Mounsey Surveyors Ltd - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 07381949 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 October 2014

for

Mounsey Surveyors Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

R D Mounsey

SECRETARY:

Mrs E J Mounsey

REGISTERED OFFICE:

The Glades

Festival Way

Festival Park

Stoke-on-Trent

Staffordshire

ST1 5SQ

REGISTERED NUMBER:

07381949 (England and Wales)

FIXED ASSETS

Tangible assets

2

17,030

1,699

CURRENT ASSETS

Debtors

38,556

12,084

Cash at bank

22,762

38,845

61,318

50,929

CREDITORS

Amounts falling due within one year

3

44,028

25,597

NET CURRENT ASSETS

17,290

25,332

TOTAL ASSETS LESS CURRENT LIABILITIES

34,320

27,031

CREDITORS

Amounts falling due after more than one year

3

(8,750

)

-

PROVISIONS FOR LIABILITIES

(3,400

)

-

NET ASSETS

22,170

27,031

CAPITAL AND RESERVES

Called up share capital

4

10

10

Profit and loss account

22,160

27,021

SHAREHOLDERS' FUNDS

22,170

27,031

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 21 January 2015 and were signed by:

R D Mounsey - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on the assumption that the company is able to carry

on business as a going concern, which the director considers appropriate having regard to the

company's current and expected performance.

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance

with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover is stated net of VAT and trade discounts. Turnover from the supply of services represents

the value of services provided under contracts, to the extent that there is a right to consideration,

and is recorded at the value of the consideration due. Where a contract has only been partially

completed at the balance sheet date turnover represents the value of the service provided to date

based on a proportion of the total contract value. Where payments are received from customers in

advance of services provided, the amounts are recorded as Deferred Income and included as part of

Creditors due within one year.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

50% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33.33% on cost

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed

at the balance sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance

sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives.

Those held under finance leases are depreciated over their estimated useful lives or the lease term,

whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant

period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line

basis over the period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2013

19,467

Additions

21,996

At 31 October 2014

41,463

DEPRECIATION

At 1 November 2013

17,768

Charge for year

6,665

At 31 October 2014

24,433

NET BOOK VALUE

At 31 October 2014

17,030

At 31 October 2013

1,699

3.

CREDITORS

Creditors include an amount of £ 12,500 for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

10

Ordinary

£1

10

10

5.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2014

and 31 October 2013:

2014

2013

£

£

R D Mounsey

Balance outstanding at start of year

-

-

Amounts advanced

3,657

-

Amounts repaid

(3,657

)

-

Balance outstanding at end of year

-

-