Management Services (Wakefield) Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 04588378 (England and Wales)

Abbreviated Accounts for the Year Ended 30 June 2014

for

Management Services (Wakefield) Limited

Page

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

2

FIXED ASSETS

Tangible assets

2

1,470,642

1,120,435

Investments

3

4

4

1,470,646

1,120,439

CURRENT ASSETS

Stocks

113,272

135,943

Debtors

648,566

604,447

Cash at bank

28,526

410,720

790,364

1,151,110

CREDITORS

Amounts falling due within one year

4

1,987,494

1,925,187

NET CURRENT LIABILITIES

(1,197,130

)

(774,077

)

TOTAL ASSETS LESS CURRENT LIABILITIES

273,516

346,362

CREDITORS

Amounts falling due after more than one year

4

836,304

889,487

NET LIABILITIES

(562,788

)

(543,125

)

CAPITAL AND RESERVES

Called up share capital

5

5

5

Profit and loss account

(562,793

)

(543,130

)

SHAREHOLDERS' FUNDS

(562,788

)

(543,125

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 23 March 2015 and were signed by:

Mr S P Hirst - Director

1.	ACCOUNTING POLICIES

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 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2013

1,308,890

Additions

526,292

Disposals

(137,978

)

At 30 June 2014

1,697,204

DEPRECIATION

At 1 July 2013

188,455

Charge for year

76,660

Eliminated on disposal

(38,553

)

At 30 June 2014

226,562

NET BOOK VALUE

At 30 June 2014

1,470,642

At 30 June 2013

1,120,435

3.	FIXED ASSET INVESTMENTS

The Company owns 3 class c shares in Heritage Holdings Ltd at a cost of £3 along with the whole

of the ordinary share capital in TIMS Investments Ltd at a cost of £1.

4.

CREDITORS

Creditors include an amount of £ 937,532 (30.6.13 - £ 1,116,942 ) for which security has been

given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.14

30.6.13

value:

£

£

5

Ordinary shares

£1

5

5

6.	RELATED PARTY DISCLOSURES