Mansbridge and Balment (Plymouth) Limited - Period Ending 2017-12-31

Registration number: 04665429

Mansbridge and Balment (Plymouth) Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2017

Houndiscombe Consultants Limited
T/A Condy Mathias Chartered Accountants
6 Houndiscombe Road
Plymouth
Devon
PL4 6HH

Mansbridge and Balment (Plymouth) Limited

Contents

Balance Sheet	1 to 2
Notes to the Financial Statements	3 to 7

Mansbridge and Balment (Plymouth) Limited

(Registration number: 04665429)
Balance Sheet as at 31 December 2017

	Note	2017 £	2016 £
Fixed assets
Tangible assets	4	43,160	26,069
Current assets
Debtors	5	151,173	106,108
Investments	6	400	400
Cash at bank and in hand		502	68,255
		152,075	174,763
Creditors: Amounts falling due within one year	7	(167,211)	(139,864)
Net current (liabilities)/assets		(15,136)	34,899
Total assets less current liabilities		28,024	60,968
Provisions for liabilities		(3,949)	(2,826)
Net assets		24,075	58,142
Capital and reserves
Called up share capital		5,001	5,001
Capital redemption reserve		45,000	45,000
Profit and loss account		(25,926)	8,141
Total equity		24,075	58,142

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

Page 1

Mansbridge and Balment (Plymouth) Limited

(Registration number: 04665429)
Balance Sheet as at 31 December 2017

For the financial year ending 31 December 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account and Directors' Report has been taken.

Approved and authorised by the Board on 2 July 2018 and signed on its behalf by:
 

Mr Darren James Lawson
Director

Mrs Deborah Jane Lawson
Company secretary and director

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

Page 2

Mansbridge and Balment (Plymouth) Limited

Notes to the Financial Statements for the Year Ended 31 December 2017

1	General information

The company is a private company limited by share capital, incorporated in UK.

The address of its registered office is:
6 Mannamead Road
Plymouth
Devon
PL4 7AA

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance
These financial statements have been prepared using the historic cost convention except that as disclosed in the accounting policies certain times are shown at fair value. The financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - The Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Page 3

Mansbridge and Balment (Plymouth) Limited

Notes to the Financial Statements for the Year Ended 31 December 2017

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Leasehold Property	8 Years Straight Line
Improvements to Property	20% Reducing Balance
Fixture & Fittings	20% Reducing Balance
Motor Vehicles	25% Reducing Balance
Office Equipment	25% Reducing Balance

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 30 (2016 - 28).

Page 4

Mansbridge and Balment (Plymouth) Limited

Notes to the Financial Statements for the Year Ended 31 December 2017

4	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Motor vehicles  £	Property improvements  £	Total £
Cost or valuation
At 1 January 2017	50,000	90,453	1,400	86,410	228,263
Additions	-	4,366	21,800	4,005	30,171
At 31 December 2017	50,000	94,819	23,200	90,415	258,434
Depreciation
At 1 January 2017	50,000	73,080	1,376	77,738	202,194
Charge for the year	-	5,088	5,456	2,536	13,080
At 31 December 2017	50,000	78,168	6,832	80,274	215,274
Carrying amount
At 31 December 2017	-	16,651	16,368	10,141	43,160
At 31 December 2016	-	17,373	24	8,672	26,069

Page 5

Mansbridge and Balment (Plymouth) Limited

Notes to the Financial Statements for the Year Ended 31 December 2017

5

Debtors

	2017 £	2016 £
Trade debtors	65,050	56,090
Other debtors	86,123	50,018
	151,173	106,108

6	Current asset investments

	2017 £	2016 £
Other investments	400	400

7

Creditors

Creditors: amounts falling due within one year

	Note	2017 £	2016 £
Due within one year
Bank loans and overdrafts		6,411	-
Trade creditors		19,582	15,999
Amounts owed to group undertakings and undertakings in which the company has a participating interest	8	101,006	65,708
Taxation and social security		30,223	38,546
Other creditors		9,989	19,611
		167,211	139,864

Page 6

Mansbridge and Balment (Plymouth) Limited

Notes to the Financial Statements for the Year Ended 31 December 2017

8	Related party transactions

Other transactions with directors

During the year the company made advances totalling £41,407 to the directors which were outstanding at the year end. Interest is charged at HMRC stated rates. The loan is repayable on demand.

Page 7