MJB Contracts Ltd - Period Ending 2015-03-31

Registration number: 06472565

MJB Contracts Ltd

Annual Report and Abbreviated Accounts

for the Year Ended 31 March 2015
 

Harney & Co Limited
Chartered Certified Accountants
21 Market Place
Blandford Forum
Dorset
DT11 7AF

MJB Contracts Ltd
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

MJB Contracts Ltd
(Registration number: 06472565)
Abbreviated Balance Sheet at 31 March 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					1,120			1,494
Current assets
Debtors					10,286			9,875
Cash at bank and in hand					9,158			43
					19,444			9,918
Creditors: Amounts falling due within one year					(42,203)			(16,860)
Net current liabilities					(22,759)			(6,942)
Total assets less current liabilities					(21,639)			(5,448)
Provisions for liabilities					-			(299)
Net liabilities					(21,639)			(5,747)
Capital and reserves
Called up share capital		3			2			2
Profit and loss account					(21,641)			(5,749)
Shareholders' deficit					(21,639)			(5,747)

For the year ending 31 March 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 December 2015 and signed on its behalf by:

.........................................
Mr M J Bennett
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

MJB Contracts Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 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 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
Office equipment	25% reducing balance

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

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 2

MJB Contracts Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 April 2014		2,103			2,103
At 31 March 2015		2,103			2,103
Depreciation
At 1 April 2014		609			609
Charge for the year		374			374
At 31 March 2015		983			983
Net book value
At 31 March 2015		1,120			1,120
At 31 March 2014		1,494			1,494

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary of £1 each		2			2			2			2

4	Related party transactions

Directors' advances and credits

	2015 Advance/ Credit £	2015 Repaid £	2014 Advance/ Credit £	2014 Repaid £
Mr M J Bennett
The following transactions subsisted during the year. Interest was charged on the overdrawn balance at the official rate and is shown within the profit and loss account.	-	-	-	6,509

Page 3