METALIN_LIMITED - Accounts

METALIN LIMITED - Company Information

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METALIN LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2015

Company Registration No. 2484245 (England and Wales)

METALIN LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

METALIN LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

228,871

228,950

Current assets

Debtors

56,002

65,253

Cash at bank and in hand

15,932

9,344

71,934

74,597

Creditors: amounts falling due within one year

(7,514)

(1,000)

Net current assets

64,420

73,597

Total assets less current liabilities

293,291

302,547

Capital and reserves

Called up share capital

100

Profit and loss account

293,191

302,447

Shareholders' funds

293,291

302,547

For the financial year ended 31 March 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 19 August 2015

A.Y. Serpen

Director

Company Registration No. 2484245

METALIN LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2015

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents sales of goods net of VAT and trade discounts. Turnover is recognised when the goods are physically delivered to the customer.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets other than freehold land 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:

Land and buildings Freehold

Zero

Plant and machinery

25% reducing balance

Freehold land and buildings are depreciated to write the cost less estimated residual value or their useful life by equal annual instalments. Where buildings are maintained to such a standard that their residual value is not less than their cost or valuation, no depreciation is charged as it is not material.

Fixed assets

Tangible assets

Cost

At 1 April 2014 & at 31 March 2015

243,229

Depreciation

At 1 April 2014

14,279

Charge for the year

At 31 March 2015

14,358

Net book value

At 31 March 2015

228,871

At 31 March 2014

228,950

METALIN LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2015

- 3 -

Share capital

2015

2014

Allotted, called up and fully paid

100 Ordinary of £1 each

100

Transactions with directors

Creditors include an amount of £6,499 (2014: £NIL) in respect of a director's loan account.

Related party relationships and transactions

Other debtors include an amount of £55,952 (2014: £65,253) due to Metalin UK Limited, a company in which the director is also a director and shareholder.