Metanate Ltd - Period Ending 2015-10-31

Registration number: 04046086

Metanate Ltd
 
  Abbreviated Accounts
 
  for the Year Ended 31 October 2015
 

Tim Phillips & Co Ltd
Accountants
Cart House 2
Copley Hill Business Park
Cambridge Road
Babraham
Cambridge
CB22 3GN

Metanate Ltd
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Metanate Ltd
(Registration number: 04046086)
Abbreviated Balance Sheet at 31 October 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					237,269			232,104
Current assets
Debtors					132,657			16,134
Cash at bank and in hand					160,139			91,901
					292,796			108,035
Creditors: Amounts falling due within one year					(129,328)			(112,977)
Net current assets/(liabilities)					163,468			(4,942)
Net assets					400,737			227,162
Capital and reserves
Called up share capital		3			50			50
Profit and loss account					400,687			227,112
Shareholders' funds					400,737			227,162

For the year ending 31 October 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 March 2016 and signed on its behalf by:

.........................................
D R Lamkin
Director

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

Metanate Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 October 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, net of value added tax, 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 esimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	25% Straight Line
Office equipment	25% Reducing Balance

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

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

Metanate Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 October 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 November 2014		301,480			301,480
Additions		10,768			10,768
At 31 October 2015		312,248			312,248
Depreciation
At 1 November 2014		69,376			69,376
Charge for the year		5,603			5,603
At 31 October 2015		74,979			74,979
Net book value
At 31 October 2015		237,269			237,269
At 31 October 2014		232,104			232,104

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		40			40			40			40
Capital Redemption Reserve of £1 each		10			10			10			10
		50			50			50			50

Page 3