Mobile Pallets Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 01722241 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 December 2015

for

MOBILE PALLETS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

Mr A Hollingworth

SECRETARY:

Ms J Mumford

REGISTERED OFFICE:

Unit 1

Stamford Works

Woodend Mill

Mossley

OL5 9AY

REGISTERED NUMBER:

01722241 (England and Wales)

ACCOUNTANTS:

BTMR Limited

Century Buildings

14 St Mary's Parsonage

Manchester

M3 2DF

BANKERS:

Barclays Bank PLC

1 Yorkshire Street

Rochdale

Lancashire

FIXED ASSETS

Tangible assets

2

51,941

61,106

CURRENT ASSETS

Stocks

131,089

150,608

Debtors

287,967

333,013

Prepayments and accrued income

9,519

8,643

Cash at bank and in hand

491

19,390

429,066

511,654

CREDITORS

Amounts falling due within one year

3

314,516

398,294

NET CURRENT ASSETS

114,550

113,360

TOTAL ASSETS LESS CURRENT LIABILITIES

166,491

174,466

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

166,391

174,366

SHAREHOLDERS' FUNDS

166,491

174,466

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2015 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 15 March 2016 and were signed by:

Mr A Hollingworth - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover is accounted for as revenue when, and to the extent that, the company obtains a right to consideration

in exchange for its performance of its obligations under the sales contract with the customer. The amount

reported as revenue is the fair value of the right to consideration - usually the price specified in the contractual

arrangement net of discounts and net of VAT, and after any allowance for credit risk and other uncertainties.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Hire purchase and lease transactions

Assets acquired under hire purchase agreements and finance leases are capitalised in the balance sheet and are

depreciated in accordance with the company's normal policy. The outstanding liabilities under such agreements

less interest not yet due are included in creditors. Interest on such agreements is charged to the profit and loss

account over the term of each agreement and represents a constant proportion of the balance of capital

repayments outstanding.

Rentals under operating leases are charged to the profit and loss account as they fall due.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual

arrangement, as either 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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

and 31 December 2015

139,659

DEPRECIATION

At 1 January 2015

78,553

Charge for year

9,165

At 31 December 2015

87,718

NET BOOK VALUE

At 31 December 2015

51,941

At 31 December 2014

61,106

3.

CREDITORS

Creditors include an amount of £ 17,286 for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.15

31.12.14

value:

£

£

100

Ordinary

£1

100

100