Melhuish & Saunders Limited - Period Ending 2015-12-31

Registration number: 02763920

Melhuish & Saunders Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2015
 

Melhuish & Saunders Limited
Contents

Page

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 5

Melhuish & Saunders Limited
(Registration number: 02763920)
Abbreviated Balance Sheet at 31 December 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					114,020			34,553
Current assets
Stocks					-			3,000
Debtors					1,075,105			428,917
Cash at bank and in hand					672,437			378,392
					1,747,542			810,309
Creditors: Amounts falling due within one year		3			(1,565,553)			(641,612)
Net current assets					181,989			168,697
Total assets less current liabilities					296,009			203,250
Creditors: Amounts falling due after more than one year					(20,524)			(9,881)
Provisions for liabilities					(7,423)			-
Net assets					268,062			193,369
Capital and reserves
Called up share capital		4			1,224			1,224
Share premium account					7,076			7,076
Profit and loss account					259,762			185,069
Shareholders' funds					268,062			193,369

Page 1

Melhuish & Saunders Limited
(Registration number: 02763920)
Abbreviated Balance Sheet at 31 December 2015

For the year ending 31 December 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 25 April 2016 and signed on its behalf by:

J R Mitchard Director

Page 2

Melhuish & Saunders Limited
Notes to the Abbreviated Accounts
For the Year Ended 31 December 2015

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 January 2015).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers. This reflects the value of services provided to the extent that there is a right to consideration. The value of services provided is based on the stage of completion of each contract.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	20% straight line
Fixtures and fittings	20% straight line
Motor Vehicles	20% straight line
Office equipment	20% straight line

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

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.

Page 3

Melhuish & Saunders Limited
Notes to the Abbreviated Accounts
For the Year Ended 31 December 2015

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 January 2015		204,835			204,835
Additions		104,511			104,511
Disposals		(37,503)			(37,503)
At 31 December 2015		271,843			271,843
Depreciation
At 1 January 2015		170,282			170,282
Charge for the year		25,044			25,044
Eliminated on disposals		(37,503)			(37,503)
At 31 December 2015		157,823			157,823
Net book value
At 31 December 2015		114,020			114,020
At 31 December 2014		34,553			34,553

Page 4

Melhuish & Saunders Limited
Notes to the Abbreviated Accounts
For the Year Ended 31 December 2015

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2015 £			2014 £
Amounts falling due within one year		9,205			2,343
Amounts falling due after more than one year		20,524			9,881
Total secured creditors		29,729			12,224

4	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary A of £1 each		1,002			1,002			1,002			1,002
Ordinary B of £1 each		100			100			100			100
Ordinary C of £1 each		122			122			122			122
		1,224			1,224			1,224			1,224

Page 5