MAG Shoe Services Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: 05032201

Abbreviated Unaudited Accounts for the Year Ended 31 March 2016

for

MAG Shoe Services Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

M A Guest

Mrs L M Guest

SECRETARY:

Mrs L M Guest

REGISTERED OFFICE:

31 Jessops Riverside

800 Brightside Lane

Sheffield

South Yorkshire

S9 2RX

REGISTERED NUMBER:

05032201

ACCOUNTANTS:

Sochall Smith Limited

4 Park Square

Newton Chambers Road

Chapeltown

Sheffield

South Yorkshire

S35 2PH

FIXED ASSETS

Tangible assets

2

335,156

247,688

Investments

3

100

335,256

247,788

CURRENT ASSETS

Stocks

25,652

15,260

Debtors

363,771

300,381

Cash at bank

4,424

7,009

393,847

322,650

CREDITORS

Amounts falling due within one year

4

373,720

251,200

NET CURRENT ASSETS

20,127

71,450

TOTAL ASSETS LESS CURRENT
LIABILITIES

355,383

319,238

CREDITORS

Amounts falling due after more than one
year

4

329,649

287,226

NET ASSETS

25,734

32,012

CAPITAL AND RESERVES

Called up share capital

5

2

Profit and loss account

25,732

32,010

SHAREHOLDERS' FUNDS

25,734

32,012

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 18 November 2016 and were signed on its behalf
by:

M A Guest - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of goods, 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.

Plant and machinery

-

25% on reducing balance

Fixtures & equipment

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

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

slow moving items.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's

pension scheme are charged to the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

383,455

Additions

108,136

At 31 March 2016

491,591

DEPRECIATION

At 1 April 2015

135,767

Charge for year

20,668

At 31 March 2016

156,435

NET BOOK VALUE

At 31 March 2016

335,156

At 31 March 2015

247,688

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 April 2015

and 31 March 2016

100

NET BOOK VALUE

At 31 March 2016

100

At 31 March 2015

100

4.

CREDITORS

Creditors include an amount of £ 345,078 (31.3.15 - £ 312,902 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.16

31.3.15

value:

£

2

Ordinary

£1

2