Abbreviated Company Accounts - MGB CATERING EQUIPMENT SUPPLIERS LIMITED

MGB CATERING EQUIPMENT SUPPLIERS LIMITED - Company Information

04947987 MGB CATERING EQUIPMENT SUPPLIERS LIMITED 2014-12-31 false 2014-01-01 2014-12-31 true 04947987 2014-01-01 2014-12-31 04947987 2014-12-31 04947987 2013-12-31 04947987 uk-gaap-cd-bus:Director1 2014-01-01 2014-12-31 04947987 uk-gaap-cd-bus:Director2 2014-01-01 2014-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-01-01 2014-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-12-31 uk-gaap-cd-bus:OrdinaryShareClass2 2014-01-01 2014-12-31 uk-gaap-cd-bus:OrdinaryShareClass2 2014-12-31 uk-gaap-cd-bus:OrdinaryShareClass2 2013-12-31 iso4217:GBP shares

Registered Number 04947987

MGB CATERING EQUIPMENT SUPPLIERS LIMITED

Abbreviated Accounts

31 December 2014

MGB CATERING EQUIPMENT SUPPLIERS LIMITED Registered Number 04947987

Abbreviated Balance Sheet as at 31 December 2014

	Notes	2014	2013
		£	£
Fixed assets
Tangible assets	2	43,072	27,726
		43,072	27,726
Current assets
Stocks		1,000	1,000
Debtors		893,970	177,333
Cash at bank and in hand		1	2,004
		894,971	180,337
Creditors: amounts falling due within one year		(616,610)	(161,949)
Net current assets (liabilities)		278,361	18,388
Total assets less current liabilities		321,433	46,114
Provisions for liabilities		(5,200)	(2,000)
Total net assets (liabilities)		316,233	44,114
Capital and reserves
Called up share capital	3	5	5
Profit and loss account		316,228	44,109
Shareholders' funds		316,233	44,114

For the year ending 31 December 2014 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 25 June 2015

And signed on their behalf by:
Mr B Felthouse, Director

MGB CATERING EQUIPMENT SUPPLIERS LIMITED Registered Number 04947987

Notes to the Abbreviated Accounts for the period ended 31 December 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

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

Tangible assets depreciation policy
Tangible fixed asset 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:

Leasehold improvements - 20% straight line
Plant and machinery - 25% reducing balance
Computer equipment - 25% straight line
Motor vehicles - 25% straight line

Other accounting policies
Leasing
Rentals payable under operating leases, where substantially all of the benefits and risks of ownership remain with the lessor, are charged against income on a straight line basis over the lease term.

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

Deferred taxation
Deferred taxation is provided at appropriate rates on all timing differences using the liability method only to the extent that, in the opinion of the directors, there is a reasonable probability that a liability of asset will crystalise in the foreseeable future.

2Tangible fixed assets

	£
Cost
At 1 January 2014	99,257
Additions	34,125
Disposals	(11,045)
Revaluations	-
Transfers	-
At 31 December 2014	122,337
Depreciation
At 1 January 2014	71,531
Charge for the year	18,779
On disposals	(11,045)
At 31 December 2014	79,265
Net book values
At 31 December 2014	43,072
At 31 December 2013	27,726

3Called Up Share Capital
Allotted, called up and fully paid:

	2014 £	2013 £
3 A Ordinary shares of £1 each	3	3
2 B Ordinary shares of £1 each	2	2