Mobile Freight Services (Midlands) Ltd - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 02347762 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 January 2015

for

Mobile Freight Services (Midlands)

Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mr D A Jolly

Mrs J P Jolly

Mr I R Jolly

SECRETARY:

Mrs J P Jolly

REGISTERED OFFICE:

200 Park Lane

Castle Vale

Birmingham

B35 6LJ

REGISTERED NUMBER:

02347762 (England and Wales)

FIXED ASSETS

Tangible assets

2

1,244,637

1,245,691

Investments

3

10,000

-

1,254,637

1,245,691

CURRENT ASSETS

Debtors

439,142

414,976

Prepayments and accrued income

144,901

163,878

Cash in hand

100

302

584,143

579,156

CREDITORS

Amounts falling due within one year

4

817,452

724,582

NET CURRENT LIABILITIES

(233,309

)

(145,426

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,021,328

1,100,265

CREDITORS

Amounts falling due after more than one year

4

(414,864

)

(498,276

)

PROVISIONS FOR LIABILITIES

(42,676

)

(10,893

)

NET ASSETS

563,788

591,096

CAPITAL AND RESERVES

Called up share capital

5

100

100

Profit and loss account

563,688

590,996

SHAREHOLDERS' FUNDS

563,788

591,096

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2015 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 16 September 2015 and were signed on its behalf by:

Mr D A Jolly - Director

Mr I R Jolly - 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business has been fully amortised in the current year.

Tangible fixed assets

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

Plant and machinery

-

15% on cost

Fixtures and fittings

-

10% on cost

Motor vehicles

-

20% on reducing balance

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.

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 the profit and loss account in the period to which they relate.

Motor vehicle depreciation

The method of depreciation for motor vehicles was changed this year from 25% straight line to 20% reducing

balance basis, as the directors believe this is a more realistic write down basis for the motor vehicle fleet.. As a

result of this change the depreciation charge has this year reduced by £117,499.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 February 2014

2,255,997

Additions

169,027

Disposals

(252,190

)

At 31 January 2015

2,172,834

DEPRECIATION

At 1 February 2014

1,010,306

Charge for year

142,588

Eliminated on disposal

(224,697

)

At 31 January 2015

928,197

NET BOOK VALUE

At 31 January 2015

1,244,637

At 31 January 2014

1,245,691

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

Additions

10,000

At 31 January 2015

10,000

NET BOOK VALUE

At 31 January 2015

10,000

4.

CREDITORS

Creditors include an amount of £ 820,200 (31.1.14 - £ 854,311 ) for which security has been given.

They also include the following debts falling due in more than five years:

31.1.15

31.1.14

£

£

Repayable by instalments

173,887

193,462

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.1.15

31.1.14

value:

£

£

100

Ordinary

£1

100

100