MAISY CLOTHING LTD - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 08057125 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 May 2014

for

MAISY CLOTHING LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

Miss R Kasiri

REGISTERED OFFICE:

36 Mill Street

Macclesfield

Cheshire

SK11 6LT

REGISTERED NUMBER:

08057125 (England and Wales)

ACCOUNTANTS:

Lucas Reis Limited

Landmark House

Station Rd

Cheadle Hulme

Cheshire

SK8 7BS

FIXED ASSETS

Tangible assets

2

5,353

155

CURRENT ASSETS

Stocks

13,226

11,643

Debtors

3

10,432

247

Cash at bank and in hand

11,939

17,170

35,597

29,060

CREDITORS

Amounts falling due within one year

16,019

8,790

NET CURRENT ASSETS

19,578

20,270

TOTAL ASSETS LESS CURRENT LIABILITIES

24,931

20,425

PROVISIONS FOR LIABILITIES

583

155

NET ASSETS

24,348

20,270

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

24,248

20,170

SHAREHOLDERS' FUNDS

24,348

20,270

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 26 February 2015 and were signed by:

Miss R Kasiri - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention.

Financial reporting standard number 1

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a

small company.

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.

Land and buildings

-

10% on cost

Plant and machinery etc

-

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

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 June 2013

207

Additions

6,302

At 31 May 2014

6,509

DEPRECIATION

At 1 June 2013

52

Charge for year

1,104

At 31 May 2014

1,156

NET BOOK VALUE

At 31 May 2014

5,353

At 31 May 2013

155

3.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

The aggregate total of debtors falling due after more than one year is £ 7,500

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.14

31.5.13

value:

£

£

100

Ordinary

1

100

100