Moxom Joinery Limited - Period Ending 2015-12-31

Registration number: 06767353

Moxom Joinery Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2015
 

Moxom Joinery Limited
Contents

Page

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 4

Moxom Joinery Limited
(Registration number: 06767353)
Abbreviated Balance Sheet at 31 December 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					33,850			37,123
Current assets
Stocks					5,000			5,000
Debtors					87,358			46,747
Cash at bank and in hand					8,681			38,171
					101,039			89,918
Creditors: Amounts falling due within one year					(118,504)			(120,284)
Net current liabilities					(17,465)			(30,366)
Total assets less current liabilities					16,385			6,757
Provisions for liabilities					(6,770)			(6,653)
Net assets					9,615			104
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					9,515			4
Shareholders' funds					9,615			104

Page 1

Moxom Joinery Limited
(Registration number: 06767353)
Abbreviated Balance Sheet at 31 December 2015

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 27 September 2016 and signed on its behalf by:

Mr K Moxom Director

Mr J P Manley Director

Page 2

Moxom Joinery Limited
Notes to the Abbreviated Accounts
For the Year Ended 31 December 2015

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).

Going concern

The company has net current liabilities at year end which include a loan from the directors. The directors will continue to support the company by providing a loan as is required in order to meet the other liabilities of the company as they fall due. On this basis, the directors consider it appropriate to prepare the accounts on the going concern basis.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers, including work completed and in progress at the balance sheet date.

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% reducing balance per annum
Fixtures, fittings and equipment	15% reducing balance per annum
Motor vehicles	25% reducing balance per annum

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

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.

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 3

Moxom Joinery Limited
Notes to the Abbreviated Accounts
For the Year Ended 31 December 2015

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 January 2015		77,060			77,060
Additions		5,416			5,416
Disposals		(4,054)			(4,054)
At 31 December 2015		78,422			78,422
Depreciation
At 1 January 2015		39,937			39,937
Charge for the year		7,406			7,406
Eliminated on disposals		(2,771)			(2,771)
At 31 December 2015		44,572			44,572
Net book value
At 31 December 2015		33,850			33,850
At 31 December 2014		37,123			37,123

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
A Ordinary Shares of £1 each		50			50			100			100
B Ordinary Shares of £1 each		40			40			-			-
C Ordinary Shares of £1 each		10			10			-			-
		100			100			100			100

New shares allotted

During the year 40 B Ordinary Shares having an aggregate nominal value of £40 were allotted for an aggregate consideration of £40. These shares were allotted due to a share restructure in the Company.

During the year 10 C Ordinary Shares having an aggregate nominal value of £10 were allotted for an aggregate consideration of £10. These shares were allotted due to a share restructure in the Company.

Page 4