Company Registration No. 07060159 (England and Wales)
MATHEW AND REDSELL LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2016
MATHEW AND REDSELL LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
MATHEW AND REDSELL LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 SEPTEMBER 2016
30 September 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
138,401
9,617
Current assets
Stocks
48,757
87,303
Debtors
5,520
-
54,277
87,303
Creditors: amounts falling due within one year
(215,760)
(92,780)
Net current liabilities
(161,483)
(5,477)
Total assets less current liabilities
(23,082)
4,140
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
(23,182)
4,040
Shareholders' funds
(23,082)
4,140
For the financial Period ended 30 September 2016 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 Period 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 23 February 2017
Mr S Redsell
Mr L Mathew
Director
Director
Company Registration No. 07060159
MATHEW AND REDSELL LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE PERIOD 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).
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 other than freehold land 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:
Land and buildings Freehold
0%
Land and buildings Leasehold
0%
Fixtures, fittings & equipment
25% on reducing balance basis
Motor vehicles
25% on reducing balance basis
1.5
The directors acknowledge that the financial position of the company as at 30 September 2016 is one of net liabilities. However, they have given their assurances that they consider the company will trade out of this and that their support will continue into the future.
2
Fixed assets
Tangible assets
£
Cost
At 1 July 2015
10,373
Additions
134,865
At 30 September 2016
145,238
Depreciation
At 1 July 2015
3,947
Charge for the period
2,890
At 30 September 2016
6,837
Net book value
At 30 September 2016
138,401
At 30 June 2015
9,617
MATHEW AND REDSELL LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2016
- 3 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 ordinary of £1 each
100
100