Middleton Forge Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 04484265 (England and Wales)

Middleton Forge Limited

Abbreviated Unaudited Accounts for the Year Ended 31 March 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

S M Wallace

Mrs L Wallace

N R Wallace

S M Wallace

SECRETARY:

Mrs L Wallace

REGISTERED OFFICE:

Station Industrial Estate

Middleton in Teesdale

Barnard Castle

Co. Durham

DL12 0NG

REGISTERED NUMBER:

04484265 (England and Wales)

ACCOUNTANTS:

Addison & Co

Ebor House

91 Galgate

Barnard Castle

Co Durham

DL12 8ES

FIXED ASSETS

Intangible assets

2

-

-

Tangible assets

3

152,004

110,546

152,004

110,546

CURRENT ASSETS

Stocks

155,831

157,592

Debtors

905,095

906,684

Investments

2,550

2,550

Cash at bank and in hand

601,305

441,047

1,664,781

1,507,873

CREDITORS

Amounts falling due within one year

688,136

745,009

NET CURRENT ASSETS

976,645

762,864

TOTAL ASSETS LESS CURRENT LIABILITIES

1,128,649

873,410

PROVISIONS FOR LIABILITIES

28,367

20,713

NET ASSETS

1,100,282

852,697

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

1,100,182

852,597

SHAREHOLDERS' FUNDS

1,100,282

852,697

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 14 November 2016 and were signed on its behalf by:

N R Wallace - 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful life of ten years.

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

-

at varying rates on cost

Fixtures and fittings

-

at varying rates on cost

Motor vehicles

-

at varying rates

Computer equipment

-

at varying rates on cost

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due

allowance for obsolete and slow moving items.

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.

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.

The number of directors for whom retirement benefits are accruing under money purchase pension

scheme amounted to 2 (2015 - 2).

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

and 31 March 2016

51,000

AMORTISATION

At 1 April 2015

and 31 March 2016

51,000

NET BOOK VALUE

At 31 March 2016

-

At 31 March 2015

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

389,487

Additions

97,359

Disposals

(20,194

)

At 31 March 2016

466,652

DEPRECIATION

At 1 April 2015

278,941

Charge for year

51,212

Eliminated on disposal

(15,505

)

At 31 March 2016

314,648

NET BOOK VALUE

At 31 March 2016

152,004

At 31 March 2015

110,546

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.16

31.3.15

value:

£

£

100

Ordinary

£1

100

100

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES