Mr Rice Limited - Period Ending 2016-12-31

Registration number: 06883234

Mr Rice Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2015
 

A Singh Accountancy
Accountant
65 Lodge Road
Walsall
West Midlands
WS5 4SB

Mr Rice Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Mr Rice Limited
for the Year Ended 31 December 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Mr Rice Limited for the year ended 31 December 2015 set out on pages from the company's accounting records and from information and explanations you have given us.

As a member firm of the CIMA in England and Wales, we are subject to its professional requirements .

This report is made solely to the Board of Directors of Mr Rice 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 Mr Rice Limited We do not accept or assume responsibility for our work or for this report to anyone other than the board of directors of Mr Rice Limited

It is your duty to ensure that Mr Rice 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 Mr Rice Limited. You consider that Mr Rice 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 Mr Rice 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 statutory accounts.

......................................

A Singh Accountancy
Accountant
65 Lodge Road
Walsall
West Midlands
WS5 4SB

17 June 2016

Page 1

Mr Rice Limited
(Registration number: 06883234)
Abbreviated Balance Sheet at 31 December 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					336,500			47,664
Current assets
Stocks					145,000			134,666
Debtors					131,485			110,007
Cash at bank and in hand					-			49,391
					276,485			294,064
Creditors: Amounts falling due within one year					(599,852)			(12,508)
Net current (liabilities)/assets					(323,367)			281,556
Total assets less current liabilities					13,133			329,220
Creditors: Amounts falling due after more than one year					-			(319,331)
Net assets					13,133			9,889
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					13,033			9,789
Shareholders' funds					13,133			9,889

For the year ending 31 December 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 17 June 2016

.........................................
MR MOHAMMED AFZAL
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Mr Rice Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Commercial Vehicle	10% Reducing balance

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

Mr Rice Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 January 2015		52,174			52,174
Additions		297,000			297,000
At 31 December 2015		349,174			349,174
Depreciation
At 1 January 2015		4,510			4,510
Charge for the year		8,164			8,164
At 31 December 2015		12,674			12,674
Net book value
At 31 December 2015		336,500			336,500
At 31 December 2014		47,664			47,664

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary Class A of £1 each		99			99			99			99
Ordinary Class B of £1 each		1			1			1			1
		100			100			100			100

4

Control

The company is controlled by 51% of the shartes are owned by Mohammed Afzal business partner based in Pakistan.

Page 4