Mix & Match Carpets Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 04934363 (England and Wales)

Abbreviated Accounts for the Year Ended 31 October 2014

for

Mix & Match Carpets Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

C L Bugbee

R J Bugbee

SECRETARY:

C L Bugbee

REGISTERED OFFICE:

Factory Lane West

Halstead

Essex

CO9 1EX

REGISTERED NUMBER:

04934363 (England and Wales)

ACCOUNTANTS:

Maurice Lake & Co Limited

Accountants and

Taxation Consultants

Maulak Chambers

The Centre

High Street

Halstead

Essex

CO9 2AJ

FIXED ASSETS

Intangible assets

2

10,000

20,000

Tangible assets

3

4,434

5,957

14,434

25,957

CURRENT ASSETS

Stocks

14,911

13,904

Debtors

71,880

68,247

86,791

82,151

CREDITORS

Amounts falling due within one year

101,205

107,977

NET CURRENT LIABILITIES

(14,414

)

(25,826

)

TOTAL ASSETS LESS CURRENT LIABILITIES

20

131

CAPITAL AND RESERVES

Called up share capital

4

3

2

Profit and loss account

17

129

SHAREHOLDERS' FUNDS

20

131

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 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 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 Board of Directors on 25 February 2015 and were signed on its behalf by:

C L Bugbee - 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 goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twelve years.

Tangible fixed assets

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

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on reducing balance

Stocks

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

for obsolete and slow moving items.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

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

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.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2013

and 31 October 2014

120,000

AMORTISATION

At 1 November 2013

100,000

Amortisation for year

10,000

At 31 October 2014

110,000

NET BOOK VALUE

At 31 October 2014

10,000

At 31 October 2013

20,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2013

and 31 October 2014

25,759

DEPRECIATION

At 1 November 2013

19,802

Charge for year

1,523

At 31 October 2014

21,325

NET BOOK VALUE

At 31 October 2014

4,434

At 31 October 2013

5,957

4.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

2014

2013

value:

£

£

2

Share capital 1

£1

2

2

1

Share capital 2

£1

1

-

3

2

The following shares were issued during the year for cash at par :

1 Ordinary B share of £1

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

31 October 2013:

2014

2013

£

£

C L Bugbee

Balance outstanding at start of year

39,946

39,587

Amounts repaid

(43

)

-

Balance outstanding at end of year

39,903

39,946

R J Bugbee

Balance outstanding at start of year

23,068

15,107

Amounts repaid

-

-

Balance outstanding at end of year

23,068

23,068