Moulded Pulp Products Limited Filleted accounts for Companies House (small and micro)

Moulded Pulp Products Limited Filleted accounts for Companies House (small and micro)

MOULDED PULP PRODUCTS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: NI004344
MOULDED PULP PRODUCTS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 December 2019
MOULDED PULP PRODUCTS LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2019
CONTENTS
PAGE
Chartered accountants report to the director on the preparation of the unaudited statutory financial statements
1
Statement of financial position
2
Notes to the financial statements
3
MOULDED PULP PRODUCTS LIMITED
CHARTERED ACCOUNTANTS REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF MOULDED PULP PRODUCTS LIMITED
YEAR ENDED 31 DECEMBER 2019
As described on the statement of financial position, the director of the company is responsible for the preparation of the financial statements for the year ended 31 December 2019, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
HENRY MURRAY & COMPANY LTD. Chartered Accountants
23 Church Place, Lurgan, Co. Armagh. N. Ireland BT66 6EY
7 October 2020
MOULDED PULP PRODUCTS LIMITED
STATEMENT OF FINANCIAL POSITION
31 December 2019
2019
2018
Note
£
£
CURRENT ASSETS
Investments
5
387,501
437,501
Cash at bank and in hand
34,230
28,955
---------
---------
421,731
466,456
CREDITORS: amounts falling due within one year
6
17,661
31,513
---------
---------
NET CURRENT ASSETS
404,070
434,943
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
404,070
434,943
---------
---------
NET ASSETS
404,070
434,943
---------
---------
CAPITAL AND RESERVES
Called up share capital
7
500
500
Profit and loss account
403,570
434,443
---------
---------
SHAREHOLDERS FUNDS
404,070
434,943
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 7 October 2020 , and are signed on behalf of the board by:
Mr. R Best
Director
Company registration number: NI004344
MOULDED PULP PRODUCTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2019
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 23 Church Place, Lurgan, Craigavon, N. Ireland, BT66 6EY.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. DIVIDENDS
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year):
2019
2018
£
£
Equity dividends on ordinary shares
30,000
30,000
--------
--------
5. INVESTMENTS
2019
2018
£
£
Investments - CMI
387,501
437,501
---------
---------
Investments held with RL360 Services (Formerly Clerical Medical Insurance) are valued at £746,324.20 as at 29th November 2019. For the previous year at 29th November 2018, these investments were valued at £758,225.96.
6. CREDITORS: amounts falling due within one year
2019
2018
£
£
Trade creditors
–
1,007
Corporation tax
11
6
Other creditors
17,650
30,500
--------
--------
17,661
31,513
--------
--------
7. CALLED UP SHARE CAPITAL
Authorised share capital
2019
2018
No.
£
No.
£
Ordinary shares of £ 1 each
500
500
500
500
----
----
----
----
Issued, called up and fully paid
2019
2018
No.
£
No.
£
Ordinary shares of £ 1 each
500
500
500
500
----
----
----
----
8. RELATED PARTY TRANSACTIONS
No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 8.