Financial Statements
Company Registration No. 05098284 (England and Wales)
MEZZEM SOLUTIONS LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015
Financial Statements
MEZZEM SOLUTIONS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
Financial Statements
MEZZEM SOLUTIONS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2015
31 March 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
4,987
6,650
Current assets
Stocks
1,241
850
Debtors
3,094
5,032
Cash at bank and in hand
12,741
10,359
17,076
16,241
Creditors: amounts falling due within one year
(19,952)
(22,293)
Net current liabilities
(2,876)
(6,052)
Total assets less current liabilities
2,111
598
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
2,011
498
Shareholders' funds
2,111
598
For the financial year ended 31 March 2015 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 financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their 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 4 December 2015
M Blunden
Director
Company Registration No. 05098284
Financial Statements
MEZZEM SOLUTIONS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015
- 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 April 2008).
The company has net current liabilities, but significant support has been given by the Directors (see the Transactions with directors note to the accounts). On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis.
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 .
.
1.4
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.
1.5
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
25% reducing balance
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 April 2014 & at 31 March 2015
48,000
23,742
71,742
Depreciation
At 1 April 2014
48,000
17,092
65,092
Charge for the year
-
1,663
1,663
At 31 March 2015
48,000
18,755
66,755
Net book value
At 31 March 2015
-
4,987
4,987
At 31 March 2014
-
6,650
6,650
Financial Statements
MEZZEM SOLUTIONS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2015
- 3 -
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
100 Ordinary of £1 each
100
100
4
Transactions with directors
At the year end, within other creditors, was an amount of £6,754 (2014: £7,774) due to E Blunden, the director of the company. The loan is interest free.