MFA Building Services Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 07446373

MFA BUILDING SERVICES LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30 APRIL 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mr M Allsopp

Mrs S M Allsopp

REGISTERED OFFICE:

7 St John Street

Mansfield

Nottinghamshire

NG18 1QH

REGISTERED NUMBER:

07446373

ACCOUNTANTS:

ApC

Chartered Accountants

7 St John Street

Mansfield

Nottinghamshire

NG18 1QH

BANKERS:

HSBC

Church Street

Southwell

Nottinghamshire

NG25 0HL

FIXED ASSETS

Tangible assets

2

9,459

12,083

CURRENT ASSETS

Stocks

950

Debtors

1,357

10,941

Cash at bank

12,029

29

14,336

11,920

CREDITORS

Amounts falling due within one year

23,075

23,913

NET CURRENT LIABILITIES

(8,739

)

(11,993

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

720

90

CREDITORS

Amounts falling due after more than one
year

3,573

7,648

NET LIABILITIES

(2,853

)

(7,558

)

CAPITAL AND RESERVES

Called up share capital

3

100

Profit and loss account

(2,953

)

(7,658

)

SHAREHOLDERS' FUNDS

(2,853

)

(7,558

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Board of Directors on 19 December 2016 and were signed on its behalf
by:

Mr M Allsopp - Director

Mrs S M Allsopp - Director

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 January 2015).

At the balance sheet date, the company had net liabilities of £2,853. The company is reliant on the continued

support of its directors. The directors have confirmed their intention to support the company.

On the above basis the directors consider that the financial statements be prepared on a going concern basis

Turnover

Turnover represents the value excluding Value Added Tax of building services provided to customers during the

year. All income is taken to profit and loss at the same point as the right to receive consideration has been

acquired.

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

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

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.

Financial instruments

Financial instruments and equity instruments are classified according to the substance of the contractual

arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets

of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar

debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented

as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the

profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the

outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability

then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are

debited direct to equity.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2015

and 30 April 2016

19,530

DEPRECIATION

At 1 May 2015

7,447

Charge for year

2,624

At 30 April 2016

10,071

NET BOOK VALUE

At 30 April 2016

9,459

At 30 April 2015

12,083

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

100

Ordinary

£1

100

4.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2016 and

30 April 2015:

2016

2015

£

Mr M Allsopp

Balance outstanding at start of year

(721

)

(4,928

)

Amounts advanced

16,565

20,217

Amounts repaid

(15,258

)

(16,010

)

Balance outstanding at end of year

586

(721

)