Maronway Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 07960376

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31ST MARCH 2014

FOR

MARONWAY LIMITED

Page

Company Information

1

Chartered Accountants' Report

2

Abbreviated Balance Sheet

3

Notes to the Abbreviated Accounts

5

DIRECTOR:

O E Marston

REGISTERED OFFICE:

229 West Street

Fareham

Hampshire

PO16 0HZ

REGISTERED NUMBER:

07960376

ACCOUNTANTS:

Rothman Pantall LLP

Chartered Accountants

229 West Street

Fareham

Hampshire

PO16 0HZ

The following reproduces the text of the report prepared for the director in respect of the

company's annual unaudited financial statements, from which the unaudited abbreviated

accounts (set out on pages three to seven) have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for

your approval the financial statements of Maronway Limited for the year ended 31st March 2014

which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the

company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales

(ICAEW), we are subject to its ethical and other professional requirements which are detailed at

icaew.com/membershandbook.

This report is made solely to the director of Maronway Limited in accordance with our terms of

engagement. Our work has been undertaken solely to prepare for your approval the financial

statements of Maronway Limited and state those matters that we have agreed to state to the

director of Maronway Limited in this report in accordance with AAF 2/10 as detailed at

icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume

responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Maronway Limited has kept adequate accounting records and to

prepare statutory financial statements that give a true and fair view of the assets, liabilities,

financial position and profit of Maronway Limited. You consider that Maronway Limited is exempt

from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of

Maronway Limited. For this reason, we have not verified the accuracy or completeness of the

accounting records or information and explanations you have given to us and we do not, therefore,

express any opinion on the statutory financial statements.

Rothman Pantall LLP

Chartered Accountants

229 West Street

Fareham

Hampshire

PO16 0HZ

23rd December 2014

FIXED ASSETS

Tangible assets

2

12,502

14,829

CURRENT ASSETS

Debtors

309,715

64,293

Cash at bank and in hand

2,998

4,189

312,713

68,482

CREDITORS

Amounts falling due within one year

3

403,877

208,216

NET CURRENT LIABILITIES

(91,164

)

(139,734

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(78,662

)

(124,905

)

CREDITORS

Amounts falling due after more than one year

3

-

1,863

NET LIABILITIES

(78,662

)

(126,768

)

CAPITAL AND RESERVES

Called up share capital

4

1

1

Profit and loss account

(78,663

)

(126,769

)

SHAREHOLDERS' FUNDS

(78,662

)

(126,768

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2014 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 23rd December 2014 and were signed by:

O E Marston - 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

-

25% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

33% on cost

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 1st April 2013

19,865

Additions

3,726

At 31st March 2014

23,591

DEPRECIATION

At 1st April 2013

5,036

Charge for year

6,053

At 31st March 2014

11,089

NET BOOK VALUE

At 31st March 2014

12,502

At 31st March 2013

14,829

3.

CREDITORS

Creditors include an amount of £ 2,081 (2013 - £ 5,057 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

1

Ordinary

1

1

1

5.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended

31st March 2014 and the period ended 31st March 2013:

2014

2013

£

£

O E Marston

Balance outstanding at start of year

-

-

Amounts advanced

24,052

-

Amounts repaid

(24,052

)

-

Balance outstanding at end of year

-

-

6.	GOING CONCERN

The company meets it day to day working capital requirements through the support of the

director and creditors. The director considers it appropriate to draw the accounts up on a

going concern basis, as they are satisfied the company, with the above mentioned continued

support, will have adequate cash resources to continue to trade for a period of at least 12

months from the date of approval of the accounts.The director also anticipates that the

company will return to profitability in the next year and will remain profitable for a period of

12 months from the date of approval of the accounts.