M Yates Ltd,Ltd - Accounts

M Yates Ltd,Ltd - Accounts

M. YATES LIMITED - Company Information

Print Friendly Version

2013-12-01 true false Private Limited Company 05290288 2014-11-30 05290288 2013-12-01 2014-11-30 05290288 2013-11-30 05290288 2012-12-01 2013-11-30 05290288 uk-bus:Director1 2013-12-01 2014-11-30 05290288 uk-gaap:ToolsEquipment 2013-12-01 2014-11-30 05290288 uk-gaap:MotorCars 2013-12-01 2014-11-30 iso4217:GBP
M Yates Ltd
For the year ended 30 November 2014
Unaudited Abbreviated Report and Financial Statements
England and Wales
Registered Number: 05290288
2
Contents Page
M Yates Ltd
For the year ended 30 November 2014
1
Accountant's Report
2
Balance Sheet
3 to 4
Notes to the Abbreviated Financial Statements
3
M Yates Ltd
Accountant's Report
For the year ended 30 November 2014
As described on the balance sheet you are responsible for the preparation of the financial statements for the year
ended 30 November 2014 and you consider that the company is exempt from an audit under the Companies Act
2006.
In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you
to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.
Vatax Accounting Ltd
The Farmhouse
Common Farm
Eaton Bray
Beds
LU6 1RD
18 August 2015
Dated:
1 of 4
4
Abbreviated Balance Sheet
M Yates Ltd
As at 30 November 2014
05290288
Registered Number :
£
£
2014
Notes
2013
Fixed assets
Tangible assets
2
16,512
1,023
16,512
1,023
Current assets
Debtors
2,394
-
Cash at bank and in hand
4,921
2,978
4,921
5,372
Creditors: amounts falling due within one year
(1,038)
(14,147)
4,334
(9,226)
Net current liabilities
Total assets less current liabilities
7,286
5,357
Creditors: amounts falling due after more than one year
(2,490)
(12,378)
(5,092)
Net assets/liabilities
2,867
Capital and reserves
Called up share capital
2
2
Profit and loss account
(5,094)
2,865
(5,092)
2,867
Shareholders funds
For the year ended 30 November 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director responsibilities: 1) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;
2) The director acknowledges his 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.
Date approved by the board: 18 August 2015
M Yates Director
Signed on behalf of the board of directors
2 of 4
5
Notes to the Abbreviated Financial Statements
M Yates Ltd
For the year ended 30 November 2014
1 Accounting Policies
Basis of accounting
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Going Concern
The financial statements have been prepared on a going concern basis. The company's ongoing activities are dependent upon the continued support of the director who has undertaken to provide such support for the foreseeable future. If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the profit and loss account on a straight line basis.
Dividends
Proposed dividends are only included as liabilities in the financial statements when their payment has been approved
by the shareholders prior to the balance sheet date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery
20% Reducing balance
Motor Vehicles
20% Reducing balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and
rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets
and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
3 of 4
6
Notes to the Abbreviated Financial Statements
M Yates Ltd
For the year ended 30 November 2014
2 Tangible fixed assets
Tangible fixed
assets
Cost or valuation
£
5,203
At 01 December 2013
20,585
Additions
(4,926)
Disposals
At 30 November 2014
20,862
Depreciation
4,180
At 01 December 2013
(3,958)
Disposals
4,128
Charge for year
4,350
At 30 November 2014
Net book values
At 30 November 2014
16,512
1,023
At 30 November 2013
4 of 4