Abbreviated Company Accounts - MANCHESTER INDUSTRIAL FINANCE LIMITED

MANCHESTER INDUSTRIAL FINANCE LIMITED - Company Information

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Registered Number 00599711

MANCHESTER INDUSTRIAL FINANCE LIMITED

Abbreviated Accounts

31 December 2013

MANCHESTER INDUSTRIAL FINANCE LIMITED Registered Number 00599711

Abbreviated Balance Sheet as at 31 December 2013

	Notes	2013	2012
		£	£
Fixed assets
Tangible assets	2	336	528
		336	528
Current assets
Debtors		366,833	285,677
Investments		1,801	1,081
Cash at bank and in hand		3,390	1,211
		372,024	287,969
Prepayments and accrued income		90	1,885
Creditors: amounts falling due within one year		(77,210)	(62,522)
Net current assets (liabilities)		294,904	227,332
Total assets less current liabilities		295,240	227,860
Accruals and deferred income		(2,792)	(3,658)
Total net assets (liabilities)		292,448	224,202
Capital and reserves
Called up share capital	3	60,000	60,000
Profit and loss account		232,448	164,202
Shareholders' funds		292,448	224,202

For the year ending 31 December 2013 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 directors acknowledge their 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 Board on 30 September 2014

And signed on their behalf by:
STEPHEN BLANK, Director

MANCHESTER INDUSTRIAL FINANCE LIMITED Registered Number 00599711

Notes to the Abbreviated Accounts for the period ended 31 December 2013

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents interest receivable on loans made by the company, profits from the sales of quoted investments and the total invoice value in respect of consultancy fees, excluding value added tax, of sales made during the year and derives from the provision of goods falling within the company's ordinary activities.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:

Fixtures, fittings
and equipment - 25% straight line

Valuation information and policy
Current asset investments are at the lower of cost and net realisable value.

Other accounting policies
Pensions
The pension costs charged in the financial statements represent the contribution payable by the company during the year

2Tangible fixed assets

	£
Cost
At 1 January 2013	5,239
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 December 2013	5,239
Depreciation
At 1 January 2013	4,711
Charge for the year	192
On disposals	-
At 31 December 2013	4,903
Net book values
At 31 December 2013	336
At 31 December 2012	528

3Called Up Share Capital
Allotted, called up and fully paid:

	2013 £	2012 £
60,000 Ordinary shares of £1 each	60,000	60,000

4Transactions with directors

Name of director receiving advance or credit:	STEPHEN BLANK
Description of the transaction:	LOAN ACCOUNT
Balance at 1 January 2013:	£ 223,440
Advances or credits made:	£ 73,614
Advances or credits repaid:	£ 8,425
Balance at 31 December 2013:	£ 288,629

At the beginning of the year an amount of £223,440 was owed by the director to the company. During the year a number of advances were made to S M Blank totalling £63,460 including £5,000 on 1 July 2013, £5,000 on 30 August 2013 and £5,000 on 30 September 2013. Total repayments during the year amounted to £8,425 leaving a balance of £278,474 owed by S M Blank at the year end, prior to the interest charge. Interest of 4% per annum was charged and all advances were unsecured.