MNS Accident Repair Centre Limited - Period Ending 2016-03-31

Registration number: 03935070

MNS Accident Repair Centre Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2016
 

Pattinsons Accountancy Limited
Accountants
8 The Courtyard
Goldsmith Way
Eliot Business Pk
Nuneaton
Warwickshire
CV10 7RJ

MNS Accident Repair Centre Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

MNS Accident Repair Centre Limited
(Registration number: 03935070)
Abbreviated Balance Sheet at 31 March 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					354			416
Current assets
Stocks					1,700			2,100
Debtors					7,569			6,849
Cash at bank and in hand					14,590			19,734
					23,859			28,683
Creditors: Amounts falling due within one year					(24,000)			(28,379)
Net current (liabilities)/assets					(141)			304
Net assets					213			720
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					113			620
Shareholders' funds					213			720

For the year ending 31 March 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 director acknowledges his 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 director on 30 November 2016

.........................................
M. R. Harrold
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

MNS Accident Repair Centre Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any
estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Computer equipment	33% straight line
Plant and machinery	15% reducing balance

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 2

MNS Accident Repair Centre Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 April 2015		5,793			5,793
At 31 March 2016		5,793			5,793
Depreciation
At 1 April 2015		5,377			5,377
Charge for the year		62			62
At 31 March 2016		5,439			5,439
Net book value
At 31 March 2016		354			354
At 31 March 2015		416			416

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

Page 3