Company Registration No. 04805915 (England and Wales)
MILTON KEYNES FENCING LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2016
MILTON KEYNES FENCING LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
MILTON KEYNES FENCING LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
19,495
23,389
Current assets
Stocks
20,000
20,000
Debtors
56,593
57,509
Cash at bank and in hand
13,001
10,603
89,594
88,112
Creditors: amounts falling due within one year
(54,674)
(92,959)
Net current assets/(liabilities)
34,920
(4,847)
Total assets less current liabilities
54,415
18,542
Creditors: amounts falling due after more than one year
(48,131)
-
6,284
18,542
Capital and reserves
Called up share capital
3
100
100
Share premium account
409
409
Profit and loss account
5,775
18,033
Shareholder's funds
6,284
18,542
For the financial year ended 31 March 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 member has 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 13 December 2016
Mr K Brooks
Director
Company Registration No. 04805915
MILTON KEYNES FENCING LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 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).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
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% on reducing balance
Motor vehicles
25% on reducing balance
1.5
Leasing and hire purchase commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
1.6
Stock
Stock is valued at the lower of cost and net realisable value.
MILTON KEYNES FENCING LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2016
- 3 -
2
Fixed assets
Tangible assets
£
Cost
At 1 April 2015
43,895
Additions
11,146
Disposals
(10,500)
At 31 March 2016
44,541
Depreciation
At 1 April 2015
20,506
Charge for the year
4,540
At 31 March 2016
25,046
Net book value
At 31 March 2016
19,495
At 31 March 2015
23,389
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 of £1 each
100
100