M.S. Shirts Box Company Limited - Period Ending 2015-12-31

Registration number: 02066040

M.S. Shirts Box Company Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2015
 

M.S. Shirts Box Company Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

M.S. Shirts Box Company Limited
(Registration number: 02066040)
Abbreviated Balance Sheet at 31 December 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					44,719			54,694
Current assets
Stocks					1,850			1,150
Debtors					95,627			111,269
Cash at bank and in hand					68,284			50,171
					165,761			162,590
Creditors: Amounts falling due within one year					(156,490)			(153,417)
Net current assets					9,271			9,173
Total assets less current liabilities					53,990			63,867
Creditors: Amounts falling due after more than one year					(4,634)			-
Provisions for liabilities					(8,944)			(10,955)
Net assets					40,412			52,912
Capital and reserves
Called up share capital		3			46			46
Capital redemption reserve					54			54
Profit and loss account					40,312			52,812
Shareholders' funds					40,412			52,912

For the year ending 31 December 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 22 June 2016 and signed on its behalf by:

S J Shirt
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

M.S. Shirts Box Company Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	15% on reducing balance
Fixtures, fittings and equipment	15% on reducing balance
Motor vehicles	25% on reducing balance

Stock

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, 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.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

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M.S. Shirts Box Company Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 January 2015		80,346			80,346
Additions		4,000			4,000
Disposals		(5,250)			(5,250)
At 31 December 2015		79,096			79,096
Depreciation
At 1 January 2015		25,652			25,652
Charge for the year		11,945			11,945
Eliminated on disposals		(3,220)			(3,220)
At 31 December 2015		34,377			34,377
Net book value
At 31 December 2015		44,719			44,719
At 31 December 2014		54,694			54,694

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
"A" Ordinary of £1 each		23			23			23			23
"B" Ordinary of £1 each		23			23			23			23
		46			46			46			46

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