M Maheson Limited Small abbreviated accounts

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COMPANY REGISTRATION NUMBER 07417923

M MAHESON LIMITED

UNAUDITED ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED

31 October 2016

CARSTON

Chartered Accountants

1st Floor, Tudor House

16 Cathedral Road

Cardiff

CF11 9LJ

M MAHESON LIMITED

ABBREVIATED BALANCE SHEET

31 October 2016

		2016		2015
Note		£	£	£	£
FIXED ASSETS	2
Intangible assets			-		-
Tangible assets			5,149		5,731
			-------		-------
			5,149		5,731

CURRENT ASSETS

Debtors	425,417		160,827
Cash at bank and in hand	109,130		328,351
	----------		----------
	534,547		489,178
CREDITORS: Amounts falling due within one year	98,539		62,097
	----------		----------
NET CURRENT ASSETS		436,008		427,081
		----------		----------
TOTAL ASSETS LESS CURRENT LIABILITIES		441,157		432,812
		----------		----------

CAPITAL AND RESERVES

Called up equity share capital	4	100	100
Profit and loss account		441,057	432,712
		----------	----------
SHAREHOLDERS' FUNDS		441,157	432,812
		----------	----------

For the year ended 31 October 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These abbreviated accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime.

These abbreviated accounts were approved and signed by the director and authorised for issue on 21 July 2017 .

Mr M Maheson

Company Registration Number: 07417923

M MAHESON LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

YEAR ENDED 31 OCTOBER 2016

1. ACCOUNTING POLICIES

Basis of accounting

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 comprises amounts receivable in the ordinary course of business from the principal activities of the company, exclusive of value added tax and discounts where applicable.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Goodwill-amortised over 2 years

Fixed assets

All fixed assets are initially recorded at cost.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Motor Vehicles-depreciated over 4 years

Equipment-depreciated over 4 years

Operating lease agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

2. FIXED ASSETS

Intangible Assets	Tangible Assets	Total
£	£	£

COST

At 1 November 2015	93,300	28,246	121,546
Additions	–	2,284	2,284
	---------	---------	----------
At 31 October 2016	93,300	30,530	123,830
	---------	---------	----------

DEPRECIATION

At 1 November 2015	93,300	22,515	115,815
Charge for year	–	2,866	2,866
	---------	---------	----------
At 31 October 2016	93,300	25,381	118,681
	---------	---------	----------

NET BOOK VALUE

At 31 October 2016	–	5,149	5,149
	----	-------	-------

At 31 October 2015	–	5,731	5,731
	----	-------	-------

3. TRANSACTIONS WITH THE DIRECTOR

The directors' owed the company £240,912 as at the year end. The loan is repayable on demand and interest (3% p.a.) of £3,909 was charged by the company during the year.

4. SHARE CAPITAL

Allotted, called up and fully paid:

	2016		2015
	No.	£	No.	£
Ordinary shares of £ 1 each	100	100	100	100
	----	----	----	----