Abbreviated Company Accounts - MOLEND LIMITED
Abbreviated Company Accounts - MOLEND LIMITED
Registered Number 01154642
MOLEND LIMITED
Abbreviated Accounts
29 February 2016
MOLEND LIMITED Registered Number 01154642
Abbreviated Balance Sheet as at 29 February 2016
Notes | 2016 | 2015 | |
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£ | £ | ||
Fixed assets | |||
Tangible assets | 2 |
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Current assets | |||
Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
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Net current assets (liabilities) |
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Total assets less current liabilities |
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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital | 3 |
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Other reserves |
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Profit and loss account |
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Shareholders' funds |
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For the year ending 29 February 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 directors acknowledge their 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 Board on
And signed on their behalf by:
MOLEND LIMITED Registered Number 01154642
Notes to the Abbreviated Accounts for the period ended 29 February 2016
1Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
Tangible assets depreciation policy
Freehold and Long Leasehold Properties 0.5% of cost
Fixtures, Fittings & Equipmen 15% of W.D.V
Motor Vehicle 25% of W.D.V.
Valuation information and policy
Other accounting policies
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet where transactions or events have occurred at that date that will result in an obligation to pay more, or right to pay less or to receive more tax, with the following exceptions:
Provision is made for tax on gains arising from the revaulation ( and similar fair value adjustments) of fixed assets, and gains on disposal of fixed assets that have been rolled over into replacements asset, only to the extent that, at the balance sheet date, there is a binding agreement to dispose of the assets concerned. However, no provision is made where, on the basis of all available eveidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled over into replacement assets and charged to tax only where the replacement assets are sold. Deferred tax assets are recongised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on the tax rates and laws enacted or substantively at the balance sheet date.
Financial Instruments.
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either 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.
£ | |
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Cost | |
At 1 March 2015 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 29 February 2016 |
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Depreciation | |
At 1 March 2015 |
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Charge for the year |
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On disposals |
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At 29 February 2016 |
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Net book values | |
At 29 February 2016 | 953,572 |
At 28 February 2015 | 973,480 |
4Transactions with directors
Name of director receiving advance or credit: | ||
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Description of the transaction: | ||
Balance at 1 March 2015: | £ |
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Advances or credits made: | £ |
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Advances or credits repaid: | £ |
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Balance at 29 February 2016: | £ |