MI Windows Limited - Abbreviated accounts

MI WINDOWS LIMITED - Company Information

Registered number

07227539

MI Windows Limited

Unaudited Abbreviated Accounts

31 March 2016

MI Windows Limited

Chartered Accountants' report to the board of directors on the preparation of the unaudited abbreviated accounts of MI Windows Limited for the year ended 31 March 2016
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abbreviated accounts of MI Windows Limited for the year ended 31 March 2016 which comprise of the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
This report is made solely to the Board of Directors of MI Windows Limited, as a body, in accordance with the terms of our engagement letter dated 19 April 2010. Our work has been undertaken solely to prepare for your approval the accounts of MI Windows Limited and state those matters that we have agreed to state to the Board of Directors of MI Windows Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than MI Windows Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that MI Windows Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of MI Windows Limited. You consider that MI Windows Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of MI Windows Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the abbreviated accounts.

Jon Essam & Co Ltd
Chartered Accountants
23 Cottingham Way
Thrapston
Kettering
Northants
NN14 4PL

9 May 2016

MI Windows Limited
Registered number:		07227539
Abbreviated Balance Sheet
as at 31 March 2016

Notes			2016			2015
£				£
Fixed assets
Tangible assets	2		19,272			20,618

Current assets
Stocks		4,908			4,609
Debtors		2,384			810
Cash at bank and in hand		74,337			27,820
		81,629			33,239

Creditors: amounts falling due within one year		(67,893)			(37,382)

Net current assets/(liabilities)			13,736			(4,143)

Total assets less current liabilities			33,008			16,475


Provisions for liabilities			(3,855)			(4,124)


Net assets			29,153			12,351

Capital and reserves
Called up share capital	3		100			100
Profit and loss account			29,053			12,251

Shareholder's funds			29,153			12,351

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.



M R Inman
Director
Approved by the board on 9 May 2016

MI Windows Limited
Notes to the Abbreviated Accounts
for the year ended 31 March 2016

1	Accounting policies

	Basis of preparation
	The accounts 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 the value, net of value added tax and discounts, of sales of PVC windows and conservatories to customers.

	Depreciation
	Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

	Displays and office equipment			20% reducing balance
	Motor vehicles			25% reducing balance

	Stocks
	Stock is valued at the lower of cost and net realisable value. Cost is determined on a first in first out basis. Net relisable value represents estimated selling price less costs to complete and sell. Provision is made for slow moving, obsolete or damaged stock where the net relisable value is less than cost.

	Deferred taxation
	Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.


2	Tangible fixed assets					£

	Cost
	At 1 April 2015					31,090
	Additions					923
	At 31 March 2016					32,013

	Depreciation
	At 1 April 2015					10,472
	Charge for the year					2,269
	At 31 March 2016					12,741

	Net book value
	At 31 March 2016					19,272
	At 31 March 2015					20,618


3	Share capital	Nominal		2016		2016		2015
value			Number		£		£
	Allotted, called up and fully paid:
	Ordinary shares	£1 each		100		100		100