Mandalay Investments Ltd - Period Ending 2015-04-30

Registration number: 03186596

Mandalay Investments Ltd

Unaudited Abbreviated Accounts

for the Year Ended 30 April 2015
 

SBMC Business Management Ltd
Accountants
432 Gloucester Road
Horfield
Bristol
Bristol
BS7 8TX

Mandalay Investments Ltd
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Accountants' Report to the Board of Directors on the Preparation of the Statutory Accounts of
Mandalay Investments Ltd
for the Year Ended 30 April 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Mandalay Investments Ltd for the year ended 30 April 2015 set out on pages 2 to 4 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Mandalay Investments Ltd, as a body, in accordance. Our work has been undertaken solely to prepare for your approval the accounts of Mandalay Investments Ltd. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Mandalay Investments Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Mandalay Investments Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Mandalay Investments Ltd. You consider that Mandalay Investments Ltd 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 accounts of Mandalay Investments Ltd. 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 accounts.

......................................

SBMC Business Management Ltd
Accountants
432 Gloucester Road
Horfield
Bristol
Bristol
BS7 8TX

24 November 2015

Page 1

Mandalay Investments Ltd
(Registration number: 03186596)
Abbreviated Balance Sheet at 30 April 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					1,651,384			1,679,930
Current assets
Stocks					12,064			34,663
Debtors		3			1,184,472			1,153,695
					1,196,536			1,188,358
Creditors: Amounts falling due within one year					(174,697)			(152,439)
Net current assets					1,021,839			1,035,919
Total assets less current liabilities					2,673,223			2,715,849
Creditors: Amounts falling due after more than one year					(823,370)			(946,479)
Net assets					1,849,853			1,769,370
Capital and reserves
Called up share capital		5			250,000			250,000
Profit and loss account					1,599,853			1,519,370
Shareholders' funds					1,849,853			1,769,370

For the year ending 30 April 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their 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 .

Approved by the Board on 24 November 2015 and signed on its behalf by:

.........................................
Mrs L Bracey
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Mandalay Investments Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 April 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Buildings	2% Straight Line Basis
Office Equipment	33 1/3 % Straight Line Basis
Fixtures & Fittings	25% Reducing Balance Basis

Investment properties

No depreciation is provided in respect of the land in the investment properties . As permitted by the transitional provisions of the FRSSE the company elected not to adopt a policy of revaluation of tangible fixed assets, The company will retain the cost value of land and buildings ,and will not update that cost.

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

Mandalay Investments Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 April 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 May 2014		1,966,251			1,966,251
Additions		1,688			1,688
At 30 April 2015		1,967,939			1,967,939
Depreciation
At 1 May 2014		286,321			286,321
Charge for the year		30,234			30,234
At 30 April 2015		316,555			316,555
Net book value
At 30 April 2015		1,651,384			1,651,384
At 30 April 2014		1,679,930			1,679,930

3

Debtors

Debtors includes £623,473 (2014 - £623,473) receivable after more than one year.

 

4

Creditors

Included in the creditors are the following amounts due after more than five years:

		2015 £			2014 £
After more than five years by instalments		519,770			642,879

5	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary Shares of £1 each		250,000			250,000			250,000			250,000

Page 4