Abbreviated Company Accounts - MIKE SPEED BUILDERS LIMITED

MIKE SPEED BUILDERS LIMITED - Company Information

04446960 MIKE SPEED BUILDERS LIMITED 2014-07-31 false 2013-08-01 2014-07-31 true 04446960 2013-08-01 2014-07-31 04446960 2014-07-31 04446960 2013-07-31 04446960 uk-gaap-cd-bus:Director1 2013-08-01 2014-07-31 04446960 uk-gaap-cd-bus:Director2 2013-08-01 2014-07-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-08-01 2014-07-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-07-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-07-31 iso4217:GBP shares

Registered Number 04446960

MIKE SPEED BUILDERS LIMITED

Abbreviated Accounts

31 July 2014

MIKE SPEED BUILDERS LIMITED Registered Number 04446960

Abbreviated Balance Sheet as at 31 July 2014

	Notes	2014	2013
		£	£
Fixed assets
Tangible assets	2	3,504	4,497
		3,504	4,497
Current assets
Stocks		440	480
Debtors		24,181	49,103
Cash at bank and in hand		96,893	93,089
		121,514	142,672
Creditors: amounts falling due within one year		(107,462)	(116,820)
Net current assets (liabilities)		14,052	25,852
Total assets less current liabilities		17,556	30,349
Provisions for liabilities		(510)	(667)
Total net assets (liabilities)		17,046	29,682
Capital and reserves
Called up share capital	3	100	100
Profit and loss account		16,946	29,582
Shareholders' funds		17,046	29,682

For the year ending 31 July 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 21 April 2015

And signed on their behalf by:
Mr. M.T.W. Speed, Director

MIKE SPEED BUILDERS LIMITED Registered Number 04446960

Notes to the Abbreviated Accounts for the period ended 31 July 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 represents amounts chargeable to customers for goods and services provided during the period, excluding value added tax and trade discounts.

Tangible assets depreciation policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Plant and machinery 15% of net book value
Motor vehicles 25% of net book value

Valuation information and policy
Stocks
Stock is valued at the lower of cost and net realisable value.

Deferred taxation
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.

2Tangible fixed assets

	£
Cost
At 1 August 2013	24,555
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 July 2014	24,555
Depreciation
At 1 August 2013	20,058
Charge for the year	993
On disposals	-
At 31 July 2014	21,051
Net book values
At 31 July 2014	3,504
At 31 July 2013	4,497

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

	2014 £	2013 £
100 Ordinary shares of £1 each	100	100