Abbreviated Company Accounts - MOLART LIMITED

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Registered Number 07384711

MOLART LIMITED

Abbreviated Accounts

30 September 2015

MOLART LIMITED Registered Number 07384711

Abbreviated Balance Sheet as at 30 September 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	1,537,502	1,539,770
Investments	3	5,000	5,000
		1,542,502	1,544,770
Current assets
Debtors		235,003	126,549
Cash at bank and in hand		198	48,716
		235,201	175,265
Creditors: amounts falling due within one year	4	(84,441)	(33,972)
Net current assets (liabilities)		150,760	141,293
Total assets less current liabilities		1,693,262	1,686,063
Provisions for liabilities		(581)	(2,000)
Total net assets (liabilities)		1,692,681	1,684,063
Capital and reserves
Called up share capital	5	1,525	1,525
Revaluation reserve		911,725	911,725
Profit and loss account		779,431	770,813
Shareholders' funds		1,692,681	1,684,063

For the year ending 30 September 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 7 April 2016

And signed on their behalf by:
Mrs RA York, Director

MOLART LIMITED Registered Number 07384711

Notes to the Abbreviated Accounts for the period ended 30 September 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 represents amounts receivable for goods and services net of VAT and trade discounts.

Tangible assets depreciation policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery 20% per annum on written down value
Motor vehicles 25% per annum on written down value

Investment properties are included in the balance sheet at their open market value.

Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.

Fixed asset investments are stated at cost less provision for diminution in value.

2Tangible fixed assets

	£
Cost
At 1 October 2014	1,553,367
Additions	923
Disposals	-
Revaluations	-
Transfers	-
At 30 September 2015	1,554,290
Depreciation
At 1 October 2014	13,597
Charge for the year	3,191
On disposals	-
At 30 September 2015	16,788
Net book values
At 30 September 2015	1,537,502
At 30 September 2014	1,539,770

3Fixed assets Investments
Cost at 1 October 2014 £5,000

Net book value at 30 September 2015 £5,000
Net book value at 30 September 2014 £5,000

4Creditors

	2015 £	2014 £
Secured Debts	40,407	0

5Called Up Share Capital
Allotted, called up and fully paid:

	2015 £	2014 £
3,050 Ordinary shares of £0.50 each	1,525	1,525

6Transactions with directors

Name of director receiving advance or credit:	Mr M French
Description of the transaction:	Participator loan
Balance at 1 October 2014:	£ 52,985
Advances or credits made:	£ 2,649
Advances or credits repaid:	-
Balance at 30 September 2015:	£ 55,634