Mere Engineering Limited - Abbreviated accounts 16.1

Mere Engineering Limited - Abbreviated accounts 16.1

MERE ENGINEERING LIMITED - Company Information

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REGISTERED NUMBER: 02441971 (England and Wales)










Abbreviated Accounts

for the Year Ended

31 December 2015

for

Mere Engineering Limited

Mere Engineering Limited (Registered number: 02441971)






Contents of the Abbreviated Accounts
for the Year Ended 31 December 2015




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3

Mere Engineering Limited

Company Information
for the Year Ended 31 December 2015







DIRECTOR: J O Goldsmith





REGISTERED OFFICE: Unit 2C
Quarryfields Industrial Estate
Mere
Wiltshire
BA12 6LA





REGISTERED NUMBER: 02441971 (England and Wales)





ACCOUNTANTS: Godfrey Mansell & Co
Hales Court
Stourbridge Road
Halesowen
West Midlands
B63 3TT
Page 1
Mere Engineering Limited (Registered number: 02441971)

Abbreviated Balance Sheet
31 December 2015

2015 2014
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 2 39 52
Investments 3 54,400 54,400
Investment property 4 225,000 225,000
279,439 279,452

CURRENT ASSETS
Stocks 19,003 19,503
Debtors 218,442 252,345
Cash at bank 63,185 58,714
300,630 330,562
CREDITORS
Amounts falling due within one year 231,965 267,579
NET CURRENT ASSETS 68,665 62,983
TOTAL ASSETS LESS CURRENT
LIABILITIES
348,104
342,435

CAPITAL AND RESERVES
Called up share capital 5 120,600 120,600
Revaluation reserve 56,076 56,076
Profit and loss account 171,428 165,759
SHAREHOLDERS' FUNDS 348,104 342,435

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 27 September 2016 and were signed by:





J O Goldsmith - Director


The notes form part of these abbreviated accounts

Page 2
Mere Engineering Limited (Registered number: 02441971)

Notes to the Abbreviated Accounts
for the Year Ended 31 December 2015

1. ACCOUNTING POLICIES

Accounting convention
The financial statements have been prepared under the historical cost convention as modified by the revaluation
of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective January
2015).

Turnover
Turnover represents net invoiced sales of services, 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.


Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in
market value is transferred to a revaluation reserve.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow
moving items.

2. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 January 2015
and 31 December 2015 2,531
DEPRECIATION
At 1 January 2015 2,479
Charge for year 13
At 31 December 2015 2,492
NET BOOK VALUE
At 31 December 2015 39
At 31 December 2014 52

3. FIXED ASSET INVESTMENTS
Investments
other
than
loans
£   
COST
At 1 January 2015
and 31 December 2015 54,400
NET BOOK VALUE
At 31 December 2015 54,400
At 31 December 2014 54,400

Page 3 continued...
Mere Engineering Limited (Registered number: 02441971)

Notes to the Abbreviated Accounts - continued
for the Year Ended 31 December 2015

3. FIXED ASSET INVESTMENTS - continued

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Associated company

Goldsmith & Young Limited
Nature of business: Repair and selling of classic cars
%
Class of shares: holding
Ordinary 22.00

4. INVESTMENT PROPERTY
Total
£   
COST OR VALUATION
At 1 January 2015
and 31 December 2015 225,000
NET BOOK VALUE
At 31 December 2015 225,000
At 31 December 2014 225,000

5. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2015 2014
value: £    £   
7,500 Ordinary £1 7,500 7,500
113,100 15 % Preference £1 113,100 113,100
120,600 120,600

The preference shares are redeemable and carry rights to a 15 % cumulative dividend, no provision has been
included in the accounts for the arrears outstanding since the issue of the shares in 1996. The preference shares
also carry the rights to be converted into ordinary shares if the shares had not been redeemed by 2001.

6. RELATED PARTY DISCLOSURES

The company has a 22 % holding in Goldsmith & Young Limited a company which is controlled by Mr J O
Goldsmith. During the year the company received rent amounting to £15,400 (2014 £16,200) and accrued
interest receivable £5,240 (2014 £5,113) from Goldsmith & Young Limited. At 31 December 2015 Goldsmith &
Young Limited owed the company £215,705 (2014 £210,465), this amount is included in trade debtors. There
are no agreed terms for the repayment of these monies.

The company accrued interest payable amounting to £5,623 (2014 £5,486 ) to Polymer Limited a company
controlled by a shareholder of the company. At 31 December 2015 the company owed Polymer Limited £230,545
(2014 £224,922).

All the above transactions were carried out at arms length.

Page 4