Abbreviated Company Accounts - MANDYS TOOLS LIMITED

MANDYS TOOLS LIMITED - Company Information

09098282 MANDYS TOOLS LIMITED 2015-06-30 false 2014-06-23 2015-06-30 true 09098282 2014-06-23 2015-06-30 09098282 2015-06-30 09098282 uk-gaap-cd-bus:Director1 2014-06-23 2015-06-30 09098282 uk-gaap-cd-bus:Director2 2014-06-23 2015-06-30 uk-gaap-cd-bus:OrdinaryShareClass1 2014-06-23 2015-06-30 uk-gaap-cd-bus:OrdinaryShareClass1 2015-06-30 iso4217:GBP shares

Registered Number 09098282

MANDYS TOOLS LIMITED

Abbreviated Accounts

30 June 2015

MANDYS TOOLS LIMITED Registered Number 09098282

Abbreviated Balance Sheet as at 30 June 2015

	Notes	2015
		£
Fixed assets
Intangible assets	2	40,000
Tangible assets	3	798
		40,798
Current assets
Stocks		47,142
Debtors		24
Cash at bank and in hand		1,268
		48,434
Creditors: amounts falling due within one year		(87,185)
Net current assets (liabilities)		(38,751)
Total assets less current liabilities		2,047
Provisions for liabilities		(160)
Total net assets (liabilities)		1,887
Capital and reserves
Called up share capital	4	1
Profit and loss account		1,886
Shareholders' funds		1,887

For the year ending 30 June 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 19 January 2016

And signed on their behalf by:
M Warren, Director

MANDYS TOOLS LIMITED Registered Number 09098282

Notes to the Abbreviated Accounts for the period ended 30 June 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover policy
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

Tangible assets depreciation policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Plant and machinery 25% reducing balance
Computer Equipment 33.33% straight line

Other accounting policies
Stocks
Stock is valued at the lower of cost and net realisable value.

Deferred taxation
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.

Pensions
The company does not operate a pension scheme.

2Intangible fixed assets

	£
Cost
Additions	50,000
Disposals	-
Revaluations	-
Transfers	-
At 30 June 2015	50,000
Amortisation
Charge for the year	10,000
On disposals	-
At 30 June 2015	10,000
Net book values
At 30 June 2015	40,000

3Tangible fixed assets

	£
Cost
Additions	1,113
Disposals	-
Revaluations	-
Transfers	-
At 30 June 2015	1,113
Depreciation
Charge for the year	315
On disposals	-
At 30 June 2015	315
Net book values
At 30 June 2015	798

4Called Up Share Capital
Allotted, called up and fully paid:

	2015 £
1 Ordinary shares of £1 each	1

Shares issued during the period:
Ordinary shares £1 each 1 1