Moss Development Company Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 05695309 (England and Wales)

ABBREVIATED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2016

FOR

MOSS DEVELOPMENT COMPANY LIMITED

Page

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

3

FIXED ASSETS

Tangible assets

2

17,782

21,593

CURRENT ASSETS

Stocks

237,670

278,022

Debtors

53,274

19,081

Cash at bank

5,334

10,865

296,278

307,968

CREDITORS

Amounts falling due within one year

186,025

203,893

NET CURRENT ASSETS

110,253

104,075

TOTAL ASSETS LESS CURRENT LIABILITIES

128,035

125,668

CREDITORS

Amounts falling due after more than one year

-

(1,009

)

PROVISIONS FOR LIABILITIES

(3,556

)

(4,319

)

NET ASSETS

124,479

120,340

CAPITAL AND RESERVES

Called up share capital

3

2

2

Profit and loss account

124,477

120,338

SHAREHOLDERS' FUNDS

124,479

120,340

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 December 2016 and were signed on its behalf by:

Mr C W Moss - 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 invoiced sales of goods and services which relate to the year under review, excluding value

added tax. Where sales relating to the year were invoiced in a different year, appropriate adjustments have

been made through trade debtors.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and equipment

-

15% on reducing balance

Office equipment

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those

held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance

leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

48,823

Additions

1,287

Disposals

(116

)

At 31 March 2016

49,994

DEPRECIATION

At 1 April 2015

27,230

Charge for year

5,019

Eliminated on disposal

(37

)

At 31 March 2016

32,212

NET BOOK VALUE

At 31 March 2016

17,782

At 31 March 2015

21,593

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

2

Ordinary

£1

2

2

4.	RELATED PARTY DISCLOSURES

Mr CW Moss and Mrs P Moss

Sole directors and shareholders.

Other debtors include a loan to Mr and Mrs C W Moss. The loan was interest free with no conditions and

repayable on demand. In 2015 other creditors included a loan from Mr and Mrs CW Moss, in respect of funding

provided for property development undertaken by the company.

2016

2015

£

£

Amount due from/(to) related party at the balance sheet date

190

(13,059

)