Marketing Services Limited - Period Ending 2016-06-30

Company No. 04234130

Marketing Services Limited

Abbreviated Accounts

Year Ended

30 June 2016
 

Brett Pittwood

Chartered Accountants

Marketing Services Limited   Accounts Year Ended 30 June 2016

INDEX Page

Abbreviated balance sheet 1

Notes to the abbreviated accounts 2 - 3

Marketing Services Limited Abbreviated balance sheet at 30 June 2016

page 787878787 Company No. 04234130

		Note			2016						2015
Fixed assets
Tangible fixed assets								30,357						41,056
Current assets
Stocks					186,433						115,408
Debtors					203,277						110,843
Cash at bank and in hand					192,786						267,389
					582,496						493,640
CREDITORS: amounts falling due within one year					(266,161)						(198,800)
Net current assets								316,335						294,840
Total assets less current liabilities								346,692						335,896
Provisions for liabilities								(5,535)						(6,665)
Net assets								£341,157						£329,231
Capital and reserves
Called up share capital		3			101						101
Profit and loss account					341,056						329,130
								£341,157						£329,231

For the year ending 30 June 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Approved by the Board on 29 March 2017 and signed on its behalf by:

J A Jordan
Director

Marketing Services Limited Notes to the abbreviated accounts   Year Ended 30 June 2016

page 787878787

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Leasehold property	over the remaining period of the lease
Plant and equipment	25% reducing balance
Fixtures, fittings and equipment	25% reducing balance

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Marketing Services Limited Notes to the abbreviated accounts   Year Ended 30 June 2016

page 787878787

2	Fixed assets

		Tangible assets			Total
Cost
At 1 July 2015		110,446			110,446
Additions		2,829			2,829
At 30 June 2016		113,275			113,275
Amortisation
At 1 July 2015		69,390			69,390
Charge for the year		13,528			13,528
At 30 June 2016		82,918			82,918
Net book value
At 30 June 2016		£30,357			£30,357
At 30 June 2015		£41,056			£41,056

3	Share capital

Allotted, called up and fully paid shares

	2016		2015
	No.	£	No.	£
Ordinary A shares of £1.00 each	86	86	100	100
Ordinary B shares of £1.00 each	1	1	1	1
Ordinary C shares of £1.00 each	14	14	-	-
	101	101	101	101

Share restructure

During the year 14 Ordinary C shares having an aggregate nominal value of £14 were allotted for an aggregate consideration of £14.