MONEY_TRADERS_(SS)_LIMITE - Accounts

MONEY_TRADERS_(SS)_LIMITE - Accounts

MONEY TRADERS (SS) LIMITED - Company Information

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Company Registration No. 09256538 (England and Wales)
MONEY TRADERS (SS) LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 OCTOBER 2016
MONEY TRADERS (SS) LIMITED
CONTENTS
Page
Accountants' report
1
Abbreviated balance sheet
2 - 3
Notes to the abbreviated accounts
4 - 5
MONEY TRADERS (SS) LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF MONEY TRADERS (SS) LIMITED FOR THE YEAR ENDED 31 OCTOBER 2016
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Money Traders (SS) Limited for the year ended 31 October 2016 set out on pages 2 to 5 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, we are subject to its ethical and other professional requirements which are detailed at icaew.com/regulations.

This report is made solely to the Board of Directors of Money Traders (SS) Limited, as a body, in accordance with the terms of our engagement letter dated 22 June 2016. Our work has been undertaken solely to prepare for your approval the financial statements of Money Traders (SS) Limited and state those matters that we have agreed to state to the Board of Directors of Money Traders (SS) Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Money Traders (SS) Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Money Traders (SS) Limited 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 Money Traders (SS) Limited. You consider that Money Traders (SS) Limited 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 Money Traders (SS) Limited. 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.
Moore and Smalley LLP
Chartered Accountants
Fylde House
Skyways Commercial Campus
Amy Johnson Way
Blackpool
FY4 3RS
31 July 2017
MONEY TRADERS (SS) LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 OCTOBER 2016
31 October 2016
- 2 -
2016
2015
Notes
£
£
£
£
Fixed assets
Intangible assets
2
96,000
108,000
Tangible assets
2
3,600
4,500
99,600
112,500
Current assets
Stocks
81,733
71,296
Debtors
2,719
3,996
Cash at bank and in hand
20,796
26,726
105,248
102,018
Creditors: amounts falling due within one year
(198,509)
(203,022)
Net current liabilities
(93,261)
(101,004)
Total assets less current liabilities
6,339
11,496
Provisions for liabilities
(465)
(589)
5,874
10,907
Capital and reserves
Called up share capital
3
200
200
Profit and loss account
5,674
10,707
Shareholders'  funds
5,874
10,907
MONEY TRADERS (SS) LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 OCTOBER 2016
31 October 2016
- 3 -
For the financial 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 financial statements for the year in question in accordance with section 476;
-
The director acknowledges his 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 31 July 2017
Mr R Gaskin
Director
Company Registration No. 09256538
MONEY TRADERS (SS) LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 OCTOBER 2016
- 4 -
1
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
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 net of VAT and trade discounts relating to pawn broking of electrical items, jewellery etc . relating to pawn broking of electrical items, jewellery etc.

1.4
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.
1.5
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 & equipment
20% Reducing balance
1.6
Stock
Stock is valued at the lower of cost and net realisable value.
1.7
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes.  The deferred tax balance has not been discounted.
1.8
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
MONEY TRADERS (SS) LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2016
- 5 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 November 2015 & at 31 October 2016
120,000
6,000
126,000
Depreciation
At 1 November 2015
12,000
1,500
13,500
Charge for the year
12,000
900
12,900
At 31 October 2016
24,000
2,400
26,400
Net book value
At 31 October 2016
96,000
3,600
99,600
At 31 October 2015
108,000
4,500
112,500
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
150 Ordinary 'A' shares of £1 each
150
150
25 Ordinary 'B' shares of £1 each
25
25
25 Ordinary 'C' shares of £1 each
25
25
200
200
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