Abbreviated Company Accounts - M & L TOOLING LTD
Abbreviated Company Accounts - M & L TOOLING LTD
Registered Number 04721577
M & L TOOLING LTD
Abbreviated Accounts
31 July 2015
M & L TOOLING LTD Registered Number 04721577
Abbreviated Balance Sheet as at 31 July 2015
Notes | 2015 | 2014 | |
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£ | £ | ||
Fixed assets | |||
Intangible assets | 2 |
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Tangible assets | 3 |
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Current assets | |||
Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year | 4 |
( |
( |
Net current assets (liabilities) |
( |
( |
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Total assets less current liabilities |
( |
( |
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Creditors: amounts falling due after more than one year | 4 |
( |
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Total net assets (liabilities) |
( |
( |
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Capital and reserves | |||
Called up share capital | 5 |
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Revaluation reserve |
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Profit and loss account |
( |
( |
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Shareholders' funds |
( |
( |
For the year ending 31 July 2015 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
And signed on their behalf by:
M & L TOOLING LTD Registered Number 04721577
Notes to the Abbreviated Accounts for the period ended 31 July 2015
1Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
Tangible assets depreciation policy
Plant and machinery - 15% per annum straight line basis
Office equipment - 15% per annum straight line basis
Intangible assets amortisation policy
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.
Goodwill - 20% per annum straight line basis
Other accounting policies
The financial statements have been prepared on a going concern basis.
Stock and work in progress
Stock and work in progress are valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Deferred tax
Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.
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.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.
£ | |
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Cost | |
At 1 August 2014 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 31 July 2015 |
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Amortisation | |
At 1 August 2014 |
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Charge for the year |
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On disposals |
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At 31 July 2015 |
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Net book values | |
At 31 July 2015 | 0 |
At 31 July 2014 | 0 |
£ | |
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Cost | |
At 1 August 2014 |
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Additions |
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Disposals |
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Revaluations |
( |
Transfers |
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At 31 July 2015 |
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Depreciation | |
At 1 August 2014 |
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Charge for the year |
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On disposals |
( |
At 31 July 2015 |
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Net book values | |
At 31 July 2015 | 36,749 |
At 31 July 2014 | 740 |
2015
£ |
2014
£ |
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Secured Debts |
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