Mac Tools Manchester Ltd - Limited company - abbreviated - 11.9

Mac Tools Manchester Ltd - Limited company - abbreviated - 11.9


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REGISTERED NUMBER: 08557286(England and Wales)










Abbreviated Unaudited Accounts for the Year Ended 31 May 2015

for

Mac Tools Manchester Ltd

Mac Tools Manchester Ltd (Registered number: 08557286)






Contents of the Abbreviated Accounts
for the Year Ended 31 May 2015




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 4

Mac Tools Manchester Ltd

Company Information
for the Year Ended 31 May 2015







DIRECTOR: W McKeever





SECRETARY:





REGISTERED OFFICE: Office 12
The Bentalls Centre,
Colchester Rd, Heybridge
Maldon
Essex
CM9 4GD





REGISTERED NUMBER: 08557286(England and Wales)





ACCOUNTANTS: Accounting Plus UK Ltd
Office 12
The Bentalls Centre
Colchester Road, Heybridge
Maldon
Essex
CM9 4GD

Mac Tools Manchester Ltd (Registered number: 08557286)

Abbreviated Balance Sheet
31 May 2015

31.5.15 31.5.14
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 2 18,000 24,000
Tangible assets 3 12,991 19,159
30,991 43,159

CURRENT ASSETS
Stocks 27,453 17,217
Debtors 82,286 59,726
Cash at bank and in hand 7,710 3,620
117,449 80,563
CREDITORS
Amounts falling due within one year 56,342 110,345
NET CURRENT ASSETS/(LIABILITIES) 61,107 (29,782 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

92,098

13,377

CREDITORS
Amounts falling due after more than one
year

4

75,827

13,172
NET ASSETS 16,271 205

CAPITAL AND RESERVES
Called up share capital 5 100 100
Profit and loss account 16,171 105
SHAREHOLDERS' FUNDS 16,271 205

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2015 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.

Mac Tools Manchester Ltd (Registered number: 08557286)

Abbreviated Balance Sheet - continued
31 May 2015


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 16 February 2016and were signed by:





W McKeever- Director


Mac Tools Manchester Ltd (Registered number: 08557286)

Notes to the Abbreviated Accounts
for the Year Ended 31 May 2015

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 in 2014, is being amortised evenly over its estimated useful life of five years.

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 reducing balance
Computer equipment - 33% on cost

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
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.

2. INTANGIBLE FIXED ASSETS
Total
£   
COST
At 1 June 2014
and 31 May 2015 30,000
AMORTISATION
At 1 June 2014 6,000
Amortisation for year 6,000
At 31 May 2015 12,000
NET BOOK VALUE

At 31 May 2015 18,000
At 31 May 2014 24,000

Mac Tools Manchester Ltd (Registered number: 08557286)

Notes to the Abbreviated Accounts - continued
for the Year Ended 31 May 2015

3. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 June 2014 26,107
Additions 1,166
At 31 May 2015 27,273
DEPRECIATION
At 1 June 2014 6,948
Charge for year 7,334
At 31 May 2015 14,282
NET BOOK VALUE
At 31 May 2015 12,991
At 31 May 2014 19,159

4. CREDITORS

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

31.5.15 31.5.14
£    £   
Repayable by instalments (917 ) -

5. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.15 31.5.14
value: £    £   
100 Ordinary £1 100 100

6. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Director loan to the company 2015 £74,409 2014 £74,409
Directors salary 2015 £7,956 2014 £1326
Dividends 2015 £22,994