MB Diamond Drilling Ltd - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 07399756 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 December 2014

for

MB Diamond Drilling Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

M Barnard

REGISTERED OFFICE:

69 Knowl Piece

Wilbury Way

Hitchin

Hertfordshire

SG4 0TY

REGISTERED NUMBER:

07399756 (England and Wales)

ACCOUNTANTS:

Godfrey Laws & Co Limited

69 Knowl Piece

Wilbury Way

Hitchin

Hertfordshire

SG4 0TY

FIXED ASSETS

Tangible assets

2

68,849

28,730

CURRENT ASSETS

Debtors

248,491

161,846

Cash at bank and in hand

43,101

4,809

291,592

166,655

CREDITORS

Amounts falling due within one year

193,364

155,317

NET CURRENT ASSETS

98,228

11,338

TOTAL ASSETS LESS CURRENT LIABILITIES

167,077

40,068

PROVISIONS FOR LIABILITIES

13,770

5,746

NET ASSETS

153,307

34,322

CAPITAL AND RESERVES

Called up share capital

3

100

100

Profit and loss account

153,207

34,222

SHAREHOLDERS' FUNDS

153,307

34,322

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 24 April 2015 and were signed by:

M Barnard - 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.

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 etc

-

10% on cost

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.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2014

38,671

Additions

44,442

At 31 December 2014

83,113

DEPRECIATION

At 1 January 2014

9,941

Charge for year

4,323

At 31 December 2014

14,264

NET BOOK VALUE

At 31 December 2014

68,849

At 31 December 2013

28,730

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.14

31.12.13

value:

£

£

100

Ordinary

£1

100

100

4.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year dividends amounting to £75,000 were paid to the director (2013: £60,300)