M S Eyewear UK Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 06709301 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2016

FOR

M S EYEWEAR UK LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

M W Smith

REGISTERED OFFICE:

1623 Warwick Road

Knowle

Solihull

West Midlands

B93 9LF

REGISTERED NUMBER:

06709301 (England and Wales)

ACCOUNTANTS:

Athos Business Solutions

1623 Warwick Road

Knowle

Solihull

West Midlands

B93 9LF

FIXED ASSETS

Tangible assets

2

10,715

15,018

CURRENT ASSETS

Stocks

10,750

10,500

Debtors

61,554

44,687

Cash at bank

31,670

10,921

103,974

66,108

CREDITORS

Amounts falling due within one year

58,090

36,981

NET CURRENT ASSETS

45,884

29,127

TOTAL ASSETS LESS CURRENT LIABILITIES

56,599

44,145

PROVISIONS FOR LIABILITIES

2,143

3,004

NET ASSETS

54,456

41,141

CAPITAL AND RESERVES

Called up share capital

3

1

1

Retained earnings

54,455

41,140

SHAREHOLDERS' FUNDS

54,456

41,141

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 6 December 2017 and were signed by:

M W Smith - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015) and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

10% on cost

Fixtures and fittings

-

15% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2015

and 30 September 2016

32,737

DEPRECIATION

At 1 October 2015

17,719

Charge for year

4,303

At 30 September 2016

22,022

NET BOOK VALUE

At 30 September 2016

10,715

At 30 September 2015

15,018

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

1

Ordinary

£1

1

1

4.	RELATED PARTY DISCLOSURES

During the year, total dividends of £45,000 (2015 - £15,000) were paid to the director .

Included within other creditors is a balance owed to the director Mr M Smith of £1,847 (2015: £4,222).

5.	ULTIMATE CONTROLLING PARTY