Molini Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05601231 (England and Wales)

Molini Limited

Unaudited Financial Statements for the Year Ended 31 March 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A S W Henry

Mrs L M Henry

SECRETARY:

Mrs L M Henry

REGISTERED OFFICE:

The White House

2 Meadrow

Godalming

Surrey

GU7 3HN

BUSINESS ADDRESS:

15 Compton Pauncefoot

Yeovil

Somerset

BA22 7EN

REGISTERED NUMBER:

05601231 (England and Wales)

ACCOUNTANTS:

Hughes Waddell

The White House

2 Meadrow

Godalming

Surrey

GU7 3HN

FIXED ASSETS

Tangible assets

4

2,199

1,131

CURRENT ASSETS

Debtors

5

14,795

9,818

Cash at bank

88

198

14,883

10,016

CREDITORS

Amounts falling due within one year

6

17,062

11,133

NET CURRENT LIABILITIES

(2,179

)

(1,117

)

TOTAL ASSETS LESS CURRENT LIABILITIES

20

14

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

18

12

SHAREHOLDERS' FUNDS

20

14

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 11 December 2019 and were signed on its behalf by:

A S W Henry - Director

1.	STATUTORY INFORMATION

Molini Limited is a private company, limited by shares , registered in England and Wales. The company's registered

number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% on reducing balance

Bicycle

-

33% on reducing balance

Computer equipment

-

20% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent

that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively

enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in

which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted

or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be

recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2018 - NIL).

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

Bicycle

equipment

Totals

£

£

£

£

COST

At 1 April 2018

4,695

850

17,570

23,115

Additions

1,624

-

-

1,624

At 31 March 2019

6,319

850

17,570

24,739

DEPRECIATION

At 1 April 2018

4,281

815

16,888

21,984

Charge for year

83

12

461

556

At 31 March 2019

4,364

827

17,349

22,540

NET BOOK VALUE

At 31 March 2019

1,955

23

221

2,199

At 31 March 2018

414

35

682

1,131

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade debtors

10,188

6,923

Section 455 tax

1,880

1,880

Director's loan

2,727

1,015

14,795

9,818

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade creditors

2,727

2,962

Taxation and social security

12,559

4,121

Other creditors

1,776

4,050

17,062

11,133

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2019 and 31 March 2018:

31.3.19

31.3.18

£

£

A S W Henry

Balance outstanding at start of year

1,015

8,723

Amounts advanced

47,733

31,699

Amounts repaid

(46,021

)

(39,407

)

Balance outstanding at end of year

2,727

1,015