Mark Gower Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07265446 (England and Wales)

Mark Gower Limited

Unaudited Financial Statements for the Year Ended 31st May 2020

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M G Gower

Mrs J P Gower

SECRETARY:

Mrs J P Gower

REGISTERED OFFICE:

Adelphi Chambers

30 Hoghton Street

Southport

Merseyside

PR9 0NZ

REGISTERED NUMBER:

07265446 (England and Wales)

ACCOUNTANTS:

Hadley & Co

Chartered Accountants

Adelphi Chambers

30 Hoghton Street

Southport

PR9 0NZ

FIXED ASSETS

Intangible assets

4

20,000

40,000

Tangible assets

5

15,011

18,944

35,011

58,944

CURRENT ASSETS

Debtors

6

19,861

10,260

Cash at bank

90,745

87,867

110,606

98,127

CREDITORS

Amounts falling due within one year

7

54,677

49,690

NET CURRENT ASSETS

55,929

48,437

TOTAL ASSETS LESS CURRENT LIABILITIES

90,940

107,381

CREDITORS

Amounts falling due after more than one year

8

7,788

11,513

NET ASSETS

83,152

95,868

CAPITAL AND RESERVES

Called up share capital

9

1,000

1,000

Retained earnings

10

82,152

94,868

SHAREHOLDERS' FUNDS

83,152

95,868

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

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 and authorised for issue on 18th May 2021 and were signed on its behalf by:

M G Gower - Director

Mrs J P Gower - Director

1.	STATUTORY INFORMATION

Mark Gower Limited is a private company, limited by shares , registered in England and Wales. The 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

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Changes in accounting policies

Goodwill is depreciated under FRS102 over a period of five years at a cost of £20,000 pa.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

20% on reducing balance

Computer equipment

-

33% on reducing balance

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 3 (2019 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st June 2019

and 31st May 2020

100,000

AMORTISATION

At 1st June 2019

60,000

Amortisation for year

20,000

At 31st May 2020

80,000

NET BOOK VALUE

At 31st May 2020

20,000

At 31st May 2019

40,000

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1st June 2019

and 31st May 2020

1,698

200

21,068

5,505

28,471

DEPRECIATION

At 1st June 2019

1,036

154

4,214

4,123

9,527

Charge for year

100

7

3,370

456

3,933

At 31st May 2020

1,136

161

7,584

4,579

13,460

NET BOOK VALUE

At 31st May 2020

562

39

13,484

926

15,011

At 31st May 2019

662

46

16,854

1,382

18,944

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.20

31.5.19

£

£

Trade debtors

17,086

10,260

Other debtors

2,775

-

19,861

10,260

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.20

31.5.19

£

£

Hire purchase contracts

4,064

4,064

Trade creditors

(1

)

10,877

Corporation Tax

18,535

18,460

Social security and other taxes

(3,452

)

(2,144

)

VAT

23,389

13,148

Pension contributions due

-

117

Directors' current accounts

6,993

374

Accruals

5,149

4,794

54,677

49,690

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.20

31.5.19

£

£

Hire purchase contracts

7,788

11,513

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.20

31.5.19

value:

£

£

1,000

Ordinary

£1.00

1,000

1,000

10.

RESERVES

Retained

earnings

£

At 1st June 2019

94,868

Profit for the year

52,284

Dividends

(65,000

)

At 31st May 2020

82,152