MIDLAND ABRASIVES LTD Accounts filed on 31-03-2014

MIDLAND ABRASIVES LTD Accounts filed on 31-03-2014

MIDLAND ABRASIVES LTD - Company Information

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MIDLAND ABRASIVES LTD




Company Registration Number:
05221635 (England and Wales)



Abbreviated (Unaudited) Accounts



Period of accounts


Start date: 01st April 2013

End date: 31st March 2014

SUBMITTED

MIDLAND ABRASIVES LTD

Company Information
for the Period Ended 31st March 2014




Director: C . Davis
S. Kumar
J. Nijjar
Company secretary: C. Davis
Registered office: Units 8/ 9 Boulton Industrial
Centre, Icknield Street
Hockley, Birmingham
West Midlands
B18 5AU
Company Registration Number: 05221635 (England and Wales)

MIDLAND ABRASIVES LTD

Abbreviated Balance sheet
As at 31st March 2014

Notes 2014
£		 2013
£
Fixed assets
Tangible assets: 2 4,540 6,040
Total fixed assets: 4,540 6,040
Current assets
Stocks: 47,192 44,660
Debtors: 109,645 98,044
Cash at bank and in hand: 11,462 6,702
Total current assets: 168,299 149,406
Creditors
Creditors: amounts falling due within one year 149,834 138,979
Net current assets (liabilities): 18,465 10,427
Total assets less current liabilities: 23,005 16,467
Provision for liabilities: 873 1,600
Total net assets (liabilities): 22,132 14,867

The notes form part of these financial statements

MIDLAND ABRASIVES LTD

Abbreviated Balance sheet
As at 31st March 2014
continued

Notes 2014
£		 2013
£
Capital and reserves
Called up share capital: 3 90 90
Profit and Loss account: 22,042 14,777
Total shareholders funds: 22,132 14,867

For the year ending 31 March 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

The financial statements were approved by the Board of Directors on 02 December 2014

SIGNED ON BEHALF OF THE BOARD BY:

Name: C . Davis
Status: Director

The notes form part of these financial statements

MIDLAND ABRASIVES LTD

Notes to the Abbreviated Accounts
for the Period Ended 31st March 2014

  • 1. Accounting policies

    Basis of measurement and preparation of accounts

    The financial statements have been prepared under the historical cost convention, and include the results of the company's main activities, all of which are continuing.

    Turnover policy

    Turnover represents sales and charges excluding Value Added Tax and trade discounts.

    Tangible fixed assets depreciation policy

    Depreciation is provided at applicable rates calculated to write off the cost of fixed assets over their estimated useful life.

MIDLAND ABRASIVES LTD

Notes to the Abbreviated Accounts
for the Period Ended 31st March 2014

  • 2. Tangible assets

    Total
    Cost £
    At 01st April 2013: 11,492
    At 31st March 2014: 11,492
    Depreciation
    At 01st April 2013: 5,452
    Charge for year: 1,500
    At 31st March 2014: 6,952
    Net book value
    At 31st March 2014: 4,540
    At 31st March 2013: 6,040

MIDLAND ABRASIVES LTD

Notes to the Abbreviated Accounts
for the Period Ended 31st March 2014

  • 3. Called up share capital

    Allotted, called up and paid

    Previous period 2013
    Class Number of shares Nominal value per share Total
    Ordinary shares: 90 1.00
    1.00
    		90
    Total share capital: 90
    Current period 2014
    Class Number of shares Nominal value per share Total
    Ordinary shares: 90 1.00
    1.00
    		90
    Total share capital: 90

MIDLAND ABRASIVES LTD

Notes to the Abbreviated Accounts
for the Period Ended 31st March 2014

  • 5. Related party disclosures

    Name of the ultimate controlling party during the period: Directors
    Name of related party: Workblades and Formers Limited
    Relationship: Associated Company
    Description of the transaction: Inter - Company Trading
    Balance at 01st April 2013 36,694
    Balance at 31st March 2014 31,083