MBM_CONSULTANCY_LTD - Accounts


Company Registration No. 06417469 (England and Wales)
MBM CONSULTANCY LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2016
MBM CONSULTANCY LTD
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
MBM CONSULTANCY LTD
ABBREVIATED BALANCE SHEET
AS AT
30 NOVEMBER 2016
30 November 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
1,587
1,867
Current assets
Debtors
13,440
18,229
Cash at bank and in hand
10,500
3,645
23,940
21,874
Creditors: amounts falling due within one year
(17,219)
(15,021)
Net current assets
6,721
6,853
Total assets less current liabilities
8,308
8,720
Provisions for liabilities
(317)
(373)
7,991
8,347
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
7,891
8,247
Shareholders'  funds
7,991
8,347
For the financial year ended 30 November 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 19 April 2017
Mr M Maisuria
Director
Company Registration No. 06417469
MBM CONSULTANCY LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 NOVEMBER 2016
- 2 -
1
Accounting policies
1.1
Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for services provided net of VAT.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Fixtures, fittings & equipment
15% reducing balance basis.
1.5
Revenue recognition
Fee income represents revenue earned under a wide variety of contracts to provide professional services. Revenue is recognised as earned when, and to the extent that, the firm obtains the right to consideration in exchange for its performance under these contracts. It is measured at the fair value of the right to consideration, which represents amounts chargeable to clients, including expenses and disbursements but excluding value added tax.

Revenue is generally recognised as contract activity progresses so that for incomplete contracts it reflects the partial performance of the contractual obligations. For such contracts the amount of revenue reflects the accrual of the right to consideration by reference to the value of work performed. Revenue not billed to clients is included in debtors and payments on account in excess of the relevant amount of revenue are included in creditors.

Fee income that is contingent on events outside the control of the firm is recognised when the contingent event occurs.
1.6
Pensions
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
1.7
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes.  The deferred tax balance has not been discounted.
MBM CONSULTANCY LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2016
- 3 -
2
Fixed assets
Tangible assets
£
Cost
At 1 December 2015 & at 30 November 2016
3,698
Depreciation
At 1 December 2015
1,831
Charge for the year
280
At 30 November 2016
2,111
Net book value
At 30 November 2016
1,587
At 30 November 2015
1,867
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100Ordinary shares of £1 each
100
100
4
Related party relationships and transactions
Loans to directors
Transactions in relation to loans with directors during the year are outlined in the table below:
Description
% Rate
Opening Balance
Amounts Advanced
Interest Charged
Amounts Repaid
Closing Balance
£
£
£
£
£
Mr M Maisuria - Directors loan account
3.00
9,890
62,625
202
73,412
(695)
9,890
62,625
202
73,412
(695)
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