| MRT Building Services Limited |
|
| Report to the director on the preparation of the unaudited abbreviated accounts of |
| MRT Building Services Limited for the year ended 31 January 2016 |
|
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abbreviated accounts of MRT Building Services Limited for the year ended 31 January 2016 which comprise of the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us. |
| As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com/ |
| This report is made solely to the Board of Directors of MRT Building Services Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of MRT Building Services Limited and state those matters that we have agreed to state to the Board of Directors of MRT Building Services Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than MRT Building Services Limited and its Board of Directors as a body for our work or for this report. |
| It is your duty to ensure that MRT Building Services Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of MRT Building Services Limited. You consider that MRT Building Services Limited is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the accounts of MRT Building Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the abbreviated accounts. |
|
| LW Accountants |
| Chartered Certified Accountants |
|
| 73 Crostons Road |
| Bury |
| Lancashire |
| BL8 1LB |
|
| 30 June 2016 |
|
| MRT Building Services Limited |
| Registered number: 06048930 |
| Abbreviated Balance Sheet |
| as at 31 January 2016 |
|
|
| Notes |
|
|
2016 |
|
|
2015 |
| £ |
£ |
| Fixed assets |
| Intangible assets |
2 |
|
|
2,500 |
|
|
5,000 |
| Tangible assets |
3 |
|
|
5,374 |
|
|
10,225 |
|
|
|
|
7,874 |
|
|
15,225 |
|
| Current assets |
| Stocks |
|
|
5,000 |
|
|
5,000 |
| Debtors |
|
|
77,120 |
|
|
81,475 |
| Cash at bank and in hand |
|
|
16,884 |
|
|
2 |
|
|
|
99,004 |
|
|
86,477 |
|
| Creditors: amounts falling due within one year |
|
|
(172,677) |
|
|
(185,532) |
|
| Net current liabilities |
|
|
|
(73,673) |
|
|
(99,055) |
|
| Net liabilities |
|
|
|
(65,799) |
|
|
(83,830) |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
4 |
|
|
50 |
|
|
50 |
| Profit and loss account |
|
|
|
(65,849) |
|
|
(83,880) |
|
| Shareholder's funds |
|
|
|
(65,799) |
|
|
(83,830) |
|
|
|
|
|
|
|
|
| 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 member has 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. |
|
|
|
| T Howlett |
| Director |
| Approved by the board on 30 June 2016 |
|
| MRT Building Services Limited |
| Notes to the Abbreviated Accounts |
| for the year ended 31 January 2016 |
|
|
| 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). |
|
The accounts have been drawn up on the going concern basis. Of the company's liabilities, £131,071 is owed to the directors. In addition, the company relies on a bank overdraft for its day to day working capital requirements. This overdraft is repayable on demand, as is common with most facilities. If the going concern basis were not appropriate, adjustments would have to be made to reclassify fixed assets as current assets and long term liabilities as current liabilities and to provide further liabilities which may arise. No adjustments will be necessary to reduce the value of current assets as these are already stated at their recoverable amount. |
|
|
Turnover |
|
Turnover represents the value, net of value added tax and discounts, 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 |
20% straight line |
|
Motor vehicles |
25% reducing balance |
|
|
Stocks |
|
Stock is valued at the lower of cost and net realisable value. Cost is determined on a first in first out basis. Net realisable value represents estimated selling price less costs to complete and sell. Provision is made for slow moving, obsolete or damaged stock where the net realisable value is less than cost. |
|
|
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. |
|
|
Leasing and hire purchase commitments |
|
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.
The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.
Rentals paid under operating leases are charged to income on a straight line basis over the lease term. |
|
|
Provisions |
|
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis. |
|
|
|
| 2 |
Intangible fixed assets |
£ |
|
|
Cost |
|
At 1 February 2015 |
25,000 |
|
At 31 January 2016 |
25,000 |
|
|
|
|
|
|
|
|
Amortisation |
|
At 1 February 2015 |
20,000 |
|
Provided during the year |
2,500 |
|
At 31 January 2016 |
22,500 |
|
|
|
|
|
|
|
|
Net book value |
|
At 31 January 2016 |
2,500 |
|
At 31 January 2015 |
5,000 |
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
£ |
|
|
Cost |
|
At 1 February 2015 |
45,156 |
|
Disposals |
(8,450) |
|
At 31 January 2016 |
36,706 |
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 February 2015 |
34,931 |
|
Charge for the year |
2,177 |
|
On disposals |
(5,776) |
|
At 31 January 2016 |
31,332 |
|
|
|
|
|
|
|
|
Net book value |
|
At 31 January 2016 |
5,374 |
|
At 31 January 2015 |
10,225 |
|
|
|
|
|
|
|
|
| 4 |
Share capital |
Nominal |
|
2016 |
|
2016 |
|
2015 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
50 |
|
50 |
|
50 |
|
|
|
|
|
|
|
|
|
