Maronway Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 07960376

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31ST MARCH 2016

FOR

MARONWAY LIMITED

Page

Company Information

1

Chartered Accountants' Report

2

Abbreviated Balance Sheet

3

Notes to the Abbreviated Accounts

5

DIRECTOR:

O E Marston

REGISTERED OFFICE:

Fareham House

69 High Street

Fareham

Hampshire

PO16 7BB

REGISTERED NUMBER:

07960376

ACCOUNTANTS:

Rothman Pantall LLP

Chartered Accountants

Fareham House

69 High Street

Fareham

Hampshire

PO16 7BB

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

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages three to six)

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 Maronway Limited for the year ended 31st March 2016 which comprise the Profit and Loss

Account, the Balance Sheet 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 director of Maronway Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Maronway Limited and state those matters that we have agreed to state to the director of Maronway Limited 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 Maronway Limited director for our work or for this report.

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

Rothman Pantall LLP

Chartered Accountants

Fareham House

69 High Street

Fareham

Hampshire

PO16 7BB

6th April 2017

FIXED ASSETS

Tangible assets

2

18,276

7,200

CURRENT ASSETS

Debtors

336,203

108,397

Cash at bank and in hand

6,528

10,409

342,731

118,806

CREDITORS

Amounts falling due within one year

3

463,281

273,018

NET CURRENT LIABILITIES

(120,550

)

(154,212

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(102,274

)

(147,012

)

CREDITORS

Amounts falling due after more than one year

3

26,289

-

NET LIABILITIES

(128,563

)

(147,012

)

CAPITAL AND RESERVES

Called up share capital

4

1

1

Profit and loss account

(128,564

)

(147,013

)

SHAREHOLDERS' FUNDS

(128,563

)

(147,012

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 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 6th April 2017 and were signed by:

O E Marston - 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, except in respect of service

contracts where turnover is recognised when the company obtains the right to consideration.

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.

Plant and machinery

-

25% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

33% on cost

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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st April 2015

24,591

Additions

19,019

At 31st March 2016

43,610

DEPRECIATION

At 1st April 2015

17,391

Charge for year

7,943

At 31st March 2016

25,334

NET BOOK VALUE

At 31st March 2016

18,276

At 31st March 2015

7,200

3.

CREDITORS

Creditors include an amount of £ 11,375 for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

as restated

£

£

1

Ordinary

1

1

1

5.	GOING CONCERN

The company meets it day to day working capital requirements through the support of the director and creditors.

The director considers it appropriate to draw the accounts up on a going concern basis, as they are satisfied the

company, with the above mentioned continued support, will have adequate cash resources to continue to trade

for a period of at least 12 months from the date of approval of the accounts.The director also anticipates that the

company will return to profitability in the next year and will remain profitable for a period of 12 months from the

date of approval of the accounts.