Medina Foodstores Ltd - Abbreviated accounts 16.1

REGISTERED NUMBER: 08068893 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MAY 2015

FOR

MEDINA FOODSTORES LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

Mrs N Ahmed

SECRETARY:

REGISTERED OFFICE:

Pegasus House

5 Winckley Court

Mount Street

Preston

Lancashire

PR1 8BU

REGISTERED NUMBER:

08068893 (England and Wales)

ACCOUNTANTS:

SKM Chartered Accountants

Pegasus House

5 Winckley Court

Mount Street

Preston

Lancashire

PR1 8BU

BANKERS:

HSBC

PO Box 70

40 Fishergate

Preston

Lancashire

PR1 2DE

FIXED ASSETS

Tangible assets

2

2,048

2,560

CURRENT ASSETS

Stocks

49,550

34,560

Debtors

6,472

2,772

Cash in hand

5,205

11,238

61,227

48,570

CREDITORS

Amounts falling due within one year

52,155

49,803

NET CURRENT ASSETS/(LIABILITIES)

9,072

(1,233

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

11,120

1,327

PROVISIONS FOR LIABILITIES

430

538

NET ASSETS

10,690

789

CAPITAL AND RESERVES

Called up share capital

3

100

Profit and loss account

10,590

689

SHAREHOLDERS' FUNDS

10,690

789

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

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

The director acknowledges her 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 17 May 2016 and were signed by:

Mrs N Ahmed - 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 January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

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

-

20% on reducing balance

Fixtures and fittings

-

20% 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2014

and 31 May 2015

4,000

DEPRECIATION

At 1 June 2014

1,440

Charge for year

512

At 31 May 2015

1,952

NET BOOK VALUE

At 31 May 2015

2,048

At 31 May 2014

2,560

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

100

Ordinary

1

100