MABC Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 03413288 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 30 September 2016

for

Mansfield & Ashfield Broadcasting

Company Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

PA Delahunty

SR Emblin

M Reid

SECRETARY:

REGISTERED OFFICE:

Gainsborough House

14 Burnett Road

Sutton Coldfield

West Midlands

B74 3EJ

REGISTERED NUMBER:

03413288 (England and Wales)

ACCOUNTANTS:

Robb & Co

Gainsborough House

14 Burnett Road

Streetly

Sutton Coldfield

B74 3EJ

FIXED ASSETS

Tangible assets

2

9,019

8,314

CURRENT ASSETS

Debtors

3

228,009

257,743

Cash at bank and in hand

192,405

199,740

420,414

457,483

CREDITORS

Amounts falling due within one year

60,980

97,200

NET CURRENT ASSETS

359,434

360,283

TOTAL ASSETS LESS CURRENT
LIABILITIES

368,453

368,597

CAPITAL AND RESERVES

Called up share capital

4

424,000

Profit and loss account

(55,547

)

(55,403

)

SHAREHOLDERS' FUNDS

368,453

368,597

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 22 March 2017 and were
signed on its behalf by:

PA Delahunty - 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.

Equipment,fixture & fittings

-

20% on reducing balance

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.

Restatement of prior year figures

The figures for 2011 and prior years have been restated to reflect the under-recording of

commission paid.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2015

281,418

Additions

3,627

At 30 September 2016

285,045

DEPRECIATION

At 1 October 2015

273,104

Charge for year

2,922

At 30 September 2016

276,026

NET BOOK VALUE

At 30 September 2016

9,019

At 30 September 2015

8,314

3.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR

The aggregate total of debtors falling due after more than one year is £ 9,960 (30.9.15 - £

12,971 )

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.16

30.9.15

value:

£

405,715

Ordinary share

£1

405,715

304,285

Loan Capital

£1

18,285

424,000

The 10% unsecured loan stock 2006 issued in 1998 carried a shareholding qualification; for

every 4 Ordinary Shares held (nominal value £4) the shareholder was required to own 3

units of loan stock (nominal value £3). Only shareholders of the company could hold the loan

stock, which had to be sold with the sale of any qualifying shareholding. During 2009 the

Shareholders agreed to alter the terms of the original loan stock instrument. By these

alterations the loan stock interest coupon rate was altered to 0%. Also the Shareholders'

right of redemption was removed. The loan stock can only now be redeemed by the

company. Accordingly, the 10% unsecured loan stock 2006 has been redesignated Loan

Capital and disclosed as Shareholders' Funds in the accounts.