Mayfield Press (Oxford) Limited - Period Ending 2016-03-31

Registration number: 3581293

Mayfield Press (Oxford) Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2016
 

Mayfield Press (Oxford) Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 4

Mayfield Press (Oxford) Limited
(Registration number: 3581293)
Abbreviated Balance Sheet at 31 March 2016

		Note			2016 £			2015 £
Fixed assets
Intangible fixed assets					1,545			2,003
Tangible fixed assets					1,486,021			1,206,619
Investments					2			2
					1,487,568			1,208,624
Current assets
Stocks					149,852			75,359
Debtors					1,457,009			749,743
Cash at bank and in hand					108,016			101,402
					1,714,877			926,504
Creditors: Amounts falling due within one year					(1,823,380)			(1,350,317)
Net current liabilities					(108,503)			(423,813)
Total assets less current liabilities					1,379,065			784,811
Creditors: Amounts falling due after more than one year					(697,662)			(403,101)
Provisions for liabilities					(251,671)			(183,134)
Net assets					429,732			198,576
Capital and reserves
Called up share capital		3			30,000			30,000
Other reserves					2			2
Profit and loss account					399,730			168,574
Shareholders' funds					429,732			198,576

For the year ending 31 March 2016 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 21 April 2016 and signed on its behalf by:

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 1

Mayfield Press (Oxford) Limited
(Registration number: 3581293)
Abbreviated Balance Sheet at 31 March 2016
......... continued

.........................................
D O Williams
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Mayfield Press (Oxford) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... 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 January 2015).

Exemption from preparing group accounts

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life of 5 years.

Amortisation

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

Asset class	Amortisation method and rate
Goodwill	Straight line over 5 years.

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
Land and buildings	Straight line over 25 years
Leasehold properties	Straight line over the life of the lease
Plant and machinery	15% - 20% reducing balance
Fixtures, fittings and equipment	25% reducing balance
Motor vehicles	25% straight line
Computer equipment	33.33% straight line

Fixed asset investments

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

Stock

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

Deferred tax

Deferred tax is provided for using the liability method to take account of timing differences between the incidence of income and expenditure for accounting and taxation purposes.

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

Mayfield Press (Oxford) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

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.

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

		Intangible assets £			Tangible assets £			Investments £			Total £
Cost
At 1 April 2015		140,002			2,115,784			2			2,255,788
Additions		-			623,066			-			623,066
Disposals		-			(371,600)			-			(371,600)
At 31 March 2016		140,002			2,367,250			2			2,507,254
Depreciation
At 1 April 2015		137,999			909,165			-			1,047,164
Charge for the year		458			153,431			-			153,889
Eliminated on disposals		-			(181,367)			-			(181,367)
At 31 March 2016		138,457			881,229			-			1,019,686
Net book value
At 31 March 2016		1,545			1,486,021			2			1,487,568
At 31 March 2015		2,003			1,206,619			2			1,208,624

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		30,000			30,000			30,000			30,000

Page 4