Madventure Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 06809461 (England and Wales)

MADVENTURE LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 28 FEBRUARY 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

to

4

DIRECTORS:

W G Thomson

Miss K E Brown

REGISTERED OFFICE:

Ross House

The Square

Stow On The Wold

Gloucestershire

GL54 1AF

REGISTERED NUMBER:

06809461 (England and Wales)

ACCOUNTANTS:

William Hinton Limited

Chartered Accountants

Ross House

The Square

Stow On The Wold

Gloucestershire

GL54 1AF

FIXED ASSETS

Tangible assets

2

67,180

85,458

CURRENT ASSETS

Debtors

18,933

15,638

Cash at bank

7,834

8,741

26,767

24,379

CREDITORS

Amounts falling due within one year

255,827

209,856

NET CURRENT LIABILITIES

(229,060

)

(185,477

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(161,880

)

(100,019

)

CAPITAL AND RESERVES

Called up share capital

3

10,000

Profit and loss account

(171,880

)

(110,019

)

SHAREHOLDERS' FUNDS

(161,880

)

(100,019

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2016 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 6 June 2016 and were signed on its behalf by:

W G Thomson - 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

-

10% per annum on cost

Fixtures and fittings

-

33% on cost

Motor vehicles

-

25% per annum on cost

Computer equipment

-

33% on cost

Deferred tax

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

balance sheet date.

Hire purchase and leasing commitments

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 March 2015

200,521

Additions

2,265

Disposals

(2,000

)

At 28 February 2016

200,786

DEPRECIATION

At 1 March 2015

115,063

Charge for year

20,543

Eliminated on disposal

(2,000

)

At 28 February 2016

133,606

NET BOOK VALUE

At 28 February 2016

67,180

At 28 February 2015

85,458

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

10,000

Ordinary

£1

10,000