Medway Security Distribution Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 04138201 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE PERIOD 1 FEBRUARY 2013 TO 31 JULY 2014

FOR

MEDWAY SECURITY DISTRIBUTION LIMITED

Page

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

3

FIXED ASSETS

Tangible assets

2

13,396

17,831

Investments

3

800

800

14,196

18,631

CURRENT ASSETS

Stocks

119,187

100,353

Debtors

328,719

273,629

Cash at bank and in hand

268,382

232,494

716,288

606,476

CREDITORS

Amounts falling due within one year

402,355

360,184

NET CURRENT ASSETS

313,933

246,292

TOTAL ASSETS LESS CURRENT LIABILITIES

328,129

264,923

PROVISIONS FOR LIABILITIES

2,301

3,059

NET ASSETS

325,828

261,864

CAPITAL AND RESERVES

Called up share capital

4

1,000

1,000

Profit and loss account

324,828

260,864

SHAREHOLDERS' FUNDS

325,828

261,864

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 July 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 13 March 2015 and were signed on its behalf by:

Mrs V Goodin - 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).

Preparation of consolidated financial statements

The financial statements contain information about Medway Security Distribution Limited as an individual

company and do not contain consolidated financial information as the parent of a group. The company has

taken the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial

statements.

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as

a small company.

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

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

-

33% on cost

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Stock

Stock is valued at the lower of cost and net realisable value.

Deferred tax

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the

treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been

discounted.

Leasing

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

period of the lease.

Revenue recognition

Revenue comprises the fair value for the sale of goods and services to outside customers, excluding VAT, and is

recognised when the significant risks and rewards of ownership have been transferred to a third party.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 February 2013

73,566

Additions

6,340

At 31 July 2014

79,906

DEPRECIATION

At 1 February 2013

55,735

Charge for period

10,775

At 31 July 2014

66,510

NET BOOK VALUE

At 31 July 2014

13,396

At 31 January 2013

17,831

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 February 2013

and 31 July 2014

800

NET BOOK VALUE

At 31 July 2014

800

At 31 January 2013

800

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Medway Security Distribution (Belfast) Limited

Nature of business: Distribution of security systems

%

Class of shares:

holding

Ordinary 'B' shares

100.00

31/7/14

31/7/13

£

£

Aggregate capital and reserves

55,599

1,366

Profit for the year/period

144,514

8,875

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

1,000

Ordinary shares

£1

1,000

1,000

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the period ended 31 July 2014 and the year

ended 31 January 2013:

2014

2013

£

£

Mr M R Goodin

Balance outstanding at start of period

-

(496

)

Amounts advanced

3,613

171,253

Amounts repaid

(2,154

)

(170,757

)

Balance outstanding at end of period

1,459

-

Mrs V Goodin

Balance outstanding at start of period

-

(1,899

)

Amounts advanced

1,509

3,962

Amounts repaid

(752

)

(2,063

)

Balance outstanding at end of period

757

-

The above loans are unsecured, repayable on demand with interest calculated at 4% to 5 April 2014 and 3.25%

thereafter on a daily basis on all overdrawn loan balances.

The maximum overdrawn loan balances during the period were £1,459 (2013: £nil) due from Mr M R Goodin

and £1,383 (2013: £nil) due from Mrs V Goodin. The loans due from Mr M R Goodin and Mrs V Goodin were

repaid after the period end.