Mando Group Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 04391789 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 March 2015

for

Mando Group Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Accountants' Report

7

DIRECTORS:

I D G Finch

D M Prior

J Seal

SECRETARY:

D M Prior

REGISTERED OFFICE:

Liverpool Science Park

Innovation Centre

131 Mount Pleasant

Liverpool

Merseyside

L3 5TF

REGISTERED NUMBER:

04391789 (England and Wales)

ACCOUNTANTS:

Jonathan Ford & Co Limited

Chartered Accountants

Maxwell House

Liverpool Innovation Park

Liverpool

Merseyside

L7 9NJ

FIXED ASSETS

Tangible assets

2

5,358

41,111

CURRENT ASSETS

Debtors

1,378,064

963,932

Cash at bank and in hand

445,213

285,300

1,823,277

1,249,232

CREDITORS

Amounts falling due within one year

3

862,158

711,455

NET CURRENT ASSETS

961,119

537,777

TOTAL ASSETS LESS CURRENT LIABILITIES

966,477

578,888

CREDITORS

Amounts falling due after more than one year

3

(110,060

)

-

PROVISIONS FOR LIABILITIES

(6,000

)

(3,250

)

NET ASSETS

850,417

575,638

CAPITAL AND RESERVES

Called up share capital

4

100

100

Share premium

149,985

149,985

Profit and loss account

700,332

425,553

SHAREHOLDERS' FUNDS

850,417

575,638

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 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 30 October 2015 and were signed on its behalf by:

D M Prior - 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 comprises revenue recognised by the company in respect of goods and services

supplied during the period, exclusive of Value Added Tax and trade discounts.

Tangible fixed assets

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

Computer equipment

-

33% on cost

During the period, the various rates of depreciation previously applied by the company to the

computer equipment asset class, were replaced with a single rate of 33%.

The effect on current year profit is a net reduction amounting to £11,446.

Deferred tax

Full provision is made for deferred tax assets and liabilities arising from all timing differences

between the recognition of gains and losses in the financial statements and recognition in the

tax computation.

A net deferred tax asset is recognised only if it can be regarded as more likely than not that

there will be suitable taxable profits from which the future reversal of the underlying timing

differences can be deducted.

Deferred tax assets and liabilities are calculated at the tax rates expected to be effective at the

time the timing differences are expected to reverse.

Deferred tax assets and liabilities are not discounted.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Development expenditure on individual projects is only carried forward where the future

recoverability of the expenditure can be reasonably regarded as assured. In such

circumstances the expenditure carried forward is amortised on an appropriate basis. Where

the future recoverability of development expenditure cannot be reasonably regarded as assured

it is charged to the profit and loss account as incurred.

Deferred development expenditure is reviewed annually, and where future benefits are deemed

to have ceased or to be in doubt, the balance of any related development expenditure is written

off to the profit and loss account.

Operating leases

Rentals under operating leases are charged to the profit and loss account on a straight line

basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a

straight line basis over the period until the date the rent is expected to be adjusted to the

prevailing market rate.

Pensions

The company contributes to personal pension plans and the pension charge represents the

amounts payable by the company during the year.

Long-term contracts

Profit on long-term contracts is taken as the work is carried out if the final outcome can be

assessed with reasonable certainty. The profit included is calculated on a prudent basis to

reflect the proportion of the work carried out at the year end, by recording turnover and

related costs as contract activity progresses.

Turnover is calculated as that proportion of total contract value which costs incurred to date

bear to total expected costs for that contract.

Revenues derived from variations on contracts are recognised only when they have been

accepted by the customer. Full provision is made for losses on all contracts in the year in

which they are first foreseen.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

327,092

Additions

1,082

At 31 March 2015

328,174

DEPRECIATION

At 1 April 2014

285,981

Charge for year

36,835

At 31 March 2015

322,816

NET BOOK VALUE

At 31 March 2015

5,358

At 31 March 2014

41,111

3.

CREDITORS

Creditors include an amount of £ 140,510 for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.15

31.3.14

value:

as restated

£

£

10,000

Ordinary

£0.01

100

100

5.	ULTIMATE PARENT COMPANY

Mando (Holdings) Limited is regarded by the directors as being the company's ultimate parent

company.

6.	ULTIMATE CONTROLLING PARTY

The controlling party is I D G Finch.

The following reproduces the text of the report prepared for the directors in respect of the

company's annual unaudited financial statements, from which the unaudited abbreviated

accounts (set out on pages two to six) have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your

approval the financial statements of Mando Group Limited for the year ended 31 March 2015 which

comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's

accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Mando Group Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Mando Group Limited and state those matters that we have agreed to state to the Board of Directors of Mando Group Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Mando Group Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Mando Group Limited. You consider that Mando Group Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Mando

Group Limited. For this reason, we have not verified the accuracy or completeness of the accounting

records or information and explanations you have given to us and we do not, therefore, express any

opinion on the statutory financial statements.

Jonathan Ford & Co Limited

Chartered Accountants

Maxwell House

Liverpool Innovation Park

Liverpool

Merseyside

L7 9NJ

Date: .............................................