THE_MODERN_TOBACCO_CO._LT - Accounts

THE MODERN TOBACCO CO LTD - Company Information

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Company Registration No. 08522655 (England and Wales)

THE MODERN TOBACCO CO. LTD

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2015

THE MODERN TOBACCO CO. LTD

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

THE MODERN TOBACCO CO. LTD

ABBREVIATED BALANCE SHEET

AS AT

31 MAY 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

2,290

5,755

Current assets

Stocks

16,919

46,466

Debtors

42,965

43,322

Cash at bank and in hand

16,662

26,661

76,546

116,449

Creditors: amounts falling due within one year

(81,568)

(83,279)

Net current liabilities/(assets)

(5,022)

33,170

Total assets less current liabilities

(2,732)

38,925

Capital and reserves

Called up share capital

100,208

Profit and loss account

(102,940)

(61,283)

Shareholders' funds

(2,732)

38,925

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

Directors' responsibilities:

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

The directors acknowledge their 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 24 November 2015

A. Scott-Watson

Director

Company Registration No. 08522655

THE MODERN TOBACCO CO. LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MAY 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).

Due to the net liabilities position, the company relies on the continued support of the directors. The directors have pledged their support for the foreseeable future.

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 amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets 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:

Computer equipment & software

25% Straight Line

Website

50% Straight Line

1.5

Leasing

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.6

Stock

Stock is valued at the lower of cost and net realisable value.

Fixed assets

Tangible assets

Cost

At 1 June 2014 & at 31 May 2015

7,743

Depreciation

At 1 June 2014

1,988

Charge for the period

3,465

At 31 May 2015

5,453

Net book value

At 31 May 2015

2,290

At 31 May 2014

5,755

THE MODERN TOBACCO CO. LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2015

- 3 -

Share capital

2015

2014

Allotted, called up and fully paid

100,000 Ordinary A shares of £1 each

100,000

208 Ordinary B shares of £1 each

208

100,208