MJG JOINERY LIMITED Accounts filed on 31-05-2015
MJG JOINERY LIMITED Accounts filed on 31-05-2015
MJG JOINERY LIMITED
Company Registration Number:
06897717 (England and Wales)
Abbreviated (Unaudited) Accounts
Period of accounts
Start date: 01st June 2014
End date: 31st May 2015
SUBMITTED
MJG JOINERY LIMITED
Company Information
for the Period Ended
31st May 2015
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MJG JOINERY LIMITED
Abbreviated Balance sheet
As at 31st May 2015
| Notes | 2015 £ |
2014 £ |
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| Fixed assets | |||
| Tangible assets: | 4 |
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| Total fixed assets: |
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| Current assets | |||
| Debtors: | 5 |
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| Cash at bank and in hand: |
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| Creditors | |||
| Creditors: amounts falling due within one year | 6 |
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| Net current assets (liabilities): | ( |
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| Total assets less current liabilities: |
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| Creditors: amounts falling due after more than one year: | 7 |
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| Total net assets (liabilities): | ( |
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The notes form part of these financial statements
MJG JOINERY LIMITED
Abbreviated Balance sheet
As at 31st May 2015
continued
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2014 £ |
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| Capital and reserves | |||
| Called up share capital: | 8 |
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| Profit and Loss account: | ( |
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| Total shareholders funds: | ( |
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The financial statements were approved by the Board of Directors on
SIGNED ON BEHALF OF THE BOARD BY:
Name: M J Greenhalgh
Status: Director
The notes form part of these financial statements
MJG JOINERY LIMITED
Notes to the Abbreviated Accounts
for the Period Ended
31st May 2015
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1. Accounting policies
Basis of measurement and preparation of accounts
The financial statements are prepared under the historical cost convention and incorporate the results of the principal activity which is described in the director's report and which is continuing. Turnover policy
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. Tangible fixed assets depreciation policy
Tangible fixed assets are stated at cost less depreciation Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following bases: Plant and Machinery - 15% per annum of net book value Fixtures and Fittings - 15 % per annum of net book value Motor Vehicles - 25% per annum of net book value Other accounting policies
Cashflow statement The Company has taken advantage of the exemption in Financial Reporting Standard No.1 from the requirement to produce a cashflow statement on the grounds that it is a small company. Debtors The Director has decided that no provision is required for bad or doubtful debts. Deferred taxation Provision is made for taxation deferred as a result of material timing differences between the incidence of income and expenditure for taxation purposes, using the liability method, only to the extent that, in the opinion of the directors, there is a reasonable probability that a liability or asset will crystallise in the near future. Leasing Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets and depreciated over the shorter of the lease term and their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
MJG JOINERY LIMITED
Notes to the Abbreviated Accounts
for the Period Ended
31st May 2015
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4. Tangible assets
Total Cost £ At 01st June 2014: 18,293 Additions: 1,960 At 31st May 2015: 20,253 Depreciation At 01st June 2014: 3,927 Charge for year: 3,681 At 31st May 2015: 7,608 Net book value At 31st May 2015: 12,645 At 31st May 2014: 14,366
MJG JOINERY LIMITED
Notes to the Abbreviated Accounts
for the Period Ended
31st May 2015
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5. Debtors
2015
£2014
£Trade debtors: - 2,611 Other debtors: 4,007 3,375 Total: 4,007 5,986
MJG JOINERY LIMITED
Notes to the Abbreviated Accounts
for the Period Ended
31st May 2015
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6. Creditors: amounts falling due within one year
2015
£2014
£Bank loans and overdrafts: 4,302 2,950 Amounts due under finance leases and hire purchase contracts: 2,716 - Trade creditors: - 17,131 Taxation and social security: 2,198 - Accruals and deferred income: 623 625 Other creditors: 368 440 Total: 10,207 21,146
MJG JOINERY LIMITED
Notes to the Abbreviated Accounts
for the Period Ended
31st May 2015
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7. Creditors: amounts falling due after more than one year
2015
£2014
£Bank loans and overdrafts: 1,200 6,736 Amounts due under finance leases and hire purchase contracts: 8,374 - Total: 9,574 6,736