Abbreviated Company Accounts - MAINLAND IMPORT EXPORT LIMITED

MAINLAND IMPORT EXPORT LIMITED - Company Information

02252167 MAINLAND IMPORT EXPORT LIMITED 2014-05-31 false 2013-06-01 2014-05-31 true 02252167 2013-06-01 2014-05-31 02252167 2014-05-31 02252167 2013-05-31 02252167 uk-gaap-cd-bus:Director1 2013-06-01 2014-05-31 02252167 uk-gaap-cd-bus:Director2 2013-06-01 2014-05-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-06-01 2014-05-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-05-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-05-31 iso4217:GBP shares

Registered Number 02252167

MAINLAND IMPORT EXPORT LIMITED

Abbreviated Accounts

31 May 2014

MAINLAND IMPORT EXPORT LIMITED Registered Number 02252167

Abbreviated Balance Sheet as at 31 May 2014

	Notes	2014	2013
		£	£
Fixed assets
Tangible assets	2	1,095	1,288
		1,095	1,288
Current assets
Stocks		89,500	64,500
Debtors		3,917	5,373
Cash at bank and in hand		15,054	28,978
		108,471	98,851
Creditors: amounts falling due within one year		(72,868)	(73,290)
Net current assets (liabilities)		35,603	25,561
Total assets less current liabilities		36,698	26,849
Total net assets (liabilities)		36,698	26,849
Capital and reserves
Called up share capital	3	2	2
Profit and loss account		36,696	26,847
Shareholders' funds		36,698	26,849

For the year ending 31 May 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 11 February 2015

And signed on their behalf by:
S. Golparvar, Director

MAINLAND IMPORT EXPORT LIMITED Registered Number 02252167

Notes to the Abbreviated Accounts for the period ended 31 May 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover comprises sales during the year, net of Value Added Tax where applicable and includes sums received in relation to an insurance claim.

Tangible assets depreciation policy
Tangible fixed assets are stated at cost less depreciation.

Depreciation is provided so as to write off the cost of fixed assets, less their estimated residual value, over their anticipated useful lives at the following rate:-

Office equipment - 15% on reducing balance basis

Other accounting policies
Stock
Stock is valued at the lower of cost and estimated residual value.

2Tangible fixed assets

	£
Cost
At 1 June 2013	3,556
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 May 2014	3,556
Depreciation
At 1 June 2013	2,268
Charge for the year	193
On disposals	-
At 31 May 2014	2,461
Net book values
At 31 May 2014	1,095
At 31 May 2013	1,288

3Called Up Share Capital
Allotted, called up and fully paid:

	2014 £	2013 £
2 Ordinary shares of £1 each	2	2