Martins Plastics Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 01269656 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2016

FOR

MARTINS PLASTICS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mrs M M Fitt

S C O Fitt

SECRETARY:

Mrs M M Fitt

REGISTERED OFFICE:

Heartsease Lane

Norwich

Norfolk

NR7 9NT

REGISTERED NUMBER:

01269656 (England and Wales)

ACCOUNTANTS:

NMP Accounting

Chartered Certified Accountant

3 The Green

Guestwick

Norfolk

NR20 5QA

FIXED ASSETS

Tangible assets

2

8,675

9,739

CURRENT ASSETS

Stocks

37,219

37,887

Debtors

31,078

26,384

Cash at bank and in hand

888

110

69,185

64,381

CREDITORS

Amounts falling due within one year

48,269

59,868

NET CURRENT ASSETS

20,916

4,513

TOTAL ASSETS LESS CURRENT LIABILITIES

29,591

14,252

CREDITORS

Amounts falling due after more than one year

(20,000

)

(5,000

)

PROVISIONS FOR LIABILITIES

(1,637

)

(1,819

)

NET ASSETS

7,954

7,433

CAPITAL AND RESERVES

Called up share capital

3

100

100

Profit and loss account

7,854

7,333

SHAREHOLDERS' FUNDS

7,954

7,433

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 7 June 2016 and were signed on its behalf by:

S C O Fitt - 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

-

25% on cost and 10% on reducing balance

Stocks

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 in respect of all timing differences that have originated but not reversed at

the balance sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

and 31 March 2016

36,782

DEPRECIATION

At 1 April 2015

27,043

Charge for year

1,064

At 31 March 2016

28,107

NET BOOK VALUE

At 31 March 2016

8,675

At 31 March 2015

9,739

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.16

31.3.15

value:

£

£

100

Ordinary

£1

100

100

4.	ULTIMATE CONTROLLING PARTY