Mroke Limited - Period Ending 2016-03-31

Registration number: 06494044

Mroke Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2016
 

Sandwell Accountancy Services Limited
Certified Public Accountants
Old Bank Buildings
Upper High Street
Cradley Heath
West Midlands
B64 5HY

Mroke Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2 to 3

Notes to the Abbreviated Accounts 4 to 6

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 6) have been prepared.

Certified Public Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Mroke Limited
for the Year Ended 31 March 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Mroke Limited for the year ended 31 March 2016 set out on pages from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Mroke Limited. Our work has been undertaken solely to prepare for your approval the accounts of Mroke Limited and state those matters that we have agreed to state to them. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Mroke Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Mroke Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Mroke Limited. You consider that Mroke Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Mroke Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Sandwell Accountancy Services Limited
Certified Public Accountants
Old Bank Buildings
Upper High Street
Cradley Heath
West Midlands
B64 5HY

23 December 2016

Page 1

Mroke Limited
(Registration number: 06494044)
Abbreviated Balance Sheet at 31 March 2016

		Note			2016 £			2015 £
Fixed assets
Intangible fixed assets					570,000			665,000
Tangible fixed assets					712,789			712,518
					1,282,789			1,377,518
Current assets
Stocks					43,000			43,000
Debtors					193,913			239,471
Cash at bank and in hand					29,791			63,870
					266,704			346,341
Creditors: Amounts falling due within one year					(38,766)			(185,758)
Net current assets					227,938			160,583
Total assets less current liabilities					1,510,727			1,538,101
Creditors: Amounts falling due after more than one year					(574,663)			(535,573)
Net assets					936,064			1,002,528
Capital and reserves
Called up share capital		4			2			2
Profit and loss account					936,062			1,002,526
Shareholders' funds					936,064			1,002,528

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 22 December 2016

The notes on pages 4 to 6 form an integral part of these financial statements.
Page 2

Mroke Limited
(Registration number: 06494044)
Abbreviated Balance Sheet at 31 March 2016
......... continued

......................................... Dr S S Mroke Director

The notes on pages 4 to 6 form an integral part of these financial statements.
Page 3

Mroke 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 in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

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

Asset class	Amortisation method and rate
Goodwill	10% Straight Line

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
Plant and machinery	20% Reducing balance basis
Fixtures and fittings	20% Reducing balance basis
Office equipment	20% Reducing balance basis

Investment properties

Certain of the company's properties are held for long-term investment. Investment properties are accounted for in accordance with the FRSSE, as follows: No depreciation is provided in respect of investment properties and they are revalued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year. This treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

Page 4

Mroke Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

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.

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 April 2015		950,000			753,512			1,703,512
Additions		-			14,914			14,914
At 31 March 2016		950,000			768,426			1,718,426
Depreciation
At 1 April 2015		285,000			40,994			325,994
Charge for the year		95,000			14,643			109,643
At 31 March 2016		380,000			55,637			435,637
Net book value
At 31 March 2016		570,000			712,789			1,282,789
At 31 March 2015		665,000			712,518			1,377,518

3

Creditors

Included in the creditors are the following amounts due after more than five years:

		2016 £			2015 £
After more than five years by instalments		110,989			152,833

Page 5

Mroke Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

4	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		2			2			2			2

Page 6