Accounts filed on 28-02-2016

Accounts filed on 28-02-2016

REFRIGERATION (MITTON) LIMITED - Company Information

Print Friendly Version

24689442015-03-012016-02-28falsetruehttp://www.companieshouse.gov.uk/pt:PlantMachinery2015-02-28http://www.companieshouse.gov.uk/cd:Director12015-03-012016-02-28http://www.companieshouse.gov.uk/pt:PlantMachinery2016-02-28http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12015-03-012016-02-28http://www.companieshouse.gov.uk/pt:MotorCars2015-02-28http://www.companieshouse.gov.uk/pt:PlantMachinery2015-03-012016-02-28http://www.companieshouse.gov.uk/cd:OrdinaryShareClass22015-03-012016-02-28http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12016-02-28http://www.companieshouse.gov.uk/pt:MotorCars2016-02-28http://www.companieshouse.gov.uk/cd:OrdinaryShareClass22016-02-28http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12015-02-28http://www.companieshouse.gov.uk/cd:OrdinaryShareClass22015-02-28http://www.companieshouse.gov.uk/pt:MotorCars2015-03-012016-02-28http://www.companieshouse.gov.uk/2014-03-012015-02-28http://www.companieshouse.gov.uk/2015-03-012016-02-28http://www.companieshouse.gov.uk/2015-02-28http://www.companieshouse.gov.uk/2016-02-28http://www.companieshouse.gov.uk/cd:EntityAccountantsOrAuditors2015-03-012016-02-28http://www.companieshouse.gov.uk/2015-02-28iso4217:GBPxbrli:sharesxbrli:pure
Registered number: 2468944
Refrigeration (Mitton) Limited
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 28/02/2016
Prepared By:
N B Lancaster & Co
Chartered Accountants
6 Brunswick Street
Carlisle
Cumbria
CA1 1PN
Refrigeration (Mitton) Limited
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 28/02/2016
INDEX TO THE ACCOUNTS
Abbreviated Balance Sheet2
Notes to the Abbreviated Accounts3
The company's registered number is 2468944
Refrigeration (Mitton) Limited
Registered Number: 2468944
BALANCE SHEET AT 28/02/2016
20162015
Notes££
FIXED ASSETS
Tangible assets247,30852,521
CURRENT ASSETS
Stock83,208101,281
Debtors (amounts falling due within one year)3286,147371,267
Cash at bank and in hand5,50911,221
374,864483,769
CREDITORS: Amounts falling due within one year224,970344,995
NET CURRENT ASSETS149,894138,774
TOTAL ASSETS LESS CURRENT LIABILITIES197,202191,295
CREDITORS: Amounts falling due after more than one year4-5,555
NET ASSETS197,202185,740
CAPITAL AND RESERVES
Called up share capital5165,010165,010
Profit and loss account32,19220,730
SHAREHOLDERS' FUNDS197,202185,740
For the year ending 28/02/2016 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 22/11/2016 and signed on their behalf by
A D C Mitton
Director
Refrigeration (Mitton) Limited
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 28/02/2016
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1b. Cash Flow Statement
The Company is exempt from including a statement of cash flows in its accounts in accordance with Financial Reporting Standard for Smaller Entities (effective January 2015).
1c. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant, Machinery and Equipmentreducing balance 10%
Motor Vehiclesreducing balance 25%
1d. Stocks
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.
1e. Taxation
Corporation tax payable is provided on taxable profits at the current rates.
Provision is made for deferred taxation in so far as a liability or asset has arisen as a result of transactions that had occurred by the balance sheet date and have given rise to an obligation to pay more tax in the future, or the right to pay less tax in the future. An asset has not been recognised to the extent that the transfer of economic benefits in the future is uncertain. Deferred tax assets and liabilities recognised have not been discounted.
1f. Pension Costs
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
1g. Turnover
Turnover represents the invoiced value of goods and services supplied by the company, net of value added tax and trade discounts.
Refrigeration (Mitton) Limited
2. TANGIBLE FIXED ASSETS
Plant Machinery and
EquipmentMotor VehiclesTotal
£££
Cost
At 01/03/2015140,54396,526237,069
Additions2,227-2,227
Disposals-(20,000)(20,000)
At 28/02/2016142,77076,526219,296
Depreciation
At 01/03/201592,12792,421184,548
Disposals-(18,200)(18,200)
For the year5,0645765,640
At 28/02/201697,19174,797171,988
Net Book Amounts
At 28/02/201645,5791,72947,308
At 28/02/201548,4164,10552,521
3. DEBTORS 20162015
££
Amounts falling due within one year:
Trade debtors132,771242,749
Other debtors153,376128,518
286,147371,267
Other debtors includes amount owing by holding company - £151,293, (2015 - £126,179)
4. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
20162015
££
Bank loans and overdrafts-5,555
-5,555
Refrigeration (Mitton) Limited
5. SHARE CAPITAL 20162015
££
Allotted, issued and fully paid:
165000 "A" Ordinary shares of £1 each165000165000
10 "B" Ordinary shares of £1 each1010
165,010165,010
6. TURNOVER
The turnover and pre-tax result is attributable to refrigeration engineers and distributors and suppliers of air-conditioning and refrigeration equipment.
20162015
££
Sales and work done - Sales department354,930643,416
Sales and work done - Service department568,990628,806
923,9201,272,222
7. TRANSACTIONS WITH DIRECTORS
Dividends of £18,592 were paid to the director A D C Mitton during the year.
8. CONTROLLING PARTY
Mitton Refrigeration Limited (a company controlled by Mrs W Mitton) is the ultimate holding company of Refrigeration (Mitton) Limited