MOUNTELM_LTD - Accounts

MOUNTELM LIMITED - Company Information

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Company Registration No. 01195569 (England and Wales)

MOUNTELM LTD

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2016

MOUNTELM LTD

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

MOUNTELM LTD

ABBREVIATED BALANCE SHEET

AS AT

31 JULY 2016

- 1 -

2016

2015

Notes

Current assets

Stocks

112,454

145,853

Debtors

169,348

211,841

Cash at bank and in hand

118,649

196,701

400,451

554,395

Creditors: amounts falling due within one year

(276,268)

(407,156)

Total assets less current liabilities

124,183

147,239

Capital and reserves

Called up share capital

25,000

Profit and loss account

99,183

122,239

Shareholders' funds

124,183

147,239

For the financial year ended 31 July 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board and authorised for issue on 25 April 2017

Mr R M Liddle

Director

Company Registration No. 01195569

MOUNTELM LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 JULY 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Stock

Stock is valued at the lower of cost and net realisable value.

1.5

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

Share capital

2016

2015

Allotted, called up and fully paid

25,000 Ordinary of £1 each

25,000

Ultimate parent company

The ultimate parent company is Chestnut Group Limited, a company registered in England and Wales.