Maude & Fox Ltd - Period Ending 2015-10-31

Registration number: 07797082

Maude & Fox Ltd
 
  Annual Report and Unaudited Abbreviated Accounts
 
  for the Year Ended 31 October 2015
 

Maude & Fox Ltd
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Maude & Fox Ltd
(Registration number: 07797082)
Abbreviated Balance Sheet at 31 October 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					4,691			6,854
Current assets
Stocks					40,536			37,099
Debtors					1,393			1,797
Cash at bank and in hand					2,461			1,001
					44,390			39,897
Creditors: Amounts falling due within one year					(40,349)			(32,300)
Net current assets					4,041			7,597
Total assets less current liabilities					8,732			14,451
Creditors: Amounts falling due after more than one year					(81,253)			(80,789)
Net liabilities					(72,521)			(66,338)
Capital and reserves
Called up share capital		3			1,000			1,000
Profit and loss account					(73,521)			(67,338)
Shareholders' deficit					(72,521)			(66,338)

For the year ending 31 October 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 director acknowledges his 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 director on 28 July 2016

.........................................
Mr M J Longmore
Director

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

Maude & Fox Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 October 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 April 2008).

The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.

Going concern

The company made a loss after tax of £6,183 (2014 - £16,197). It had a deficiency of assets at the balance sheet date of £72,521 (2014 - £66,338) and is dependent upon the continued support of its director.

The director has continued his assurance that he will provide sufficient further finance as may prove necessary to meet the company's working capital requirements for the foreseeable future.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

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
Leasehold improvements	5 years straight line
Equipment, fixtures and fittings	25% reducing balance

Stock

Stock and work in progress is valued at the lower of cost and estimated net realisable value. Cost of raw materials is determined on the first in first out basis. In the case of work in progress and finished goods, cost includes all direct expenditure and production overheads based on the normal level of activity. Net realisable value is the price at which the stock can be released in the normal course of business, less further costs to completion of sale.

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.

Page 2

Maude & Fox Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 October 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 November 2014		12,459			12,459
At 31 October 2015		12,459			12,459
Depreciation
At 1 November 2014		5,605			5,605
Charge for the year		2,163			2,163
At 31 October 2015		7,768			7,768
Net book value
At 31 October 2015		4,691			4,691
At 31 October 2014		6,854			6,854

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		1,000			1,000			1,000			1,000

Page 3