Myti Mussels Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 02140617 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2016

FOR

MYTI MUSSELS LIMITED

Page

Company information

1

Abbreviated balance sheet

2

Notes to the abbreviated accounts

4

Chartered certified accountants' report

6

DIRECTORS:

K Mould

V A Mould

SECRETARY:

V A Mould

REGISTERED OFFICE:

Port Penrhyn

Bangor

Gwynedd

LL57 4HN

REGISTERED NUMBER:

02140617 (England and Wales)

ACCOUNTANTS:

Fraser Wood Limited

Chartered Certified Accountants

Victoria House

Plas Llwyd Terrace

Bangor

Gwynedd

LL57 1UB

FIXED ASSETS

Intangible assets

2

-

Tangible assets

3

2,642,892

3,003,293

2,642,892

3,003,293

CURRENT ASSETS

Debtors

3,105,846

627,743

Cash at bank and in hand

79,561

1,744,532

3,185,407

2,372,275

CREDITORS

Amounts falling due within one year

(314,662

)

(287,100

)

NET CURRENT ASSETS

2,870,745

2,085,175

TOTAL ASSETS LESS CURRENT
LIABILITIES

5,513,637

5,088,468

PROVISIONS FOR LIABILITIES

(116,977

)

(161,334

)

NET ASSETS

5,396,660

4,927,134

CAPITAL AND RESERVES

Called up share capital

4

100

Profit and loss account

5,396,560

4,927,034

SHAREHOLDERS' FUNDS

5,396,660

4,927,134

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 22 February 2017 and were signed on its
behalf by:

K Mould - 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).

Turnover

Turnover represents amounts receivable for the sale of mussels.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

over the primary lease term

Plant and machinery etc

-

25% on reducing balance, 15% on reducing balance and 10% on cost

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2015

and 31 August 2016

195,000

AMORTISATION

At 1 September 2015

and 31 August 2016

195,000

NET BOOK VALUE

At 31 August 2016

-

At 31 August 2015

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2015

6,514,845

Additions

757

At 31 August 2016

6,515,602

DEPRECIATION

At 1 September 2015

3,511,552

Charge for year

361,158

At 31 August 2016

3,872,710

NET BOOK VALUE

At 31 August 2016

2,642,892

At 31 August 2015

3,003,293

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.16

31.8.15

value:

£

100

Ordinary

£1

100

5.	TRANSACTIONS WITH DIRECTORS

The directors loans £2,225 (2015 - £69,764), included in creditors falling due within one year, are non

interest bearing and have no fixed dates for repayment.

The following reproduces the text of the report prepared for the directors in respect of the company's

annual unaudited financial statements, from which the unaudited abbreviated accounts (set out on

pages two to five) have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006 we have prepared for your approval

the accounts of Myti Mussels Limited for the year ended 31 August 2016 from the Company's accounting

records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical

and other professional requirements which are detailed at http://rulebook.accaglobal.com.

Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified

Accountants as detailed at http://www.accaglobal.com/factsheet163.

Fraser Wood Limited

Chartered Certified Accountants

Victoria House

Plas Llwyd Terrace

Bangor

Gwynedd

LL57 1UB

22 February 2017