MTL GROUP LTD - Abbreviated accounts 16.3

REGISTERED NUMBER: 09112970 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 JULY 2016

FOR

MTL GROUP LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

J Taylor

Miss N L Baker

SECRETARY:

REGISTERED OFFICE:

9-13 High Street

Wells

Somerset

BA5 2AA

REGISTERED NUMBER:

09112970 (England and Wales)

ACCOUNTANTS:

Simmons Accountants Limited

Chartered Certified Accountants

9-13 High Street

Wells

Somerset

BA5 2AA

FIXED ASSETS

Tangible assets

2

55,975

32,146

CURRENT ASSETS

Debtors

14,471

24,240

Cash at bank

482

1,949

14,953

26,189

CREDITORS

Amounts falling due within one year

46,517

38,336

NET CURRENT LIABILITIES

(31,564

)

(12,147

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

24,411

19,999

CREDITORS

Amounts falling due after more than one
year

24,253

-

NET ASSETS

158

19,999

CAPITAL AND RESERVES

Called up share capital

3

100

Profit and loss account

58

19,899

SHAREHOLDERS' FUNDS

158

19,999

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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 27 April 2017 and were signed on its behalf by:

J Taylor - Director

Miss N L Baker - 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 August 2015

42,862

Additions

48,514

Disposals

(8,035

)

At 31 July 2016

83,341

DEPRECIATION

At 1 August 2015

10,716

Charge for year

18,659

Eliminated on disposal

(2,009

)

At 31 July 2016

27,366

NET BOOK VALUE

At 31 July 2016

55,975

At 31 July 2015

32,146

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

100

Ordinary

1

100