MBS Components Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 07284682 (England and Wales)

MBS COMPONENTS LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2014

Page

Company Information

1

Abbreviated Balance Sheet

2

to

3

Notes to the Abbreviated Accounts

4

to

6

DIRECTORS:

D Chapman

S D Morris

Mrs J Sharpe

REGISTERED OFFICE:

Unit 1 Tyson Courtyard

Weldon South Industrial Estate

Corby

Northamptonshire

NN18 8AZ

REGISTERED NUMBER:

07284682 (England and Wales)

ACCOUNTANTS:

Haines Watts Northamptonshire LLP

26-28 Headlands

Kettering

Northamptonshire

NN15 7HP

FIXED ASSETS

Tangible assets

2

22,071

14,732

Investments

3

36,050

36,050

58,121

50,782

CURRENT ASSETS

Stocks

266,949

232,680

Debtors

161,103

166,331

Cash at bank

2,309

15,047

430,361

414,058

CREDITORS

Amounts falling due within one year

4

449,341

412,553

NET CURRENT (LIABILITIES)/ASSETS

(18,980

)

1,505

TOTAL ASSETS LESS CURRENT LIABILITIES

39,141

52,287

CREDITORS

Amounts falling due after more than one year

4

(11,888

)

(46,377

)

PROVISIONS FOR LIABILITIES

(4,414

)

(2,946

)

NET ASSETS

22,839

2,964

CAPITAL AND RESERVES

Called up share capital

5

1,000

1,000

Profit and loss account

21,839

1,964

SHAREHOLDERS' FUNDS

22,839

2,964

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 directors acknowledge their 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 Board of Directors on 10 August 2015 and were signed on its behalf by:

S D Morris - 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).

The financial statements are prepared on a going concern basis, as with the continued support of the directors

the company will continue in operational existence for the foreseeable future.

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

-

20% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling

at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2014

21,527

Additions

12,857

At 31 December 2014

34,384

DEPRECIATION

At 1 January 2014

6,795

Charge for year

5,518

At 31 December 2014

12,313

NET BOOK VALUE

At 31 December 2014

22,071

At 31 December 2013

14,732

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 January 2014

and 31 December 2014

36,050

NET BOOK VALUE

At 31 December 2014

36,050

At 31 December 2013

36,050

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

Subsidiary

Global Technologies Europe Limited

Nature of business: Manufacture of computer cabling and connectors.

%

Class of shares:

holding

Ordinary

100.00

2014

2013

£

£

Aggregate capital and reserves

64,355

46,944

Profit/(loss) for the year/period

17,411

(15,401

)

Associated company

Encitech UK Limited

Nature of business: Manufacture of electronic components.

%

Class of shares:

holding

Ordinary

50.00

2014

2013

£

£

Aggregate capital and reserves

(2,445

)

(1,413

)

Loss for the year/period

(1,032

)

(1,513

)

4.

CREDITORS

Creditors include an amount of £ 71,827 (2013 - £ 88,430 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

53,000

Ordinary A

1p

530

530

20,000

Ordinary B

1p

200

200

9,000

Ordinary C

1p

90

90

9,000

Ordinary D

1p

90

90

9,000

Ordinary E

1p

90

90

1,000

1,000

6.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES