Accounts filed on 31-05-2016
Accounts filed on 31-05-2016
MJG JOINERY LIMITED
Company Registration Number:
06897717
(England and Wales)
Abbreviated (Unaudited) Accounts
Period of accounts
Start date: 01 June 2015
End date: 31 May 2016
MJG JOINERY LIMITED
Abbreviated Balance sheet
As at
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2016 £ |
2015 £ |
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Fixed assets | |||
Tangible assets: | 2 |
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Total fixed assets: |
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Current assets | |||
Debtors: | 3 |
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Cash at bank and in hand: |
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Total current assets: |
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Creditors: amounts falling due within one year: | 4 |
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Net current assets (liabilities): |
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Total assets less current liabilities: |
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Creditors: amounts falling due after more than one year: | 5 |
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Provision for liabilities: |
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Total net assets (liabilities): |
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The notes form part of these financial statements
MJG JOINERY LIMITED
Balance sheet continued
As at 31 May 2016
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2016 £ |
2015 £ |
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Capital and reserves | |||
Called up share capital: | 6 |
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Profit and loss account: |
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Shareholders funds: |
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The financial statements were approved by the Board of Directors on
SIGNED ON BEHALF OF THE BOARD BY:
Name:
Status: Director
The notes form part of these financial statements
MJG JOINERY LIMITED
Notes to the Abbreviated Accounts
for the Period Ended 31 May 2016
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1. Accounting policies
Basis of measurement and preparation of accounts
The financial statements are prepared under the historical cost convention and incorporate the results of the principal activity which is described in the director's report and which is continuing. Turnover policy
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. Tangible fixed assets depreciation policy
Tangible fixed assets are stated at cost less depreciation
Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant and Machinery - 15% per annum of net book value
Fixtures and Fittings - 15 % per annum of net book value
Motor Vehicles - 25% per annum of net book valueOther accounting policies
Cashflow statement
The Company has taken advantage of the exemption in Financial Reporting Standard No.1 from the requirement to produce a cashflow statement on the grounds that it is a small company.
Debtors
The Director has decided that no provision is required for bad or doubtful debts.
Deferred taxation
Provision is made for taxation deferred as a result of material timing differences between the incidence of income and expenditure for taxation purposes, using the liability method, only to the extent that, in the opinion of the directors, there is a reasonable probability that a liability or asset will crystallise in the near future.
Leasing
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets and depreciated over the shorter of the lease term and their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
MJG JOINERY LIMITED
Notes to the Abbreviated Accounts
for the Period Ended 31 May 2016
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2. Tangible assets
Total Cost £ 01 June 2015: 20,253 Additions: 792 Disposals: 0 Revaluations: 0 Transfers: 0 31 May 2016: 21,045 Depreciation 01 June 2015: 7,608 Charge for year: 2,940 On disposals: 0 Other adjustments: 0 31 May 2016: 10,548 Net book value 31 May 2016: 10,497 31 May 2015: 12,645
MJG JOINERY LIMITED
Notes to the Abbreviated Accounts
for the Period Ended 31 May 2016
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3. Debtors
2016
£
2015
£Other debtors: 7,897 4,007 Total: 7,897 4,007
MJG JOINERY LIMITED
Notes to the Abbreviated Accounts
for the Period Ended 31 May 2016
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4. Creditors: amounts falling due within one year
2016
£
2015
£Bank loans and overdrafts: 571 4,302 Amounts due under finance leases and hire purchase contracts: 2,716 2,716 Taxation and social security: 2,790 2,198 Accruals and deferred income: 625 625 Other creditors: 36 366 Total: 6,738 10,207
MJG JOINERY LIMITED
Notes to the Abbreviated Accounts
for the Period Ended 31 May 2016
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5. Creditors: amounts falling due after more than one year
2016
£
2015
£Bank loans and overdrafts: 1,200 Amounts due under finance leases and hire purchase contracts: 5,658 8,374 Total: 5,658 9,574