MFVD UK Limited - Period Ending 2016-03-31

Registration number: 08887411

MFVD UK Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2016
 

HCB Accountants LLP
29 Wood Street
Stratford upon Avon
Warwickshire
CV37 6JG

MFVD UK Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

MFVD UK Limited
(Registration number: 08887411)
Abbreviated Balance Sheet at 31 March 2016

		Note			31 March 2016 £			31 March 2015 £
Fixed assets
Tangible fixed assets					95,181			160,563
Current assets
Stocks					77,829			92,653
Debtors					46,157			74,696
Cash at bank and in hand					6,272			46,620
					130,258			213,969
Creditors: Amounts falling due within one year					(622,347)			(559,018)
Net current liabilities					(492,089)			(345,049)
Net liabilities					(396,908)			(184,486)
Capital and reserves
Called up share capital		3			1			1
Profit and loss account					(396,909)			(184,487)
Shareholders' deficit					(396,908)			(184,486)

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 her 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 12 December 2016

.........................................
Mrs M F P Van Damme
Director

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

MFVD UK 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).

Going concern

The going concern basis assumes that the company will continue to trade since the company's director has confirmed that she will continue to support the operations of the company for at least one year from the date of approval of these financial statements and thereafter for the foreseeable future. Therefore, the director considers it appropriate to prepare the financial statements on a going concern basis.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods to customers. Income is recognised at the point of sale.

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
Leasehold land and buildings	33% Straight Line basis
Fixtures and fittings	33% Straight Line basis
Office equipment	33% Straight Line basis

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.

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

MFVD UK 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		196,147			196,147
At 31 March 2016		196,147			196,147
Depreciation
At 1 April 2015		35,584			35,584
Charge for the year		65,382			65,382
At 31 March 2016		100,966			100,966
Net book value
At 31 March 2016		95,181			95,181
At 31 March 2015		160,563			160,563

3	Share capital

Allotted, called up and fully paid shares

	31 March 2016						31 March 2015
		No.			£			No.			£
Ordinary Shares of £1 each		1			1			1			1

4

Control

The company is controlled by Dorshare Limited. This is in respect of owning 100% of the issued shares. The ultimate controlling party is Mr and Mrs Van Damme.

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