MIDLAND_SIGN_AND_LIGHTING - Accounts

MIDLAND SIGN AND LIGHTING LIMITED - Company Information

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Company Registration No. 04940671 (England and Wales)

MIDLAND SIGN AND LIGHTING LTD

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2015

MIDLAND SIGN AND LIGHTING LTD

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

MIDLAND SIGN AND LIGHTING LTD

ABBREVIATED BALANCE SHEET

AS AT

30 APRIL 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

50,676

47,238

Current assets

Stocks

36,648

Debtors

236,518

140,051

Cash at bank and in hand

273,243

176,699

Creditors: amounts falling due within one year

(269,993)

(197,216)

Net current assets/(liabilities)

3,250

(20,517)

Total assets less current liabilities

53,926

26,721

Creditors: amounts falling due after more than one year

(2,624)

(13,120)

Provisions for liabilities

(4,129)

(2,246)

47,173

11,355

Capital and reserves

Called up share capital

100

Profit and loss account

47,073

11,255

Shareholders' funds

47,173

11,355

MIDLAND SIGN AND LIGHTING LTD

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

30 APRIL 2015

- 2 -

For the financial year ended 30 April 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 8 June 2015

Mr S V Haynes

Mr R Lancashire

Director

Company Registration No. 04940671

MIDLAND SIGN AND LIGHTING LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 APRIL 2015

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

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

1.4

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.

1.5

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings Leasehold

Straight line over lease term (10 years)

Plant and machinery

25% reducing balance

Fixtures, fittings & equipment

25% reducing balance

Motor vehicles

25% reducing balance

1.6

Leasing and hire purchase commitments

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

MIDLAND SIGN AND LIGHTING LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 APRIL 2015

- 4 -

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 May 2014

60,000

115,232

175,232

Additions

16,326

At 30 April 2015

60,000

131,558

191,558

Depreciation

At 1 May 2014

60,000

67,995

127,995

Charge for the year

12,887

At 30 April 2015

60,000

80,882

140,882

Net book value

At 30 April 2015

50,676

At 30 April 2014

47,238

Share capital

2015

2014

Allotted, called up and fully paid

100 Ordinary shares of £1 each

100