Abbreviated Company Accounts - MAKASI IMPORTS LIMITED

MAKASI IMPORTS LIMITED - Company Information

09073410 MAKASI IMPORTS LIMITED 2015-06-30 false 2014-06-05 2015-06-30 true 09073410 2014-06-05 2015-06-30 09073410 2015-06-30 09073410 uk-gaap-cd-bus:Director1 2014-06-05 2015-06-30 09073410 uk-gaap-cd-bus:Director2 2014-06-05 2015-06-30 uk-gaap-cd-bus:OrdinaryShareClass1 2014-06-05 2015-06-30 uk-gaap-cd-bus:OrdinaryShareClass1 2015-06-30 iso4217:GBP shares

Registered Number 09073410

MAKASI IMPORTS LIMITED

Abbreviated Accounts

30 June 2015

MAKASI IMPORTS LIMITED Registered Number 09073410

Abbreviated Balance Sheet as at 30 June 2015

	Notes	2015
		£
Fixed assets
Tangible assets	2	23,623
		23,623
Current assets
Stocks		64,660
Debtors		43,687
		108,347
Creditors: amounts falling due within one year	3	(131,925)
Net current assets (liabilities)		(23,578)
Total assets less current liabilities		45
Creditors: amounts falling due after more than one year	3	(15,868)
Total net assets (liabilities)		(15,823)
Capital and reserves
Called up share capital	4	1
Profit and loss account		(15,824)
Shareholders' funds		(15,823)

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 3 March 2016

And signed on their behalf by:
Mr D Unsworth, Director

MAKASI IMPORTS LIMITED Registered Number 09073410

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 April 2008.

Turnover policy
Turnover comprises revenue recognised by the company in respect of goods and services supplied during the period, on an accruals basis.

Tangible assets depreciation policy
Depreciation is provided at the following bases:
Plant and machinery 15% reducing balance
Office equipment 25% reducing balance
Motor vehicles 25% reducing balance

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

Assets obtained under hire purchase contracts are capitalised as tangible fixed assets, and depreciated over their useful lives. Hire purchase contracts are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods.

2Tangible fixed assets

	£
Cost
Additions	32,802
Disposals	(3,914)
Revaluations	-
Transfers	-
At 30 June 2015	28,888
Depreciation
Charge for the year	5,623
On disposals	(358)
At 30 June 2015	5,265
Net book values
At 30 June 2015	23,623

The net book value of assets held under hire purchase contracts amounted to £22,554.

3Creditors

	2015 £
Secured Debts	38,717

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

	2015 £
1 Ordinary shares of £1 each	1

1 ordinary share was issued at par during the period.