Maylan Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 07439743 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2015

FOR

MAYLAN LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

to

3

Notes to the Abbreviated Accounts

4

to

5

DIRECTORS:

S P Weiss

P Weiss

SECRETARY:

S P Weiss

REGISTERED OFFICE:

Thorpe House

93 Headlands

Kettering

Northamptonshire

NN15 6BL

REGISTERED NUMBER:

07439743 (England and Wales)

FIXED ASSETS

Tangible assets

2

155,477

172,736

CURRENT ASSETS

Stocks

20,000

25,750

Debtors

213,444

198,424

Cash at bank and in hand

71,423

26,393

304,867

250,567

CREDITORS

Amounts falling due within one year

3

344,395

302,398

NET CURRENT LIABILITIES

(39,528

)

(51,831

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

115,949

120,905

CREDITORS

Amounts falling due after more than one
year

3

(46,913

)

(78,655

)

PROVISIONS FOR LIABILITIES

(25,198

)

-

NET ASSETS

43,838

42,250

CAPITAL AND RESERVES

Called up share capital

4

100

Profit and loss account

43,738

42,150

SHAREHOLDERS' FUNDS

43,838

42,250

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2015 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 22 January 2016 and were signed on its behalf by:

S P Weiss - 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 April 2008).

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

10% on reducing balance

Motor vehicles

-

at varying rates on cost

Computer equipment

-

25% on cost

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2014

207,283

Additions

1,111

At 30 September 2015

208,394

DEPRECIATION

At 1 October 2014

34,547

Charge for year

18,370

At 30 September 2015

52,917

NET BOOK VALUE

At 30 September 2015

155,477

At 30 September 2014

172,736

3.

CREDITORS

Creditors include an amount of £ 78,655 (2014 - £ 110,571 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

100

Ordinary

£1

100

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2015 and

30 September 2014:

2015

2014

£

S P Weiss

Balance outstanding at start of year

-

4,512

Amounts advanced

551

-

Amounts repaid

(12,359

)

(4,512

)

Balance outstanding at end of year

(11,808

)

-