Mandale Stone Company Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 04148640

MANDALE STONE COMPANY LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31ST JULY 2016

Page

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

3

FIXED ASSETS

Intangible assets

2

20,500

21,477

Tangible assets

3

2,176

1,395

22,676

22,872

CURRENT ASSETS

Stocks

13,702

-

Debtors

54,644

15,881

Cash at bank and in hand

280

9,556

68,626

25,437

CREDITORS

Amounts falling due within one year

(83,427

)

(41,580

)

NET CURRENT LIABILITIES

(14,801

)

(16,143

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

7,875

6,729

CAPITAL AND RESERVES

Called up share capital

4

100

Profit and loss account

7,775

6,629

SHAREHOLDERS' FUNDS

7,875

6,729

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 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 19th April 2017 and were signed on its
behalf by:

R. J. Bean - 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

-

15% straight line

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

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 finance leases and hire purchase contracts are capitalised in the Balance Sheet

and are depreciated over their expected useful lives.

The interest element of the rental obligations is charged to Profit and Loss Account over the period of

the lease.

Rental paid under operating leases are charged to the Profit and Loss account as incurred

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1st August 2015

and 31st July 2016

23,950

AMORTISATION

At 1st August 2015

2,473

Amortisation for year

977

At 31st July 2016

3,450

NET BOOK VALUE

At 31st July 2016

20,500

At 31st July 2015

21,477

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st August 2015

81,724

Additions

2,434

Disposals

(4,687

)

At 31st July 2016

79,471

DEPRECIATION

At 1st August 2015

80,329

Charge for year

523

Eliminated on disposal

(3,557

)

At 31st July 2016

77,295

NET BOOK VALUE

At 31st July 2016

2,176

At 31st July 2015

1,395

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

100

Ordinary

£1

100