MUAL Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 07282631 (England and Wales)

Financial Statements

for the Period 1 July 2015 to 30 November 2016

for

MUAL Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J R Blake

E M McDonald

SECRETARY:

E M McDonald

REGISTERED OFFICE:

Centrepoint House

2 Denmark Road

Guildford

Surrey

GU1 4DA

REGISTERED NUMBER:

07282631 (England and Wales)

ACCOUNTANTS:

Barnbrook Sinclair

Chartered Accountants

Chancery House

30 St Johns Road

Woking

Surrey

GU21 7SA

FIXED ASSETS

Tangible assets

2

16,125

35,532

CURRENT ASSETS

Debtors

3

412,958

21,605

Cash at bank

42,660

17,140

455,618

38,745

CREDITORS

Amounts falling due within one year

4

(628,823

)

(93,987

)

NET CURRENT LIABILITIES

(173,205

)

(55,242

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(157,080

)

(19,710

)

CAPITAL AND RESERVES

Called up share capital

5

1

1

Profit and loss account

6

(157,081

)

(19,711

)

SHAREHOLDERS' FUNDS

(157,080

)

(19,710

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 November 2016.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 November 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

The financial statements were approved by the Board of Directors on 29 August 2017 and were signed on its behalf by:

E M McDonald - Director

1.	ACCOUNTING POLICIES

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).

Turnover

Turnover represents the value of services provided to customers during the year.

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

-

33% on cost

Going concern basis

The financial statements have been prepared on the going concern basis, despite the net liability position of

£157,080 (2015: 19,710) as shown on the balance sheet. The basis is supported by the continued financial

support from the related party Business Insurance Solutions Ltd which is not planned to be withdrawn in the

foreseeable future.

2.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

Cost

At 1 July 2015

and 30 November 2016

41,139

Depreciation

At 1 July 2015

5,607

Charge for period

19,407

At 30 November 2016

25,014

Net book value

At 30 November 2016

16,125

At 30 June 2015

35,532

3.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/11/16

30/6/15

£

£

Trade debtors

396,651

20,037

Other debtors

16,307

1,568

412,958

21,605

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/11/16

30/6/15

£

£

Trade creditors

412,633

33,514

Taxation and social security

9,776

792

Other creditors

206,414

59,681

628,823

93,987

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30/11/16

30/6/15

value:

£

£

1

Ordinary

£1

1

1

6.

RESERVES

Profit

and loss

account

£

At 1 July 2015

(19,711

)

Deficit for the period

(137,370

)

At 30 November 2016

(157,081

)

7.	RELATED PARTY DISCLOSURES

Included in creditors due within one year is an amount due to Business Insurance Solutions Ltd of £204,614

(2015 : £57,882). The loan is interest free and repayable upon demand. MUAL and Business Insurance Solutions

Ltd are related by virtue of common control.

8.	ULTIMATE CONTROLLING PARTY

The immediate parent company is Centurian 888 Global Limited, a company registered in BVI. The utlimate

controlling party is the trustees of the Centurian Enterprise Trust, registered in Jersey.