MUSTRADE_LIMITED - Accounts

MUSTRADE LIMITED - Company Information

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Company Registration No. 06508377 (England and Wales)

MUSTRADE LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 28 FEBRUARY 2014

MUSTRADE LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

MUSTRADE LIMITED

ABBREVIATED BALANCE SHEET

AS AT

28 FEBRUARY 2014

- 1 -

2014

2013

Notes

Fixed assets

Intangible assets

52,812

56,562

Tangible assets

1,300

1,530

54,112

58,092

Current assets

Stocks

400

Debtors

1,708

961

Cash at bank and in hand

7,391

12,183

9,499

13,544

Creditors: amounts falling due within one year

(62,304)

(64,188)

Net current liabilities

(52,805)

(50,644)

Total assets less current liabilities

1,307

7,448

Provisions for liabilities

(77)

(87)

1,230

7,361

Capital and reserves

Called up share capital

100

Profit and loss account

1,130

7,261

Shareholders' funds

1,230

7,361

MUSTRADE LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

28 FEBRUARY 2014

- 2 -

For the financial year ended 28 February 2014 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 26 November 2014

Mr R Mustchin

Director

Company Registration No. 06508377

MUSTRADE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 28 FEBRUARY 2014

- 3 -

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 April 2008).

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

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:

Plant and machinery

15% p.a. on the reducing balance basis

Fixtures, fittings & equipment

15% p.a. on the reducing balance basis

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 March 2013 & at 28 February 2014

75,000

3,365

78,365

Depreciation

At 1 March 2013

18,438

1,835

20,273

Charge for the year

3,750

230

3,980

At 28 February 2014

22,188

2,065

24,253

Net book value

At 28 February 2014

52,812

1,300

54,112

At 28 February 2013

56,562

1,530

58,092

Share capital

2014

2013

Allotted, called up and fully paid

100 Ordinary Shares of £1 each

100

MUSTRADE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 28 FEBRUARY 2014

- 4 -

Related party relationships and transactions

Loans from directors

Transactions in relation to loans with directors during the year are outlined in the table below:

Description

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

Mr R Mustchin -

38,498

1,351

39,849

Mrs K Mustchin -

14,506

(3,015)

11,491

53,004

1,351

(3,015)

51,340