Montroyal Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: 03064900

MONTROYAL LIMITED

TRADING AS

SIGNS EXPRESS SWANSEA

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MAY 2016

Page

Company Information

1

Chartered Accountants' Report

2

Abbreviated Balance Sheet

3

Notes to the Abbreviated Accounts

5

DIRECTORS:

P D Perkins

Mrs S Perkins

SECRETARIES:

Mrs S Perkins

P D Perkins

REGISTERED OFFICE:

Unit 1 Christopher Court

Mona Close

Swansea Enterprise Park

Swansea

SA6 8RR

REGISTERED NUMBER:

03064900

ACCOUNTANTS:

Bevan & Buckland

Chartered Accountants

Langdon House

Langdon Road

SA1 Swansea Waterfront

Swansea

SA1 8QY

The following reproduces the text of the report prepared for the directors in respect of the company's

annual unaudited financial statements, from which the unaudited abbreviated accounts (set out on

pages three to seven) 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 Montroyal Limited for the year ended 31 May 2016 which comprise the Profit and

Loss Account, the Balance Sheet, the Cash Flow Statement, the Statement of Total Recognised Gains and

Losses and the related notes from the company's accounting records and from information and explanations

you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Montroyal Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Montroyal Limited and state those matters that we have agreed to state to the Board of Directors of Montroyal Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Montroyal Limited Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Montroyal 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 Montroyal Limited. You consider that Montroyal 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 Montroyal 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.

Bevan & Buckland

Chartered Accountants

Langdon House

Langdon Road

SA1 Swansea Waterfront

Swansea

SA1 8QY

Date: .............................................

FIXED ASSETS

Intangible assets

2

235

469

Tangible assets

3

82,115

29,979

82,350

30,448

CURRENT ASSETS

Stocks

16,300

16,250

Debtors

63,058

58,018

Cash at bank and in hand

13,136

10,503

92,494

84,771

CREDITORS

Amounts falling due within one year

4

116,430

88,641

NET CURRENT LIABILITIES

(23,936

)

(3,870

)

TOTAL ASSETS LESS CURRENT LIABILITIES

58,414

26,578

CREDITORS

Amounts falling due after more than one year

4

(48,154

)

(20,543

)

PROVISIONS FOR LIABILITIES

(10,098

)

(5,832

)

NET ASSETS

162

203

CAPITAL AND RESERVES

Called up share capital

5

2

2

Profit and loss account

160

201

SHAREHOLDERS' FUNDS

162

203

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 19 January 2017 and were signed on its behalf by:

P D Perkins - 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 net invoiced sales of goods, excluding value added tax.

Intangible fixed assets

Amortisation is provided straight line over 19 years in order to write off the patents & licences over their

estimated useful life. The accounting policy have been revised in 2013 due to the franchise license

having 5 years left to run from May 2012.

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.

Leasehold property improvements

-

5% on cost

Plant and machinery

-

10% on cost

Fixtures and fittings

-

10% on cost

Motor vehicles

-

15% 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to the profit and loss account in the period to which they

relate.

Government grants

Grants received in respect of capital expenditure are being released to the profit and loss account in

line with the depreciation rate of the asset purchased.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2015

and 31 May 2016

16,400

AMORTISATION

At 1 June 2015

15,931

Amortisation for year

234

At 31 May 2016

16,165

NET BOOK VALUE

At 31 May 2016

235

At 31 May 2015

469

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2015

100,659

Additions

61,591

Disposals

(52,180

)

At 31 May 2016

110,070

DEPRECIATION

At 1 June 2015

70,680

Charge for year

7,635

Eliminated on disposal

(50,360

)

At 31 May 2016

27,955

NET BOOK VALUE

At 31 May 2016

82,115

At 31 May 2015

29,979

4.

CREDITORS

Creditors include an amount of £ 77,858 (2015 - £ 39,315 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

2

Ordinary

£1

2

2

6.	ULTIMATE CONTROL

Mr P D Perkins & Mrs S Perkins, the directors, each own 50% of the issued share capital and therefore

have ultimate control of the company.