Mission Resources Group Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 07640958

MISSION RESOURCES GROUP LIMITED

ABBREVIATED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2015

Page

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

3

FIXED ASSETS

Tangible assets

2

4,754

6,339

Investments

3

2,177,900

2,177,800

2,182,654

2,184,139

CURRENT ASSETS

Debtors

258,795

253,663

Cash at bank and in hand

8,994

9,432

267,789

263,095

CREDITORS

Amounts falling due within one year

320,794

324,370

NET CURRENT LIABILITIES

(53,005

)

(61,275

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,129,649

2,122,864

CREDITORS

Amounts falling due after more than one year

2,098,460

2,093,460

NET ASSETS

31,189

29,404

CAPITAL AND RESERVES

Called up share capital

4

1

1

Profit and loss account

31,188

29,403

SHAREHOLDERS' FUNDS

31,189

29,404

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2015 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 7 July 2015 and were signed by:

N C Spencer - 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 services, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Office equipment

-

25% on reducing balance

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.

Investments

Fixed asset investments are stated at cost less provision for any permanent diminution in value.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

and 31 March 2015

12,225

DEPRECIATION

At 1 April 2014

5,886

Charge for year

1,585

At 31 March 2015

7,471

NET BOOK VALUE

At 31 March 2015

4,754

At 31 March 2014

6,339

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 April 2014

2,177,800

Additions

100

At 31 March 2015

2,177,900

NET BOOK VALUE

At 31 March 2015

2,177,900

At 31 March 2014

2,177,800

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

following:

Mission Recycling Worcester Limited

Nature of business: Material recycling

%

Class of shares:

holding

Ordinary

100.00

2015

2014

£

£

Aggregate capital and reserves

1,578,316

1,544,021

Profit for the year

34,295

81,903

Mission Recycling Swindon Limited

Nature of business: Material recycling

%

Class of shares:

holding

Ordinary

100.00

2015

2014

£

£

Aggregate capital and reserves

200,956

200,145

Profit for the year

811

9,016

Mission Developments Limited (formerly Manik Technologies Ltd)

Nature of business: Property development

%

Class of shares:

holding

Ordinary

100.00

2015

£

Aggregate capital and reserves

(5,350

)

Loss for the year

(5,450

)

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

1

Ordinary

£1

1

1

5.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Advances, credits

During the year the company made available to the director an unsecured loan by way of advances

and credits. The total of advances and credits made during the year was £20,227. The total of

repayments made during the year was £Nil. Interest was charged on the loan at the official rate.

The director of the company is also the only shareholder of the company and is aware of the

requirements of Section 197 of the Companies Act 2006 regarding approval by the members of loans

to directors.