MB 1nteriors Limited,Ltd - Accounts

MB 1nteriors Limited,Ltd - Accounts

MB 1NTERIORS LTD - Company Information

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2015-12-01 true false Private Limited Company 08793211 2016-11-30 08793211 2015-12-01 2016-11-30 08793211 2015-11-30 08793211 2014-12-01 2015-11-30 08793211 uk-bus:Director1 2015-12-01 2016-11-30 08793211 uk-gaap:PlantMachinery 2015-12-01 2016-11-30 08793211 uk-gaap:ComputerEquipment 2015-12-01 2016-11-30 08793211 uk-gaap:CommercialMotorVehicles 2015-12-01 2016-11-30 08793211 uk-gaap:FixturesFittings 2015-12-01 2016-11-30 08793211 uk-gaap:AfterOneYear 2016-11-30 08793211 uk-gaap:AfterOneYear 2015-11-30 iso4217:GBP
MB 1nteriors Limited
For the year ended 30 November 2016
Unaudited Abbreviated Report and Financial Statements
England and Wales
Registered Number: 08793211
2
Contents Page
MB 1nteriors Limited
For the year ended 30 November 2016
1
Accountants' Report
2
Balance Sheet
3 to 4
Notes to the Abbreviated Financial Statements
3
MB 1nteriors Limited
Accountants' Report
For the year ended 30 November 2016
As described on the balance sheet you are responsible for the preparation of the financial statements for the year
ended 30 November 2016 and you consider that the company is exempt from an audit under the Companies Act
2006.
In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you
to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.
Graeme Hinchliffe Associates Ltd
6-8 Manvers Road
Swallownest
Sheffield
S26 4UD
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4
Abbreviated Balance Sheet
MB 1nteriors Limited
As at 30 November 2016
08793211
Registered Number :
£
£
2016
Notes
2015
Fixed assets
Tangible assets
2
213,664
40,035
213,664
40,035
Current assets
Stocks
17,000
18,500
Debtors
256,604
154,984
Cash at bank and in hand
282,118
411
455,602
274,015
Creditors: amounts falling due within one year
(133,871)
(204,862)
140,144
250,740
Net current assets
Total assets less current liabilities
464,404
180,179
Creditors: amounts falling due after more than one year
3
(19,741)
(40,738)
(30,892)
(1,764)
Provisions for liabilities
392,774
Net assets
158,674
Capital and reserves
Called up share capital
183
183
Share premium account
9,819
9,819
Profit and loss account
382,772
148,672
392,774
158,674
Shareholders funds
For the year ended 30 November 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director responsibilities: 1) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;
2) 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.
Date approved by the board: 22 December 2016
Martin Bint Director
Signed on behalf of the board of directors
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5
Notes to the Abbreviated Financial Statements
MB 1nteriors Limited
For the year ended 30 November 2016
1 Accounting Policies
Going Concern
The financial statements have been prepared on a going concern basis. The company's ongoing activities are dependent upon the continued support of the director who has undertaken to provide such support for the foreseeable future. If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the profit and loss account on a straight line basis.
Dividends
Proposed dividends are only included as liabilities in the financial statements when their payment has been approved
by the shareholders prior to the balance sheet date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery
15% Reducing balance
Computer Equipment
15% Reducing balance
Motor Vehicles
25% Reducing balance
Fixtures and Fittings
15% Reducing balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and
rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets
and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
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6
Notes to the Abbreviated Financial Statements
MB 1nteriors Limited
For the year ended 30 November 2016
Stocks and work in progress
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 costs and an appropriate proportion of fixed and variable overheads.
2 Tangible fixed assets
Tangible fixed
assets
Cost or valuation
£
55,730
At 01 December 2015
216,864
Additions
At 30 November 2016
272,594
Depreciation
15,695
At 01 December 2015
43,235
Charge for year
58,930
At 30 November 2016
Net book values
At 30 November 2016
213,664
40,035
At 30 November 2015
2015
2016
3 Creditors due after more than one year
£
£
10,000
10,000
Bank loans and overdrafts (secured)
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