Midsummer Homes Limited

MIDSUMMER HOMES LIMITED - Company Information

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Registered number: 02548428

Abbreviated accounts

For The Year Ended 31 March 2016

Fry Associates

Midsummer Homes Limited

Company No. 02548428

Abbreviated Balance Sheet 31 March 2016

Abbreviated Balance Sheet

		2016		2015
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	2		3,258		4,089

			3,258		4,089
CURRENT ASSETS
Stocks		1,320,183		1,837,627
Debtors	3	20,869		261,553
Cash at bank and in hand		14,031		53

		1,355,083		2,099,233
Creditors: Amounts Falling Due Within One Year		(727,507)		(1,040,176)

NET CURRENT ASSETS (LIABILITIES)			627,576		1,059,057

TOTAL ASSETS LESS CURRENT LIABILITIES			630,834		1,063,146

Creditors: Amounts Falling Due After More Than One Year	4		(586,752)		(1,046,591)

NET ASSETS			44,082		16,555

CAPITAL AND RESERVES
Called up share capital	5		60		100
Other reserves			(191,958)		2
Profit and Loss Account			235,980		16,453

SHAREHOLDERS' FUNDS			44,082		16,555

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Midsummer Homes Limited

Company No. 02548428

Abbreviated Balance Sheet (continued) 31 March 2016

For the year ending 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities

The member has 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 abbreviated accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2015).

On behalf of the board

Mr Paul Martin

22/09/2016

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Midsummer Homes Limited

Notes to the Abbreviated Accounts

For The Year Ended 31 March 2016

Notes to the Abbreviated Accounts

Accounting Policies

Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Tangible Fixed Assets and Depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	20% reducing balance
Motor Vehicles	25% reducing balance
Fixtures & Fittings	20% reducing balance/33.33% reducing balance

Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

Tangible Assets


	Total
Cost	£
As at 1 April 2015	129,405

As at 31 March 2016	129,405

Depreciation
As at 1 April 2015	125,316
Provided during the period	831

As at 31 March 2016	126,147

Net Book Value
As at 31 March 2016	3,258

As at 1 April 2015	4,089

Debtors

Debtors include an amount of £ (171,970) (2015 - £ 251,720 ) falling due after more than one year.

Creditors: Amounts Falling Due After More Than One Year

	2016	2015
	£	£
Bank loans	586,752	1,046,591

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Midsummer Homes Limited

Notes to the Abbreviated Accounts (continued)

For The Year Ended 31 March 2016

Share Capital

	Value	Number	2016	2015
Allotted, called up and fully paid	£		£	£
Ordinary shares	1.000	60	60	100

	Nominal value	Number	Amount

Shares disposed during the period:	£		£
Ordinary shares	1.000	40	(40)

Transactions With and Loans to Directors

Dividends paid to directors

Ultimate Controlling Party

There is no overall controlling party.

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