ACCOUNTS - Final Accounts


Caseware UK (AP4) 2019.0.227 2019.0.2272020-03-312020-03-31true2019-04-01falseNo description of principal activity22trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.084829292019-04-012020-03-31084829292018-04-012019-03-31084829292020-03-31084829292019-03-3108482929 c:Director2 2019-04-012020-03-3108482929 d:MotorVehicles 2019-04-012020-03-3108482929 d:MotorVehicles 2020-03-3108482929 d:MotorVehicles 2019-03-3108482929 d:MotorVehicles d:OwnedOrFreeholdAssets 2019-04-012020-03-3108482929 d:ComputerEquipment 2019-04-012020-03-3108482929 d:ComputerEquipment 2020-03-3108482929 d:ComputerEquipment 2019-03-3108482929 d:ComputerEquipment d:OwnedOrFreeholdAssets 2019-04-012020-03-3108482929 d:OwnedOrFreeholdAssets 2019-04-012020-03-3108482929 d:CurrentFinancialInstruments 2020-03-3108482929 d:CurrentFinancialInstruments 2019-03-3108482929 d:CurrentFinancialInstruments d:WithinOneYear 2020-03-3108482929 d:CurrentFinancialInstruments d:WithinOneYear 2019-03-3108482929 d:ShareCapital 2020-03-3108482929 d:ShareCapital 2019-03-3108482929 d:RetainedEarningsAccumulatedLosses 2020-03-3108482929 d:RetainedEarningsAccumulatedLosses 2019-03-3108482929 c:OrdinaryShareClass1 2019-04-012020-03-3108482929 c:OrdinaryShareClass1 2020-03-3108482929 c:OrdinaryShareClass1 2019-03-3108482929 c:OrdinaryShareClass2 2019-04-012020-03-3108482929 c:OrdinaryShareClass2 2020-03-3108482929 c:OrdinaryShareClass2 2019-03-3108482929 c:FRS102 2019-04-012020-03-3108482929 c:AuditExempt-NoAccountantsReport 2019-04-012020-03-3108482929 c:FullAccounts 2019-04-012020-03-3108482929 c:PrivateLimitedCompanyLtd 2019-04-012020-03-3108482929 d:AcceleratedTaxDepreciationDeferredTax 2020-03-3108482929 d:AcceleratedTaxDepreciationDeferredTax 2019-03-31xbrli:sharesiso4217:GBPxbrli:pure

Registered number: 08482929










MAUDGIL LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2020

 
MAUDGIL LIMITED
REGISTERED NUMBER: 08482929

BALANCE SHEET
AS AT 31 MARCH 2020

2020
2019
Note
£
£

Fixed assets
  

Tangible assets
 4 
12,239
-

  
12,239
-

Current assets
  

Debtors: amounts falling due within one year
 5 
2,690
2,859

Cash at bank and in hand
  
462,406
330,301

  
465,096
333,160

Creditors: amounts falling due within one year
 6 
(148,087)
(141,962)

Net current assets
  
 
 
317,009
 
 
191,198

Total assets less current liabilities
  
329,248
191,198

Provisions for liabilities
  

Deferred tax
 7 
(2,325)
-

  
 
 
(2,325)
 
 
-

Net assets
  
326,923
191,198


Capital and reserves
  

Called up share capital 
 8 
100
100

Profit and loss account
  
326,823
191,098

  
326,923
191,198


The directors consider 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 year in question in accordance with section 476 of the Companies Act 2006.

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 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.
 
Page 1

 
MAUDGIL LIMITED
REGISTERED NUMBER: 08482929

BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2020


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


Dr D D Maudgil
Director
Date: 5 January 2021

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
MAUDGIL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020

1.


General information

Maudgil Limited is a limited liability company incorporated in England and Wales. The address of its registered office is Reading Bridge House, George Street, Reading, Berkshire, RG1 8LS.

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

Going concern

The directors have considered the impact of the global Covid-19 pandemic on the ability of the company to continue trading for the foreseeable future. This review has included considering the impact of the pandemic to the date of signing the financial statements and updating financial projections. Based on this review and taken together with existing financing facilities the directors believe that the financial statements have been prepared appropriately on the going concern basis.

 
2.3

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 for services during the year, excluding discounts, rebates, value added tax and other sales taxes.

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 3

 
MAUDGIL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020

2.Accounting policies (continued)

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles
-
25% straight line
Computer equipment
-
33% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

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.

 
2.7

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.

 
2.8

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.

 
2.9

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 ordinary shares.

 
2.10

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.

Page 4

 
MAUDGIL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020

3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2019 - 2).


4.


Tangible fixed assets





Motor vehicles
Computer equipment
Total

£
£
£



Cost or valuation


At 1 April 2019
14,677
2,100
16,777


Additions
15,877
-
15,877



At 31 March 2020

30,554
2,100
32,654



Depreciation


At 1 April 2019
14,677
2,100
16,777


Charge for the year on owned assets
3,638
-
3,638



At 31 March 2020

18,315
2,100
20,415



Net book value



At 31 March 2020
12,239
-
12,239



At 31 March 2019
-
-
-


5.


Debtors

2020
2019
£
£


Other debtors
100
100

Prepayments and accrued income
2,590
2,759

2,690
2,859


Page 5

 
MAUDGIL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020

6.


Creditors: amounts falling due within one year

2020
2019
£
£

Corporation tax
47,310
40,609

Other creditors
98,497
99,073

Accruals and deferred income
2,280
2,280

148,087
141,962



7.


Deferred taxation




2020


£






At beginning of year
-


Charged to profit or loss
(2,325)



At end of year
(2,325)

The deferred taxation balance is made up as follows:

2020
2019
£
£


Accelerated capital allowances
(2,325)
-

(2,325)
-


8.


Share capital

2020
2019
£
£
Allotted, called up and fully paid



50 (2019 - 50) Ordinary A shares of £1.00 each
50
50
50 (2019 - 50) Ordinary B shares of £1.00 each
50
50

100

100

All shares rank pari passu with each other, however the directors have the authority to pay differing rates of dividends on each class of share.


Page 6

 
MAUDGIL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020

9.


Related party transactions

During the year the directors received dividends of £75,000 (2019: £100,000).
At the balance sheet date the directors were owed £98,497 by the company (2019: £99,073).


Page 7