Mark D Gray Limited - Period Ending 2016-03-31

Registration number: SC244953

Mark D Gray Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2016
 

Mark D Gray Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Mark D Gray Limited
for the Year Ended 31 March 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Mark D Gray Limited for the year ended 31 March 2016 set out on the relevant pages from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Mark D Gray Limited, as a body, in accordance with the terms of our engagement letter dated 30 April 2013. Our work has been undertaken solely to prepare for your approval the accounts of Mark D Gray Limited and state those matters that we have agreed to state to them, as a body, in this report . To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Mark D Gray Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Mark D Gray Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Mark D Gray Limited. You consider that Mark D Gray Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Mark D Gray Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Total Accounting Ltd.
Moncrieff House
10 Moncrieff Street
Paisley
PA3 2BE

3 November 2016

Page 1

Mark D Gray Limited
(Registration number: SC244953)
Abbreviated Balance Sheet at 31 March 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					-			4,226
Current assets
Stocks					4,459			4,422
Debtors					137			3,980
Cash at bank and in hand					14,738			3,282
					19,334			11,684
Creditors: Amounts falling due within one year					(16,014)			(13,902)
Net current assets/(liabilities)					3,320			(2,218)
Net assets					3,320			2,008
Capital and reserves
Called up share capital		3			10			10
Profit and loss account					3,310			1,998
Shareholders' funds					3,320			2,008

For the year ended 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 director acknowledges his 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 director on 3 November 2016

.........................................
Mark Douglas Gray
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Mark D Gray Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

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).

The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

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
Motor vehicles	25% on cost
Office equipment	25% on cost

Stock and work in progress

Stock and work in progress are 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 April 2015		23,395			23,395
Disposals		(16,904)			(16,904)
At 31 March 2016		6,491			6,491
Depreciation
At 1 April 2015		19,169			19,169
Eliminated on disposals		(12,678)			(12,678)
At 31 March 2016		6,491			6,491
Net book value
At 31 March 2016		-			-
At 31 March 2015		4,226			4,226

Page 3

Mark D Gray Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		10			10			10			10

Page 4