Middlesex Business Services Ltd 31/12/2017 iXBRL

Middlesex Business Services Ltd 31/12/2017 iXBRL

MIDDLESEX BUSINESS SERVICES LTD - Company Information

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Company registration number: 09909629
Middlesex Business Services Ltd
Unaudited filleted financial statements
31 December 2017
Middlesex Business Services Ltd
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Middlesex Business Services Ltd
Directors and other information
Director Mr John Michael Maguire
Company number 09909629
Registered office 3 Lincoln Court
226 Willesden Lane
London
NW2 5RG
Accountants Reza Samii Chartered Accountant
19 Cornerways
1 Daylesford Avenue
London
SW15 5QP
Middlesex Business Services Ltd
Chartered accountants report to the director on the preparation of the
unaudited statutory financial statements of Middlesex Business Services Ltd
Year ended 31 December 2017
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Middlesex Business Services Ltd for the year ended 31 December 2017 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/ regulations-standards-and-guidance/.
Our work has been undertaken in accordance with the ICAEW Technical Release 07/16 AAF.
Reza Samii Chartered Accountant
19 Cornerways
1 Daylesford Avenue
London
SW15 5QP
27 September 2018
Middlesex Business Services Ltd
Statement of financial position
31 December 2017
31/12/17 31/12/16
Note £ £ £ £
Current assets
Debtors 4 38,839 -
Cash at bank and in hand 110,649 5,337
_______ _______
149,488 5,337
Creditors: amounts falling due
within one year 5 ( 82,404) ( 5,327)
_______ _______
Net current assets 67,084 10
_______ _______
Total assets less current liabilities 67,084 10
_______ _______
Net assets 67,084 10
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 66,984 ( 90)
_______ _______
Shareholders funds 67,084 10
_______ _______
For the 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.
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 their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 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 comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 27 September 2018 , and are signed on behalf of the board by:
Mr John Michael Maguire
Director
Company registration number: 09909629
Middlesex Business Services Ltd
Notes to the financial statements
Year ended 31 December 2017
1. General information
The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is 3 Lincoln Court, 226 Willesden Lane, London, NW2 5RG.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
4. Debtors
31/12/17 31/12/16
£ £
Other debtors 38,839 -
_______ _______
5. Creditors: amounts falling due within one year
31/12/17 31/12/16
£ £
Trade creditors 45,276 1,437
Corporation tax 31,793 -
Other creditors 5,335 3,890
_______ _______
82,404 5,327
_______ _______
Included in "other creditors" is the director's loan balance of £3,985 (2016: £3,800) which is unsecured, interest free and repayable on demand.
6. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
Year ended 31/12/17
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Mr John Michael Maguire ( 3,800) 815 ( 1,000) ( 3,985)
_______ _______ _______ _______
Period ended 31/12/16
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Mr John Michael Maguire - ( 3,800) - ( 3,800)
_______ _______ _______ _______