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No description of principal activity
2019-07-01
Sage Accounts Production Advanced 2020 - FRS102_2019
98,478
98,268
210
98,478
210
xbrli:pure
xbrli:shares
iso4217:GBP
03811929
2019-07-01
2020-06-30
03811929
2020-06-30
03811929
2019-06-30
03811929
2018-07-01
2019-06-30
03811929
2019-06-30
03811929
core:PlantMachinery
2019-07-01
2020-06-30
03811929
bus:OrdinaryShareClass1
2019-07-01
2020-06-30
03811929
bus:OrdinaryShareClass2
2019-07-01
2020-06-30
03811929
bus:Director2
2019-07-01
2020-06-30
03811929
core:PlantMachinery
2019-06-30
03811929
core:PlantMachinery
2020-06-30
03811929
core:WithinOneYear
2020-06-30
03811929
core:WithinOneYear
2019-06-30
03811929
core:ShareCapital
2020-06-30
03811929
core:ShareCapital
2019-06-30
03811929
core:SharePremium
2020-06-30
03811929
core:SharePremium
2019-06-30
03811929
core:RetainedEarningsAccumulatedLosses
2020-06-30
03811929
core:RetainedEarningsAccumulatedLosses
2019-06-30
03811929
core:PlantMachinery
2019-06-30
03811929
bus:SmallEntities
2019-07-01
2020-06-30
03811929
bus:AuditExemptWithAccountantsReport
2019-07-01
2020-06-30
03811929
bus:FullAccounts
2019-07-01
2020-06-30
03811929
bus:SmallCompaniesRegimeForAccounts
2019-07-01
2020-06-30
03811929
bus:PrivateLimitedCompanyLtd
2019-07-01
2020-06-30
03811929
bus:OrdinaryShareClass1
2020-06-30
03811929
bus:OrdinaryShareClass1
2019-06-30
03811929
bus:OrdinaryShareClass2
2020-06-30
03811929
bus:OrdinaryShareClass2
2019-06-30
03811929
bus:AllOrdinaryShares
2020-06-30
03811929
bus:AllOrdinaryShares
2019-06-30
COMPANY REGISTRATION NUMBER:
03811929
MILLEPEDE (MARKETING) LIMITED
|
|
FILLETED UNAUDITED FINANCIAL STATEMENTS
|
|
MILLEPEDE (MARKETING) LIMITED
|
|
STATEMENT OF FINANCIAL POSITION
|
|
30 June 2020
Fixed assets
Current assets
Stocks
|
21,143
|
|
14,048
|
Debtors
|
6
|
53,957
|
|
34,144
|
Cash at bank and in hand
|
4,597
|
|
1,953
|
|
--------
|
|
--------
|
|
79,697
|
|
50,145
|
|
|
|
|
|
Creditors: amounts falling due within one year
|
7
|
11,191
|
|
25,376
|
|
--------
|
|
--------
|
Net current assets
|
|
68,506
|
24,769
|
|
|
--------
|
--------
|
Total assets less current liabilities
|
|
68,506
|
24,979
|
|
|
--------
|
--------
|
Net assets
|
|
68,506
|
24,979
|
|
|
--------
|
--------
|
|
|
|
|
|
Capital and reserves
Called up share capital
|
8
|
|
8,710
|
8,710
|
Share premium account
|
|
506,703
|
506,703
|
Profit and loss account
|
|
(
446,907)
|
(
490,434)
|
|
|
---------
|
---------
|
Shareholders funds
|
|
68,506
|
24,979
|
|
|
---------
|
---------
|
|
|
|
|
|
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 Section 1A of 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 income and retained earnings has not been delivered.
For the year ending 30 June 2020 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 his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
MILLEPEDE (MARKETING) LIMITED
|
|
STATEMENT OF FINANCIAL POSITION (continued)
|
|
30 June 2020
These financial statements were approved by the
board of directors
and authorised for issue on
15 June 2021
, and are signed on behalf of the board by:
Mr J Butterworth
|
|
Director
|
|
|
|
Company registration number:
03811929
MILLEPEDE (MARKETING) LIMITED
|
|
NOTES TO THE FINANCIAL STATEMENTS
|
|
YEAR ENDED 30 JUNE 2020
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Old Mill, Bliworth Hill Farm , Stoke Road, Blisworth, Northampton, Northants, NN7 3DB.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on a going concern basis. The company has made a profit for the year. This is largely due to backdated items being invoiced to an associated company based in the USA. The company has relied on the support of its creditors to support the working capital by providing goods and services on credit terms. Should this support be withdrawn or unavailable, the company would be unable to trade and would be required to close. This would result in the company's assets being reduced to their recoverable amounts and additional costs incurred to fund the closure.
Revenue recognition
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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Fixtures & fittings
|
-
|
33% straight line
|
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4.
Tax on profit/(loss)
Reconciliation of tax income
The tax assessed on the profit/(loss) on ordinary activities for the year is lower than (2019: the same as) the
standard rate of corporation tax in the UK
of
19
% (2019:
19
%).
|
2020
|
2019
|
|
£
|
£
|
Profit/(loss) on ordinary activities before taxation
|
43,527
|
(
20,530)
|
|
--------
|
--------
|
Profit/(loss) on ordinary activities by rate of tax
|
8,271
|
–
|
Effect of capital allowances and depreciation
|
4
|
–
|
Utilisation of tax losses
|
(
8,275)
|
–
|
|
--------
|
--------
|
Tax on profit/(loss)
|
–
|
–
|
|
--------
|
--------
|
|
|
|
5.
Tangible assets
|
Plant and machinery
|
|
£
|
Cost
|
|
At 1 July 2019 and 30 June 2020
|
98,478
|
|
--------
|
Depreciation
|
|
At 1 July 2019
|
98,268
|
Charge for the year
|
210
|
|
--------
|
At 30 June 2020
|
98,478
|
|
--------
|
Carrying amount
|
|
At 30 June 2020
|
–
|
|
--------
|
At 30 June 2019
|
210
|
|
--------
|
|
|
6.
Debtors
|
2020
|
2019
|
|
£
|
£
|
Trade debtors
|
1,197
|
–
|
Other debtors
|
52,760
|
34,144
|
|
--------
|
--------
|
|
53,957
|
34,144
|
|
--------
|
--------
|
|
|
|
7.
Creditors:
amounts falling due within one year
|
2020
|
2019
|
|
£
|
£
|
Trade creditors
|
4,850
|
8,307
|
Other creditors
|
6,341
|
17,069
|
|
--------
|
--------
|
|
11,191
|
25,376
|
|
--------
|
--------
|
|
|
|
8.
Called up share capital
Issued, called up and fully paid
|
2020
|
2019
|
|
No.
|
£
|
No.
|
£
|
Ordinary 'A' shares of £ 1 each
|
6,630
|
6,630
|
6,630
|
6,630
|
Ordinary 'B' shares of £ 1 each
|
2,080
|
2,080
|
2,080
|
2,080
|
|
-------
|
-------
|
-------
|
-------
|
|
8,710
|
8,710
|
8,710
|
8,710
|
|
-------
|
-------
|
-------
|
-------
|
|
|
|
|
|
The holders of 'A' and 'B' shares receive the same rights and rank pari passu in all respects regarding dividend income and any distribution on winding up the company. However, the Articles of the company contain certain restrictions on the appointment of directors and the issue or transfer of shares. In all other matters they have equal voting rights.