M N Solutions Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 08915418 (England and Wales)

Unaudited Financial Statements

For The Year Ended 31 March 2017

for

M N Solutions Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr S Lovell

REGISTERED OFFICE:

The Stables

Church Walk

Daventry

Northamptonshire

NN11 4BL

REGISTERED NUMBER:

08915418 (England and Wales)

ACCOUNTANTS:

Cottons Accountants LLP

Chestnut Field House

Chestnut Field

Rugby

Warwickshire

CV21 2PD

FIXED ASSETS

Intangible assets

4

4,035

6,052

Tangible assets

5

1,894

1,039

5,929

7,091

CURRENT ASSETS

Debtors

73

-

Cash at bank

5,776

11,512

5,849

11,512

CREDITORS

Amounts falling due within one year

10,850

18,120

NET CURRENT LIABILITIES

(5,001

)

(6,608

)

TOTAL ASSETS LESS CURRENT LIABILITIES

928

483

PROVISIONS FOR LIABILITIES

360

-

NET ASSETS

568

483

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

468

383

568

483

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2017 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss Account has not been delivered.

The financial statements were approved by the director on 19 December 2017 and were signed by:

Mr S Lovell - Director

1.	STATUTORY INFORMATION

M N Solutions Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

In the application of the company's accounting policies, the directors are required to make judgements, estimates and

assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The

estimates and associated assumptions are based on historical experience and other factors that are considered to be

relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are

recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of

revision and future periods where the revision affects both current and future periods.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the

normal course of business, and is shown net of value added tax and other sales related taxes. The fair value of

consideration takes into account trade discounts, settlement discounts and volume rebates. For sales of goods, the

turnover is shown net of distribution and carriage charges.

Revenue from sale of goods is recognised when significant risks and rewards of ownership have been transferred to the

buyer, when the amount of revenue can be measured reliably, when it is probable that the economic benefits associated

with the transaction will flow to the entity and when the costs incurred or to be incurred in respect of the transaction can

be measured reliably.

Revenue from sale of services is recognised when the stage of completion of the transaction can be measured reliably.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any

accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Computer equipment

-

15% on reducing balance

Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether

there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable

amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible

to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the

cash-generating unit to which the asset belongs.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss Account, except to the

extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

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

date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in

which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been

enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be

recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme

are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2016 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2016

and 31 March 2017

10,084

AMORTISATION

At 1 April 2016

4,032

Amortisation for year

2,017

At 31 March 2017

6,049

NET BOOK VALUE

At 31 March 2017

4,035

At 31 March 2016

6,052

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2016

1,484

Additions

1,191

At 31 March 2017

2,675

DEPRECIATION

At 1 April 2016

445

Charge for year

336

At 31 March 2017

781

NET BOOK VALUE

At 31 March 2017

1,894

At 31 March 2016

1,039