ACCOUNTS - Final Accounts

CASH AND CASH EQUIVALENTS

A M MALPASS LIMITED - Company Information

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Registered number: 3982340

A M MALPASS LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

For the Period Ended 31 March 2020

A M MALPASS LIMITED

Registered number: 3982340

BALANCE SHEET

As at 31 March 2020

	31 March	30 September
	2020	2018
Note	£	£

FIXED ASSETS
Investments	4		863,198		760,945
			863,198		760,945
CURRENT ASSETS
Debtors: amounts falling due within one year	5	-		140
Cash at bank and in hand	6	268,710		121,804
		268,710		121,944
Creditors: amounts falling due within one year	7	(81,632)		(56,015)
NET CURRENT ASSETS			187,078		65,929
TOTAL ASSETS LESS CURRENT LIABILITIES			1,050,276		826,874

NET ASSETS			1,050,276		826,874

CAPITAL AND RESERVES
Called up share capital	9	100	100
Profit and loss account		1,050,176	826,774
		1,050,276	826,874

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A M MALPASS LIMITED

Registered number: 3982340

BALANCE SHEET (CONTINUED)

As at 31 March 2020

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

................................................

A M Malpass

Director

Date: 8 December 2020

The notes on pages 3 to 6 form part of these financial statements.

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A M MALPASS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the Period Ended 31 March 2020

1.	GENERAL INFORMATION

A M Malpass Limited is a limited liability company, incorporated in the United Kingdom. Its registered office if Belmont House, Shrewsbury Business Park, Shrewsbury, Shropshire, SY2 6LG. The principal activity of the business is that of providing accountancy services.

2.ACCOUNTING POLICIES

2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

REVENUE

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

TAXATION

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

2.4

VALUATION OF INVESTMENTS

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

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A M MALPASS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the Period Ended 31 March 2020

2.ACCOUNTING POLICIES (CONTINUED)

2.5

DEBTORS

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.6

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.7

CREDITORS

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.8

FINANCIAL INSTRUMENTS

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an 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.

2.9

DIVIDENDS

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

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A M MALPASS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the Period Ended 31 March 2020

EMPLOYEES

The average monthly number of employees, including the director, during the period was as follows:

	2020	2018
	No.	No.

Director	1	1

4.	FIXED ASSET INVESTMENTS

		Other fixed asset investments
		£
	COST OR VALUATION
	At 1 October 2018	760,945
	Additions	102,253
	At 31 March 2020	863,198

DEBTORS

					31 March	30 September
					2020	2018
					£	£


Other debtors	-	140
	-	140

Cash at bank and in hand	268,710	121,804
	268,710	121,804

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A M MALPASS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the Period Ended 31 March 2020

Corporation tax	77,415	56,015
Other creditors	4,217	-
	81,632	56,015

	FINANCIAL ASSETS
	Financial assets measured at fair value through profit or loss	268,710	121,804

Allotted, called up and fully paid

10,000 (2018 - 10,000) Ordinary shares of £0.01 each	100	100

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