M_D_SHREWSBURY_LIMITED - Accounts

M D SHREWSBURY LIMITED - Company Information

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Company Registration No. 01060746 (England and Wales)

M D SHREWSBURY LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2016

M D SHREWSBURY LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 4

M D SHREWSBURY LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 NOVEMBER 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

4,929

Investments

100

101

5,029

Current assets

Stocks

21,438

Debtors

287,095

557,920

Cash at bank and in hand

2,954

257,656

311,487

837,014

Creditors: amounts falling due within one year

(142,967)

(581,529)

Net current assets

168,520

255,485

Total assets less current liabilities

168,621

260,514

Capital and reserves

Called up share capital

48,500

Profit and loss account

120,121

212,014

Shareholders' funds

168,621

260,514

For the financial year ended 30 November 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 13 July 2017

C P Towers

Director

Company Registration No. 01060746

M D SHREWSBURY LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 NOVEMBER 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).

The company is reliant upon the support of companies within the Merbuild (Holdings) Limited group in order to continue as a going concern.

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

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:

Leasehold properties

Straight line over the life of the lease - fully depreciated

Office equipment

20% Straight line

Motor vehicles

20% Straight line

1.5

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

1.6

Revenue recognition

Income represents revenue earned under a variety of contracts (including income in the form of management charges receivable). Revenue is recognised as earned when, and to the extent that, the firm obtains the right to consideration in exchange for its performance under these contracts. It is measured at the fair value of the right to consideration, which represents amounts chargeable to clients, including expenses and disbursements but excluding value added tax.

Revenue is generally recognised as contract activity progresses so that for incomplete contracts it reflects the partial performance of the contractual obligations. For such contracts the amount of revenue reflects the accrual of the right to consideration by reference to the value of work performed. Revenue not billed to clients is included in debtors and payments on account in excess of the relevant amount of revenue are included in creditors.

1.7

Work in progress

Work in progress is valued at the direct cost to date. Interest on sites acquired for development, and on the subsequent development costs, has been charged to the profit and loss account when incurred and no element of interest is included in the work in progress figures.

M D SHREWSBURY LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 NOVEMBER 2016

- 3 -

Fixed assets

Tangible assets

Investments

Total

Cost

At 1 December 2015

135,893

100

135,993

Disposals

(28,976)

At 30 November 2016

106,917

100

107,017

Depreciation

At 1 December 2015

130,964

On disposals

(24,048)

At 30 November 2016

106,916

Net book value

At 30 November 2016

100

101

At 30 November 2015

4,929

100

5,029

Holdings of more than 20%

The company holds more than 20% of the share capital of the following companies:

Company

Country of registration or

Shares held

incorporation

Class

Subsidiary undertakings

Liberty Mercian (Oswestry) Limited

England and Wales

Ordinary

50.00

The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:

Capital and reserves

Profit/(loss) for the year

2016

Principal activity

Liberty Mercian (Oswestry) Limited

Property development

119,937

(480,221)

Share capital

2016

2015

Allotted, called up and fully paid

48,500 Ordinary shares of £1 each

48,500

M D SHREWSBURY LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 NOVEMBER 2016

- 4 -

Ultimate parent company

The ultimate parent company is Merbuild (Holdings) Limited, a company registered in England and Wales.