Modern Corporation Limited - Abbreviated accounts 16.1
Modern Corporation Limited - Abbreviated accounts 16.1
| MODERN CORPORATION LIMITED |
| ABBREVIATED UNAUDITED ACCOUNTS |
| FOR THE YEAR ENDED 31ST MARCH 2016 |
| MODERN CORPORATION LIMITED (REGISTERED NUMBER: 03032587) |
| CONTENTS OF THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31ST MARCH 2016 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 4 |
| Report of the Accountants | 6 |
| MODERN CORPORATION LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31ST MARCH 2016 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| MODERN CORPORATION LIMITED (REGISTERED NUMBER: 03032587) |
| ABBREVIATED BALANCE SHEET |
| 31ST MARCH 2016 |
| 2016 | 2015 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 2 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 3 |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| 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. |
| MODERN CORPORATION LIMITED (REGISTERED NUMBER: 03032587) |
| ABBREVIATED BALANCE SHEET - continued |
| 31ST MARCH 2016 |
| The financial statements were approved by the director on |
| MODERN CORPORATION LIMITED (REGISTERED NUMBER: 03032587) |
| NOTES TO THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31ST MARCH 2016 |
| 1. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements are prepared under the historical cost convention, |
| Depreciation |
| Tangible fixed assets are depreciated over their expected useful lives at the following annual rates: |
| Plant and equipment | Between 10% and 25% on book value |
| Fixtures & fittings | 10% on book value |
| Computer equipment | 30% on book value |
| Stocks and work in progress |
| Stocks and work in progress are valued at the lower of cost and net realisable value, cost being |
| determined on a first-in, first out basis. |
| Deferred taxation |
| Provisions for taxation deferred as a result of timing differences are made, using the liability method, |
| to the extent that the timing differences are expected to reverse in the forseeable future. |
| 2. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1st April 2015 |
| Disposals | ( |
) |
| At 31st March 2016 |
| DEPRECIATION |
| At 1st April 2015 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| Impairments |
| At 31st March 2016 |
| NET BOOK VALUE |
| At 31st March 2016 |
| At 31st March 2015 |
| MODERN CORPORATION LIMITED (REGISTERED NUMBER: 03032587) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| FOR THE YEAR ENDED 31ST MARCH 2016 |
| 3. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2016 | 2015 |
| value: | £ | £ |
| Ordinary | £1 |
| 4. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 31st March 2016 |
| and 31st March 2015: |
| 2016 | 2015 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid |
| Balance outstanding at end of year |
| MODERN CORPORATION LIMITED |
| REPORT OF THE ACCOUNTANTS TO THE DIRECTOR OF |
| MODERN CORPORATION LIMITED |
| The following reproduces the text of the report prepared for the director in respect of the company's |
| annual unaudited financial statements, from which the unaudited abbreviated accounts (set out on |
| pages two to five) have been prepared. |
| As described on the balance sheet you are responsible for the preparation of the financial statements for the year ended 31st March 2016 set out on pages three to nine and you consider that the company is exempt from an audit. |
| In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us. |
| Chartered Certified Accountants |
| Date: ............................................. |