Company Registration No. 05682239 (England and Wales)
MUTZNUTZ LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2016
TWP Accounting LLP
Chartered Accountants
The Old Rectory
Church Street
Weybridge
Surrey
KT13 8DE
MUTZNUTZ LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
MUTZNUTZ LIMITED
Company Registration No. 05682239
ABBREVIATED BALANCE SHEET
AS AT 31 August 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
32,896
2,900
Current assets
Stocks
25,000
29,300
Debtors
32,893
7,937
Cash at bank and in hand
7,544
23,060
65,437
60,297
Creditors: amounts falling due within one year
3
(44,959)
(39,742)
Net current assets
20,478
20,555
Total assets less current liabilities
53,374
23,455
Creditors: amounts falling due after more than one year
4
(28,537)
(6,994)
24,837
16,461
Capital and reserves
Called up share capital
5
2
2
Profit and loss account
24,835
16,459
Shareholders' funds
24,837
16,461
MUTZNUTZ LIMITED
Company Registration No. 05682239
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT 31 August 2016
- 2 -
For the financial year ended 31 August 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 for issue on 1 May 2017
J Cooper
Director
MUTZNUTZ LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 AUGUST 2016
- 3 -
1
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
Turnover
Turnover comprises revenue recognised by the company in respect of pet goods and services supplied during the y ear, exclusive of Value Added Tax and trade discounts.year, exclusive of Value Added Tax and trade discounts.
Income is recognised in the period in which the service is supplied.
1.3
Tangible fixed assets and depreciation
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, as follows:
Short-term leasehold property
10% straight line
Plant and machinery
25% straight line
Office equipment
20% straight line
Motor Vehicles
20% NBV
1.4
Stock
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2
Fixed assets
Tangible assets
£
Cost
At 1 September 2015
16,009
Additions
38,936
At 31 August 2016
54,945
Depreciation
At 1 September 2015
15,429
Charge for the year
6,620
At 31 August 2016
22,049
Net book value
At 31 August 2016
32,896
At 31 August 2015
2,900
MUTZNUTZ LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2016
- 4 -
3
Creditors: amounts falling due within one year
Included within creditors falling due within one year are bank loans and hire purchase agreements of £6,563 (2015 - £2,122) which are secured.
4
Creditors: amounts falling due after more than one year
Included within creditors falling due after more than one year are bank loans and hire purchase agreements of £28,537 (2015 - £6,994) which are secured.
5
Share capital
2016
2015
£
£
Allotted, called up and fully paid
2 Ordinary shares of £1 each
2
2
6
Directors' benefits: advances, credits and guarantees
At the beginning of the year the company owed the directors £94. During the year advances totalling £44,676 were made to the directors. There were no advances in excess of £10,000. Repayments during the year totalled £18,440 and no repayments in excess of £10,000 were made by the directors. At the balance sheet date the directors owed the company £26,143.
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