Michael Brothers (of Margate) Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 00729411 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2016

FOR

MICHAEL BROTHERS (OF MARGATE) LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

A A Hagemichael

Mrs E Hagemichael

E A Hagemichael

Mrs G Hagemichael

SECRETARY:

A A Hagemichael

REGISTERED OFFICE:

39 Hawley Square

Margate

Kent

CT9 1NZ

REGISTERED NUMBER:

00729411 (England and Wales)

ACCOUNTANTS:

Percy Gore & Co

Chartered Accountants

39 Hawley Square

Margate

Kent

CT9 1NZ

BANKERS:

National Westminster Bank Plc

13 Cecil Square

Margate

Kent

CT9 1XY

FIXED ASSETS

Tangible assets

2

5,900

6,555

Investment property

3

1,650,000

1,655,900

1,656,555

CURRENT ASSETS

Debtors

2,987

3,483

Cash at bank and in hand

50,120

12,144

53,107

15,627

CREDITORS

Amounts falling due within one year

59,103

49,100

NET CURRENT LIABILITIES

(5,996

)

(33,473

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,649,904

1,623,082

PROVISIONS FOR LIABILITIES

951

1,032

NET ASSETS

1,648,953

1,622,050

CAPITAL AND RESERVES

Called up share capital

4

100

Revaluation reserve

1,574,444

Profit and loss account

74,409

47,506

SHAREHOLDERS' FUNDS

1,648,953

1,622,050

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 29 September 2016 and were signed on its behalf
by:

A A Hagemichael - Director

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).

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.

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

44,812

DEPRECIATION

At 1 April 2015

38,257

Charge for year

655

At 31 March 2016

38,912

NET BOOK VALUE

At 31 March 2016

5,900

At 31 March 2015

6,555

3.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 April 2015

and 31 March 2016

1,650,000

NET BOOK VALUE

At 31 March 2016

1,650,000

At 31 March 2015

1,650,000

4.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

2016

2015

value:

£

100

Share capital 1

£1

100

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

On 13th March 2013, the company arranged an overdraft facility with Nat West Bank. The three directors have

provided personal guarantees to the bank totalling £70,000.