MMG Building Services & Developments Limited - Abbreviated accounts

MMG BUILDING SERVICES & DEVELOPMENTS LIMITED - Company Information

Registered number

06165957

MMG Building Services & Developments Limited

Abbreviated Accounts

31 March 2015

MMG Building Services & Developments Limited
Registered number:		06165957
Abbreviated Balance Sheet
as at 31 March 2015

Notes			2015			2014
£				£
Fixed assets
Tangible assets	2		32,308			37,376

Current assets
Stocks		-			4,850
Debtors		152,440			180,602
Cash at bank and in hand		65,786			49,970
		218,226			235,422

Creditors: amounts falling due within one year		(177,393)			(134,019)

Net current assets			40,833			101,403

Total assets less current liabilities			73,141			138,779


Provisions for liabilities			(5,271)			(6,284)


Net assets			67,870			132,495

Capital and reserves
Called up share capital	3		100			100
Profit and loss account			67,770			132,395

Shareholders' funds			67,870			132,495

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.



Mr M. Georgiou
Director
Approved by the board on 22 December 2015

MMG Building Services & Developments Limited
Notes to the Abbreviated Accounts
for the year ended 31 March 2015

1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

	Turnover
	Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

	Depreciation
	Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

	Plant and machinery			25% reducing balance

	Stocks
	Long-term contract balances are valued at costs incurred on specific contracts, net of amounts transferred to cost of sales in respect of work recorded as turnover, less any foreseeable losses. Stock is valued at the lower of cost and net realisable value.

	Deferred taxation
	Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.

	Foreign currencies
	Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.
	Leasing and hire purchase commitments
	Rentals paid under operating leases are charged to income on a straight line basis over the lease term.

2	Tangible fixed assets					£

	Cost
	At 1 April 2014					68,508
	Additions					6,200
	At 31 March 2015					74,708

	Depreciation
	At 1 April 2014					31,132
	Charge for the year					11,268
	At 31 March 2015					42,400

	Net book value
	At 31 March 2015					32,308
	At 31 March 2014					37,376


3	Share capital	Nominal		2015		2015		2014
value			Number		£		£
	Allotted, called up and fully paid:
	Ordinary shares	£1 each		100		100		100


4	Loans to directors
	Description and conditions	B/fwd	Paid		Repaid		C/fwd
£			£		£		£
	Mr M. Georgiou
	Interest-free loan included in other debtors	(12,086)		328,218		(328,463)		(12,331)

		(12,086)		328,218		(328,463)		(12,331)