MET_Car_Parks_Limited - Accounts
MET_Car_Parks_Limited - Accounts
Company Registration No. 07450343 (England and Wales)
Unaudited Abbreviated Financial Statements
For The Year Ended 31 May 2016
MET CAR PARKS LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF MET CAR PARKS LIMITED FOR THE YEAR ENDED 31 MAY 2016
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The following reproduces the text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited abbreviated financial statements set out on pages 2 to 4 have been prepared.
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of MET Car Parks Limited for the year ended 31 May 2016 set out on pages 3 to 9 from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com/.
This report is made solely to the Board of Directors of MET Car Parks Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of MET Car Parks Limited and state those matters that we have agreed to state to the Board of Directors of MET Car Parks Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www2.accaglobal.com/pubs/members/publications/technical_factsheets/downloads/163.doc. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than MET Car Parks Limited and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that MET Car Parks Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of MET Car Parks Limited. You consider that MET Car Parks 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 financial statements of MET Car Parks 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 financial statements.
Clark Howes Accountants Limited
Chartered Certified Accountants
MET CAR PARKS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MAY 2016
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2016
2015
Notes
£
£
£
£
Fixed assets
Investments
2
Current assets
Cash at bank and in hand
Creditors: amounts falling due within one year
(36,131 )
(56,517 )
Net current liabilities
(36,051 )
(56,437 )
Total assets less current liabilities
Creditors: amounts falling due after more than one year
(2,604,042 )
(2,660,592 )
350,748
273,812
Capital and reserves
Called up share capital
3
Profit and loss account
Shareholders' funds
Directors' responsibilities:
-
-
Approved by the Board for issue on 25 January 2017
Director
Company Registration No. 07450343
MET CAR PARKS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2016
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1
Accounting policies
1.1
Accounting convention
1.2
Compliance with accounting standards
1.3
Leasing
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
1.4
Investments
Investments in subsidiaries are stated in the Financial Statements of the company at cost, less impairment losses, if any.
A subsidiary is an entity over which the company has the power to govern the financial and operating policies so as to obtain benefits from its activities. The company generally has such power when it, directly or indirectly, holds more than 50% of the issued share capital, or controls more than half of the voting power, or controls the composition of the board of directors.
1.5
Deferred taxation
Deferred taxation is calculated on an un-discounted basis at the tax rates that are expected to apply in the periods when the timing differences will reverse.
1.6
Group financial statements
The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.
MET CAR PARKS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2016
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2
Fixed assets
Investments
£
Cost
At 1 June 2015 & at 31 May 2016
2,990,841
At 31 May 2015
2,990,841
Holdings of more than 20%
The company holds more than 20% of the share capital of the following companies:
Company
Country of registration or
Shares held
incorporation
Class
%
Subsidiary undertakings
Ordinary
The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:
Capital and reserves
Profit/(loss) for the year
2016
2016
Principal activity
£
£
2,220,264
247,830
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid