Maskdean_Limited - Accounts

MASKDEAN LIMITED - Company Information

Print Friendly Version

Maskdean Limited

Unaudited Abbreviated Accounts

For the year ended 29 February 2016

Company Registration No. 04972750 (England and Wales)

Maskdean Limited

Contents

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

Maskdean Limited

Abbreviated Balance Sheet

As at 29 February 2016

Page 1

2016

2015

Notes

Fixed assets

Tangible assets

289

Current assets

Stocks

1,654,583

2,402,360

Debtors

132,315

86,342

Cash at bank and in hand

2,499,238

630,714

4,286,136

3,119,416

Creditors: amounts falling due within one year

(261,686)

(56,382)

Net current assets

4,024,450

3,063,034

Total assets less current liabilities

4,024,450

3,063,323

Capital and reserves

Called up share capital

100

Profit and loss account

4,024,350

3,063,223

Shareholders' funds

4,024,450

3,063,323

For the financial year ended 29 February 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 29 November 2016

S Morris

Director

Company Registration No. 04972750

Maskdean Limited

Notes to the Abbreviated Accounts

For the year ended 29 February 2016

Page 2

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents the invoiced value of goods and services provided.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Computer equipment

straight line over 3 years

1.5

Stock

Stocks are stated at the lower of cost and net realisable value. Cost includes all direct costs incurred in bringing the stocks to their present location and condition.

1.6

Deferred taxation

In accordance with FRS 19, deferred tax is recognised as a liability or asset if transactions or events that give the company the obligation to pay more tax in future or a right to pay less tax in future have occurred by the balance sheet date.

1.7

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

Maskdean Limited

Notes to the Abbreviated Accounts (Continued)

For the year ended 29 February 2016

Page 3

Fixed assets

Tangible assets

Cost

At 1 March 2015 & at 29 February 2016

1,533

Depreciation

At 1 March 2015

1,244

Charge for the year

289

At 29 February 2016

1,533

Net book value

At 29 February 2016

At 28 February 2015

289

Share capital

2016

2015

Allotted, called up and fully paid

100 Ordinary shares of £1 each

100

Transactions with directors

Included in other debtors is an amount of £44,000 due from the directors (2015 - included in other creditors is an amount of £48,997 due to the directors).

During 2015, dividends of £nil (2015: £85,000) were paid out to C Morris.