Machine Tool Asset Management Limited - Accounts to registrar - small 17.2

Machine Tool Asset Management Limited - Accounts to registrar - small 17.2

MACHINE TOOL ASSET MANAGEMENT LIMITED - Company Information

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REGISTERED NUMBER: 05641295 (England and Wales)










Machine Tool Asset Management Limited

Unaudited Financial Statements

for the Year Ended 31 December 2016






Machine Tool Asset Management Limited (Registered number: 05641295)






Contents of the Financial Statements
for the year ended 31 December 2016




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Machine Tool Asset Management Limited

Company Information
for the year ended 31 December 2016







DIRECTOR: Mr G J Evans





SECRETARY: Mrs T M Evans





REGISTERED OFFICE: Meadow Cottage
Old Hall Lane
Hargrave
Nr Chester
Cheshire
CH3 7RT





REGISTERED NUMBER: 05641295 (England and Wales)





ACCOUNTANTS: Salisbury & Company
Chartered Accountants
Irish Square
Upper Denbigh Road
St Asaph
Denbighshire
LL17 0RN
Page 1
Machine Tool Asset Management Limited (Registered number: 05641295)

Balance Sheet
31 December 2016

2016 2015
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 6,000 12,000
Tangible assets 5 2,756 2,203
8,756 14,203

CURRENT ASSETS
Debtors 6 2,303 3,040
Cash at bank 686 2,177
2,989 5,217
CREDITORS
Amounts falling due within one year 7 10,552 18,893
NET CURRENT LIABILITIES (7,563 ) (13,676 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
1,193
527

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,093 427
SHAREHOLDERS' FUNDS 1,193 527

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006.

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 have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 2 August 2017 and were signed by:





Mr G J Evans - Director


The notes form part of these financial statements

Page 2
Machine Tool Asset Management Limited (Registered number: 05641295)

Notes to the Financial Statements
for the year ended 31 December 2016

1. STATUTORY INFORMATION

Machine Tool Asset Management Limited is a private company, limited by shares , registered in England and
Wales. The company's registered number and registered office address can be found on the Company
Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,
value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost
less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2016
and 31 December 2016 30,000
AMORTISATION
At 1 January 2016 18,000
Charge for year 6,000
At 31 December 2016 24,000
NET BOOK VALUE
At 31 December 2016 6,000
At 31 December 2015 12,000

Page 3 continued...
Machine Tool Asset Management Limited (Registered number: 05641295)

Notes to the Financial Statements - continued
for the year ended 31 December 2016

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2016 9,001
Additions 964
At 31 December 2016 9,965
DEPRECIATION
At 1 January 2016 6,798
Charge for year 411
At 31 December 2016 7,209
NET BOOK VALUE
At 31 December 2016 2,756
At 31 December 2015 2,203

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2016 2015
£    £   
Other debtors 2,303 3,040

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2016 2015
£    £   
Taxation and social security 3,455 5,871
Other creditors 7,097 13,022
10,552 18,893

8. ULTIMATE CONTROLLING PARTY

The controlling party is Mr G J Evans.

9. FIRST YEAR ADOPTION

The company has adopted FRS 102 for these financial statements and for the year end 31 December 2015.
The adoption has led to no adjustments or reclassifications.


Page 4