |
| Maxfield Kadlubowski Developments Ltd |
| A company under common control until 14th November 2018 |
| Included in administrative expenses is rent of £36,000 (2017: £31,200) paid to Maxfield Kadlubowski Developments Ltd. Charges were at arms length and in the ordinary course of business. |
| 2018 | 2017 |
| £ | £ |
| Amount due from/(to ) related party at balance sheet date (nil% interest charged) | - | 353,217 |
| A Kadlubowski |
| A former director and shareholder of the company. |
| During the year the company distributed dividends of £64,000 (2017: £61,500) to Mrs Kadlubowski. |
| 17. | APB ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES |
| In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax |
| authorities and assist with the preparation of the financial statements. |
| MAXFIELD KADLUBOWSKI GROUP LIMITED (REGISTERED NUMBER: 04337420) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2018 |
| 18. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling parties are: |
| Mr J Muthiah |
| Mr S Dawett |