MJS Networks Ltd - Period Ending 2015-03-31

Registration number: 07263959

MJS Networks Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2015
 

HML Davies Limited
Chartered Certified Accountants
9 Riverside
Waters Meeting Road
Bolton
Bolton
BL1 8TU

MJS Networks Ltd
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

MJS Networks Ltd
(Registration number: 07263959)
Abbreviated Balance Sheet at 31 March 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets		2			8,220			3,692
Current assets
Debtors					2,419			16,400
Cash at bank and in hand					123,820			123,115
					126,239			139,515
Creditors: Amounts falling due within one year					(18,905)			(24,967)
Net current assets					107,334			114,548
Net assets					115,554			118,240
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					115,454			118,140
Shareholders' funds					115,554			118,240

For the year ending 31 March 2015 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 15 June 2015 and signed on its behalf by:

......................................... Mr M J Smith Director

......................................... Ms J Howard Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

MJS Networks Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Office equipment	20% reducing balance

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 April 2014		4,529			4,529
Additions		6,583			6,583
At 31 March 2015		11,112			11,112
Depreciation
At 1 April 2014		837			837
Charge for the year		2,055			2,055
At 31 March 2015		2,892			2,892
Net book value
At 31 March 2015		8,220			8,220
At 31 March 2014		3,692			3,692

Page 2

MJS Networks Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary of £1 each		100			100			100			100

Page 3