Company Registration No. 00470050 (England and Wales)
MAYSTON TAYLOR AND COMPANY LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2016
MAYSTON TAYLOR AND COMPANY LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
MAYSTON TAYLOR AND COMPANY LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 SEPTEMBER 2016
30 September 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
2,012
1,220
Current assets
Debtors
2,656
2,003
Cash at bank and in hand
601
1,095
3,257
3,098
Creditors: amounts falling due within one year
(285,573)
(267,524)
Net current liabilities
(282,316)
(264,426)
Total assets less current liabilities
(280,304)
(263,206)
Capital and reserves
Called up share capital
3
13,500
13,500
Other reserves
4,833
4,833
Profit and loss account
(298,637)
(281,539)
Shareholders' funds
(280,304)
(263,206)
For the financial year ended 30 September 2016 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.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 29 June 2017
J D Mayston-Taylor
Director
Company Registration No. 00470050
MAYSTON TAYLOR AND COMPANY LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
The company meets its day to day working capital requirements through a director's loan account which, at the end of the year, amounted to £278,615.
The directors have confirmed their intention to support the company for at least 12 months from the date of the approval of these accounts. On that basis, the directors consider that the going concern basis continues to be appropriate.
1.2
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.3
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Fixtures, fittings & equipment
15% per annum on cost
Motor vehicles
30% per annum on written down value
2
Fixed assets
Tangible assets
£
Cost
At 1 October 2015
6,242
Additions
1,832
Disposals
(2,400)
At 30 September 2016
5,674
Depreciation
At 1 October 2015
5,022
On disposals
(1,886)
Charge for the year
526
At 30 September 2016
3,662
Net book value
At 30 September 2016
2,012
At 30 September 2015
1,220
MAYSTON TAYLOR AND COMPANY LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2016
- 3 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
13,500 Ordinary shares of £1 each
13,500
13,500