MANDARIN_TREE_LIMITED - Accounts

MANDARIN TREE LIMITED - Company Information

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MANDARIN TREE LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2016

Company Registration No. SC456809 (Scotland)

MANDARIN TREE LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

MANDARIN TREE LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 AUGUST 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

1,776

512

Current assets

Debtors

1,668

4,879

Cash at bank and in hand

2,384

9,580

4,052

14,459

Creditors: amounts falling due within one year

(5,373)

(11,474)

Net current liabilities/(assets)

(1,321)

2,985

Total assets less current liabilities

455

3,497

Capital and reserves

Called up share capital

Profit and loss account

453

3,495

Shareholders' funds

455

3,497

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 11 May 2017

R Bennett

Director

Company Registration No. SC456809

MANDARIN TREE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 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

Turnover

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

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:

Fixtures, fittings and equipment

10% reducing balance

1.4

Deferred taxation

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. Timing differences are differences between the taxable profits and the results as stated in the financial statements that arise from the inclusion of gains and losses in tax assessments in periods different from those in which they are recognised in the financial statements.

A net deferred tax asset is regarded as recoverable and therefore recognised only when it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of underlying timing differences can be deducted.

Deferred tax is not recognised when fixed assets are revalued unless by the balance sheet date there is a binding agreement to sell the revalued assets and the asset has been revalued to selling price. Neither is deferred tax recognised when fixed assets are sold and it is more likely than not that the taxable gain will be rolled over, being charged to tax only if and when the replacement assets are sold.

Deferred tax is measured on a non-discounted basis.

MANDARIN TREE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2016

- 3 -

Fixed assets

Tangible assets

Cost

At 1 September 2015

635

Additions

1,431

At 31 August 2016

2,066

Depreciation

At 1 September 2015

123

Charge for the year

167

At 31 August 2016

290

Net book value

At 31 August 2016

1,776

At 31 August 2015

512

Share capital

2016

2015

Allotted, called up and fully paid

2 Ordinary shares of £1 each

Directors' benefits: advances, credit and guarantees

Loans to directors

The director had interest free loans during the year. The movement on these loans are as follows:

Description

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

Current Account

(8,635)

29,454

19,213

1,606

(8,635)

29,454

19,213

1,606

The above loan is unsecured, interest-free and has no fixed terms for repayment.