McBaile Ltd - Limited company - abbreviated - 11.6

MCBAILE LTD

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2014

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

R A McCormick

Mrs L McCormick

REGISTERED OFFICE:

Unit 1

Rivermead

Dean Road

Yate

Bristol

BS37 5NH

REGISTERED NUMBER:

07015616 (England and Wales)

ACCOUNTANTS:

Bowen Accountants Ltd

Chartered Accountants

Griffon House

Seagry Heath

Great Somerford

Wiltshire

SN15 5EN

FIXED ASSETS

Tangible assets

2

39,427

29,692

CURRENT ASSETS

Stocks

14,920

21,529

Debtors

144,533

144,320

Cash at bank and in hand

113,054

104,153

272,507

270,002

CREDITORS

Amounts falling due within one year

280,996

284,156

NET CURRENT LIABILITIES

(8,489

)

(14,154

)

TOTAL ASSETS LESS CURRENT LIABILITIES

30,938

15,538

CREDITORS

Amounts falling due after more than one year

-

(3,103

)

PROVISIONS FOR LIABILITIES

(6,489

)

(2,739

)

NET ASSETS

24,449

9,696

CAPITAL AND RESERVES

Called up share capital

3

100

100

Profit and loss account

24,349

9,596

SHAREHOLDERS' FUNDS

24,449

9,696

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2014 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 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 Board of Directors on 10 December 2014 and were signed on its behalf by:

Mrs L McCormick - Director

R A McCormick - 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 April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax, except in respect of service contracts

where turnover is recognised when the company obtains the right to consideration.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

15% on reducing balance

Office equipment

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

46,753

Additions

26,318

Disposals

(14,725

)

At 31 March 2014

58,346

DEPRECIATION

At 1 April 2013

17,061

Charge for year

5,883

Eliminated on disposal

(4,025

)

At 31 March 2014

18,919

NET BOOK VALUE

At 31 March 2014

39,427

At 31 March 2013

29,692

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

100

Ordinary

£1.00

100

100