Metaenterprices Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: 05833598 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 May 2016

for

Metaenterprices Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

M Mohsin

REGISTERED OFFICE:

122 Feering Hill

Feering

Colchester

Essex

CO5 9PY

REGISTERED NUMBER:

05833598 (England and Wales)

ACCOUNTANTS:

Granite Morgan Smith Limited

122 Feering Hill

Feering

Colchester

Essex

CO5 9PY

FIXED ASSETS

2,308

Tangible assets

2

11,986

2,308

11,986

CURRENT ASSETS

205,047

Debtors

833,941

163,959

Cash at bank and in hand

35,647

369,006

869,588

CREDITORS

239,276

Amounts falling due within one year

584,062

129,730

NET CURRENT ASSETS

285,526

132,038

TOTAL ASSETS LESS CURRENT
LIABILITIES

297,512

CREDITORS

-

Amounts falling due after more than one
year

(135,000

)

(485

)

PROVISIONS FOR LIABILITIES

(2,397

)

131,553

NET ASSETS

160,115

CAPITAL AND RESERVES

100,000

Called up share capital

3

100,000

31,553

Profit and loss account

60,115

131,553

SHAREHOLDERS' FUNDS

160,115

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 director acknowledges his 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 director on 28 February 2017 and were signed by:

M Mohsin - 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance and Straight line over 3 years

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at

the date of transaction. Exchange differences are taken into account in arriving at the operating result.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2015

10,883

Additions

17,055

At 31 May 2016

27,938

DEPRECIATION

At 1 June 2015

8,575

Charge for year

7,377

At 31 May 2016

15,952

NET BOOK VALUE

At 31 May 2016

11,986

At 31 May 2015

2,308

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.16

31.5.15

value:

£

100,000

Ordinary

£1

100,000

4.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date the company owed the director M Mohsin £18,705 (2015- £42,780) in respect of his

directors loan account. These loans are interest free and repayable on demand.