Micari Engineering Solutions Limited - Abbreviated accounts

Micari Engineering Solutions Limited - Abbreviated accounts


Registered number
05722576
Micari Engineering Solutions Limited
Abbreviated Accounts
31 March 2016
Micari Engineering Solutions Limited
Registered number: 05722576
Abbreviated Balance Sheet
as at 31 March 2016
Notes 2016 2015
£ £
Fixed assets
Tangible assets 3 44,106 30,889
Current assets
Stocks 28,165 15,215
Debtors 49,494 247,803
Cash at bank and in hand 56,911 40,288
134,570 303,306
Creditors: amounts falling due within one year (68,294) (145,727)
Net current assets 66,276 157,579
Total assets less current liabilities 110,382 188,468
Creditors: amounts falling due after more than one year (12,112) (7,541)
Net assets 98,270 180,927
Capital and reserves
Called up share capital 4 1 1
Profit and loss account 98,269 180,926
Shareholder's funds 98,270 180,927
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
M J Scott
Director
Approved by the board on 19 September 2016
Micari Engineering Solutions Limited
Notes to the Abbreviated Accounts
for the year ended 31 March 2016
1 Accounting policies
Basis of preparation
The accounts 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 the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and machinery 25% reducing balance
Motor vehicles 25% reducing balance
Stocks
Stock is valued at the lower of cost and net realisable value.
Leasing and hire purchase commitments
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.

The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Rentals paid under operating leases are charged to income on a straight line basis over the lease term.
2 Intangible fixed assets £
Cost
At 1 April 2015 7,500
At 31 March 2016 7,500
Amortisation
At 1 April 2015 7,500
At 31 March 2016 7,500
Net book value
At 31 March 2016 -
3 Tangible fixed assets £
Cost
At 1 April 2015 69,823
Additions 27,978
Disposals (1,050)
At 31 March 2016 96,751
Depreciation
At 1 April 2015 38,934
Charge for the year 14,702
On disposals (991)
At 31 March 2016 52,645
Net book value
At 31 March 2016 44,106
At 31 March 2015 30,889
4 Share capital Nominal 2016 2016 2015
value Number £ £
Allotted, called up and fully paid:
Ordinary shares £1 each 1 1 1
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