MAT Enterprises (Kent) Limited - Period Ending 2014-12-31

Registration number: 04655283

MAT Enterprises (Kent) Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2014
 

MAT Enterprises (Kent) Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

MAT Enterprises (Kent) Limited
(Registration number: 04655283)
Abbreviated Balance Sheet at 31 December 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets		2			158			238
Current assets
Debtors					6,436			2,406
Cash at bank and in hand					564			1,929
					7,000			4,335
Creditors: Amounts falling due within one year					(9,044)			(5,622)
Net current liabilities					(2,044)			(1,287)
Net liabilities					(1,886)			(1,049)
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					(1,986)			(1,149)
Shareholders' deficit					(1,886)			(1,049)

For the year ending 31 December 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 8 April 2015 and signed on its behalf by:
 

 

.........................................
M A Taylor
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

MAT Enterprises (Kent) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chageable, net of value added tax, in respect of the sale of goods and services to customers.

Revenue recognition

The business recognises revenue under an assignment for a customer when and to the extent that it obtains the right to consideration in exchange for its performance. At that time, the business recognises a new asset in the form of a debtor.

Depreciation

Depreciation is provided on tangible fixed assets as to write off the cost or valuation, less any residual value, over their expected useful economic life as follows:

Office equipment	20% per annum, straight line

Deferred tax

Deferred tax is provided in full on timing differences which represent a liability at the balance sheet date, at rates expected to apply when they crystallise based on current tax rates and law. Timing differences arise from the inclusion of items of income or expenditure in tax computations in periods different from those in which they are included in the financial statements. Deferred tax assets are recognised only to the extent that it is likely that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax liabilities and, where recognised, assets are not discounted.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 January 2014		398			398
At 31 December 2014		398			398
Depreciation
At 1 January 2014		160			160
Charge for the year		80			80
At 31 December 2014		240			240
Net book value
At 31 December 2014		158			158
At 31 December 2013		238			238

Page 2

MAT Enterprises (Kent) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2014
......... continued

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary shares of £ 1 each		100			100			100			100

4	Advances to director

Mr M A Taylor, a director, was advanced £4,876 by the company during the year ended 31 December 2014. Mr Taylor repaid £3,938 to the company and at 31 December the director's loan account of Mr Taylor had a debit balance of £938. Advances to Mr Taylor and the debit balance on his director's loan account are unsecured, interest-free and repayable on the company's demand.

Page 3