Abbreviated Company Accounts - METSI TECHNOLOGIES LIMITED

METSI TECHNOLOGIES LIMITED - Company Information

Registered Number 07992172

METSI TECHNOLOGIES LIMITED

Abbreviated Accounts

31 March 2016

METSI TECHNOLOGIES LIMITED Registered Number 07992172

Abbreviated Balance Sheet as at 31 March 2016

	Notes	2016	2015
		£	£
Fixed assets
Tangible assets	2	4,384	1,195
		4,384	1,195
Current assets
Stocks		27,500	-
Debtors		226,930	260,643
Cash at bank and in hand		117,278	113,597
		371,708	374,240
Creditors: amounts falling due within one year		(242,910)	(615,889)
Net current assets (liabilities)		128,798	(241,649)
Total assets less current liabilities		133,182	(240,454)
Creditors: amounts falling due after more than one year		(384,658)	(154,440)
Accruals and deferred income		(1,700)	(1,620)
Total net assets (liabilities)		(253,176)	(396,514)
Capital and reserves
Called up share capital		77	77
Profit and loss account		(253,253)	(396,591)
Shareholders' funds		(253,176)	(396,514)

For the year ending 31 March 2016 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 28 October 2016

And signed on their behalf by:
Mr M J P Hillewaert, Director

METSI TECHNOLOGIES LIMITED Registered Number 07992172

Notes to the Abbreviated Accounts for the period ended 31 March 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible assets depreciation policy
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 - 33% on cost

Other accounting policies
Stocks
Work in progress is valued at the lower of cost and net realisable value. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

2Tangible fixed assets

	£
Cost
At 1 April 2015	4,154
Additions	6,544
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2016	10,698
Depreciation
At 1 April 2015	2,959
Charge for the year	3,355
On disposals	-
At 31 March 2016	6,314
Net book values
At 31 March 2016	4,384
At 31 March 2015	1,195