MR Mouldings Ltd - Abbreviated accounts 16.3
MR Mouldings Ltd - Abbreviated accounts 16.3
| MR. MOULDINGS LTD |
| ABBREVIATED UNAUDITED ACCOUNTS |
| FOR THE YEAR ENDED |
| 31 OCTOBER 2016 |
| MR. MOULDINGS LTD (REGISTERED NUMBER: 04760940) |
| CONTENTS OF THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31 OCTOBER 2016 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 3 |
| Chartered Accountants' Report | 6 |
| MR. MOULDINGS LTD |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 OCTOBER 2016 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| MR. MOULDINGS LTD (REGISTERED NUMBER: 04760940) |
| ABBREVIATED BALANCE SHEET |
| 31 OCTOBER 2016 |
| 2016 | 2015 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 2 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 3 |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| The director acknowledges his 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 financial statements were approved by the director on |
| MR. MOULDINGS LTD (REGISTERED NUMBER: 04760940) |
| NOTES TO THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31 OCTOBER 2016 |
| 1. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The accounts are prepared in accordance with applicable United Kingdom Accounting Standards (United |
| Kingdom Generally Accepted Accounting Practice), which have been consistently applied (except as otherwise |
| stated). |
| 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). |
| Going concern basis |
| The director has formed the judgement, at the time of approving the financial statements, that there is a |
| reasonable expectation that the Company has sufficient access to financial resources which, together with |
| internally generated cash flows, will continue to provide sufficient sources of liquidity to fund its current |
| operations including its contractual and commercial commitments, despite the current economic outlook. |
| For this reason, the director continues to adopt the going concern basis in preparing the financial statements. |
| Turnover |
| Turnover represents net invoiced sales of goods, excluding value added tax and trade discounts. Goods represent |
| finished wood products. |
| Progress payments received, when greater than recorded turnover, are deducted from the value of work in |
| progress except to the extent that payments on account exceed the value of work in progress on any job where |
| the excess is included in creditors. The amount by which recorded turnover of jobs is in excess of payments on |
| account is classified as 'amounts recoverable on contracts' and is separately disclosed within debtors. |
| Tangible fixed assets |
| Leasehold property | - |
| Plant & machinery | - |
| Motor vehicles | - |
| Computer equipment | - |
| Stock |
| Stock, which consists of raw and machined timber, is stated at the lower of cost and net realisable value. Cost |
| comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred |
| in bringing the stock to there present location and condition. Net realisable value is the estimated selling price |
| less the estimated costs of disposal. |
| MR. MOULDINGS LTD (REGISTERED NUMBER: 04760940) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| FOR THE YEAR ENDED 31 OCTOBER 2016 |
| 1. | ACCOUNTING POLICIES - continued |
| Taxation |
| The tax expense represents the sum of the tax currently payable and the deferred tax. |
| The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit before |
| taxation as reported in the profit and loss account because it excludes items of income and expense that are |
| taxable or deductible in other years and it further excludes items which are never taxable or deductible. The |
| Company's liability for current tax is calculated using tax rates that have been enacted or substantially enacted by |
| the balance sheet date. |
| Deferred tax is the tax expected to be payable or recoverable on differences between the carrying amounts of |
| assets and liabilities in the financial statements and the corresponding tax bases used in the computation of |
| taxable profit. This is accounted for using the balance sheet liability method. Deferred tax liabilities are generally |
| recognised for all taxable temporary differences and deferred tax assets are recognised to the extent that it is |
| probable that taxable profits will be available against which deductible temporary differences can be utilised. |
| Such assets and liabilities are not recognised if the temporary difference arises from goodwill or from the initial |
| recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting |
| profit. |
| Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or |
| the asset realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to |
| items charged or credited directly to reserves, in which case the deferred tax is also dealt with in reserves. |
| 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 lives or the lease term, whichever is shorter. |
| Hire purchase contracts are secured over the assets concerned. |
| The interest element of these obligations is charged to the profit and loss account over the relevant period. The |
| capital element is treated as a liability. |
| Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the |
| period of the lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
| scheme are charged to the profit and loss account in the period to which they relate. |
| MR. MOULDINGS LTD (REGISTERED NUMBER: 04760940) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| FOR THE YEAR ENDED 31 OCTOBER 2016 |
| 2. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 November 2015 |
| Additions |
| Disposals | ( |
) |
| At 31 October 2016 |
| DEPRECIATION |
| At 1 November 2015 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 October 2016 |
| NET BOOK VALUE |
| At 31 October 2016 |
| At 31 October 2015 |
| 3. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2016 | 2015 |
| value: | £ | £ |
| Ordinary | £1 |
| CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR |
| ON THE UNAUDITED FINANCIAL STATEMENTS OF |
| MR. MOULDINGS LTD |
| The following reproduces the text of the report prepared for the director in respect of the company's annual |
| unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to five) |
| have been prepared. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
| financial statements of Mr. Mouldings Ltd for the year ended 31 October 2016 which comprise the Profit and Loss |
| Account, the Balance Sheet and the related notes from the company's accounting records and from information and |
| explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the director of Mr. Mouldings Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Mr. Mouldings Ltd and state those matters that we have agreed to state to the director of Mr. Mouldings Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Mr. Mouldings Ltd director for our work or for this report. |
| It is your duty to ensure that Mr. Mouldings Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Mr. Mouldings Ltd. You consider that Mr. Mouldings Ltd is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of Mr. Mouldings Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| Chartered Accountants |
| 19 May 2017 |