MODELS_PLUS_(LONDON)_LIMI - Accounts

MODELS PLUS (LONDON) LIMITED - Company Information

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Company Registration No. 05432689 (England and Wales)

MODELS PLUS (LONDON) LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2016

Taylor Associates

Chartered Accountants

MODELS PLUS (LONDON) LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

MODELS PLUS (LONDON) LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 APRIL 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

1,043

1,254

Current assets

Debtors

41,011

63,942

41,011

63,942

Creditors: amounts falling due within one year

(61,152)

(66,880)

Net current liabilities

(20,141)

(2,938)

Total assets less current liabilities

(19,098)

(1,684)

Capital and reserves

Called up share capital

100

Profit and loss account

(19,198)

(1,784)

Shareholders' funds

(19,098)

(1,684)

For the financial year ended 30 April 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 30 January 2017

Mrs S M Walters

Director

Company Registration No. 05432689

MODELS PLUS (LONDON) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 APRIL 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

The accounts have been prepared on a going concern basis which is dependent on the continued support of the creditors.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.

1.5

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Computer equipment

3 years straight line

Fixtures, fittings & equipment

25% reducing balance

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 May 2015

750

10,700

11,450

Additions

286

At 30 April 2016

750

10,986

11,736

Depreciation

At 1 May 2015

750

9,445

10,195

Charge for the year

498

At 30 April 2016

750

9,943

10,693

Net book value

At 30 April 2016

1,043

At 30 April 2015

1,254

MODELS PLUS (LONDON) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 APRIL 2016

- 3 -

Share capital

2016

2015

Allotted, called up and fully paid

100 Ordinary Shares of £1 each

100

Related party relationships and transactions

Loans to directors

Transactions in relation to loans with directors during the year are outlined in the table below:

Description

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

Mrs S M Walters

41,394

24,158

17,236

41,394

24,158

17,236