MB Diamond Drilling Ltd - Abbreviated accounts 16.1

REGISTERED NUMBER: 07399756 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 December 2015

for

MB Diamond Drilling Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

M Barnard

REGISTERED OFFICE:

69 Knowl Piece

Wilbury Way

Hitchin

Hertfordshire

SG4 0TY

REGISTERED NUMBER:

07399756 (England and Wales)

ACCOUNTANTS:

Godfrey Laws & Co Limited

69 Knowl Piece

Wilbury Way

Hitchin

Hertfordshire

SG4 0TY

FIXED ASSETS

Tangible assets

2

155,911

68,849

CURRENT ASSETS

Debtors

258,138

248,491

Cash at bank and in hand

19,413

43,101

277,551

291,592

CREDITORS

Amounts falling due within one year

180,219

172,691

NET CURRENT ASSETS

97,332

118,901

TOTAL ASSETS LESS CURRENT
LIABILITIES

253,243

187,750

CREDITORS

Amounts falling due after more than one
year

(61,890

)

(20,673

)

PROVISIONS FOR LIABILITIES

(31,182

)

(13,770

)

NET ASSETS

160,171

153,307

CAPITAL AND RESERVES

Called up share capital

3

100

Profit and loss account

160,071

153,207

SHAREHOLDERS' FUNDS

160,171

153,307

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2015 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 6 July 2016 and were signed by:

M Barnard - 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 etc

-

10% on cost

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

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 January 2015

83,113

Additions

92,933

At 31 December 2015

176,046

DEPRECIATION

At 1 January 2015

14,264

Charge for year

5,871

At 31 December 2015

20,135

NET BOOK VALUE

At 31 December 2015

155,911

At 31 December 2014

68,849

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.15

31.12.14

value:

£

100

Ordinary

£1

100

4.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year dividends amounting to £104,000 were paid to the director (2014: £75,000)