MAISY CLOTHING LTD - Abbreviated accounts 16.3

REGISTERED NUMBER: 08057125 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 May 2016

for

MAISY CLOTHING LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

Miss R Agha Kasiri

REGISTERED OFFICE:

36 Mill Street

Macclesfield

Cheshire

SK11 6LT

REGISTERED NUMBER:

08057125 (England and Wales)

ACCOUNTANTS:

Lucas Reis Limited

Landmark House

Station Rd

Cheadle Hulme

Cheshire

SK8 7BS

FIXED ASSETS

Tangible assets

2

4,450

5,480

CURRENT ASSETS

Stocks

18,735

16,345

Debtors

3

9,603

15,849

Cash at bank and in hand

58,389

34,734

86,727

66,928

CREDITORS

Amounts falling due within one year

40,759

38,384

NET CURRENT ASSETS

45,968

28,544

TOTAL ASSETS LESS CURRENT
LIABILITIES

50,418

34,024

PROVISIONS FOR LIABILITIES

414

552

NET ASSETS

50,004

33,472

CAPITAL AND RESERVES

Called up share capital

4

100

Profit and loss account

49,904

33,372

SHAREHOLDERS' FUNDS

50,004

33,472

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 director on 27 February 2017 and were signed by:

Miss R Agha Kasiri - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention.

Financial reporting standard number 1

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a

small company.

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

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

-

10% on cost

Plant and machinery etc

-

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

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2015

and 31 May 2016

7,896

DEPRECIATION

At 1 June 2015

2,416

Charge for year

1,030

At 31 May 2016

3,446

NET BOOK VALUE

At 31 May 2016

4,450

At 31 May 2015

5,480

3.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

The aggregate total of debtors falling due after more than one year is £ 7,500 (31.5.15 - £ 7,500 )

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.16

31.5.15

value:

£

100

Ordinary

1

100