Abbreviated Company Accounts - MALIK POULTRY PRODUCTS LIMITED

Abbreviated Company Accounts - MALIK POULTRY PRODUCTS LIMITED

MALIK POULTRY PRODUCTS LIMITED - Company Information

Print Friendly Version

Registered Number 05109880

MALIK POULTRY PRODUCTS LIMITED

Abbreviated Accounts

31 May 2016

MALIK POULTRY PRODUCTS LIMITED Registered Number 05109880

Abbreviated Balance Sheet as at 31 May 2016

Notes 2016 2015
£ £
Fixed assets
Intangible assets 2 60,000 60,000
Tangible assets 3 1,869 2,336
61,869 62,336
Current assets
Stocks 530 540
Debtors 3,022 1,617
Cash at bank and in hand 25,772 21,328
29,324 23,485
Creditors: amounts falling due within one year (46,363) (23,870)
Net current assets (liabilities) (17,039) (385)
Total assets less current liabilities 44,830 61,951
Creditors: amounts falling due after more than one year (127,745) (145,482)
Total net assets (liabilities) (82,915) (83,531)
Capital and reserves
Called up share capital 4 2 2
Profit and loss account (82,917) (83,533)
Shareholders' funds (82,915) (83,531)
  • For the year ending 31 May 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 18 April 2017

And signed on their behalf by:
MR A F MALIK, Director

MALIK POULTRY PRODUCTS LIMITED Registered Number 05109880

Notes to the Abbreviated Accounts for the period ended 31 May 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover comprises invoiced sales net of returns, trade discounts and VAT.

Tangible assets depreciation policy
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life on a reducing balance method as follows:
Fixture and fittings 20%
Motor vehicles 20%

Intangible assets amortisation policy
NONE

Valuation information and policy
Stocks are valued at the lower of cost and net realisable value, after allowing for slow-moving and obsolete items.

Other accounting policies
Corporation tax payable is provided for on taxable profits at the current rate.

2Intangible fixed assets
£
Cost
At 1 June 2015 60,000
Additions -
Disposals -
Revaluations -
Transfers -
At 31 May 2016 60,000
Amortisation
At 1 June 2015 -
Charge for the year -
On disposals -
At 31 May 2016 -
Net book values
At 31 May 2016 60,000
At 31 May 2015 60,000
3Tangible fixed assets
£
Cost
At 1 June 2015 23,963
Additions -
Disposals -
Revaluations -
Transfers -
At 31 May 2016 23,963
Depreciation
At 1 June 2015 21,627
Charge for the year 467
On disposals -
At 31 May 2016 22,094
Net book values
At 31 May 2016 1,869
At 31 May 2015 2,336
4Called Up Share Capital
Allotted, called up and fully paid:
2016
£		 2015
£
2 Ordinary shares of £1 each 2 2

5Transactions with directors

Name of director receiving advance or credit: MR A F MALIK
Description of the transaction: DIRECTOR
Balance at 1 June 2015: £ 145,482
Advances or credits made: £ 3,000
Advances or credits repaid: £ 20,737
Balance at 31 May 2016: £ 127,745

The ultimate controlling parties are MR A F MALIK and MRS S P MALIK by virtue of their ownership of 50% each in the ordinary share capital of the company.