Machina Espresso Ltd - Period Ending 2016-07-31

Machina Espresso Ltd - Period Ending 2016-07-31


Machina Espresso LtdSC442979falsetrue2015-08-012016-07-312016-07-31SC4429792015-08-012016-07-31SC4429792016-07-31SC442979uk-bus:CompanySecretaryDirector2016-07-31SC442979uk-bus:CompanySecretaryDirector2015-08-012016-07-31SC442979uk-gaap:FixturesFittings2015-08-012016-07-31SC442979uk-gaap:OfficeEquipment2015-08-012016-07-31SC442979uk-gaap:PlantMachinery2015-08-012016-07-31SC4429792015-07-31SC4429792015-07-31SC442979uk-bus:CompanySecretaryDirector2015-07-31SC442979uk-bus:CompanySecretaryDirector2014-08-012015-07-31iso4217:GBP

Registration number: SC442979

Machina Espresso Ltd

Unaudited Abbreviated Accounts
 

for the Year Ended 31 July 2016

 

Machina Espresso Ltd

Contents

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

2 to 4

 

Machina Espresso Ltd

(Registration number: SC442979)
Abbreviated Balance Sheet as at 31 July 2016

Note

2016
 £

2015
 £

Fixed assets

 

Tangible assets

28,203

10,625

Current assets

 

Stocks

34,011

32,420

Debtors

38,992

9,105

Cash at bank and in hand

 

20,508

19,391

 

93,511

60,916

Creditors: Amounts falling due within one year

(96,008)

(70,026)

Net current liabilities

 

(2,497)

(9,110)

Total assets less current liabilities

 

25,706

1,515

Creditors: Amounts falling due after more than one year

(16,666)

-

Provisions for liabilities

(5,641)

-

Net assets

 

3,399

1,515

Capital and reserves

 

Called up share capital

3

10

10

Profit and loss account

3,389

1,505

Shareholders' funds

3,399

1,515

For the year ending 31 July 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the director on 30 April 2017

.........................................
SP Glencross
Company secretary and director

 

Machina Espresso Ltd

Notes to the Abbreviated Accounts

1

Accounting policies

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Revenue recognition

Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.

Depreciation

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

Asset class

Depreciation method and rate

Plant and Machinery

20% straight line

Fixture and Fittings

20% straight line

Office Equipment

20% straight line

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE.

Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

 

Machina Espresso Ltd

Notes to the Abbreviated Accounts

2

Fixed assets

Tangible assets
£

Cost

At 1 August 2015

15,919

Additions

45,357

Disposals

(22,555)

At 31 July 2016

38,721

Depreciation

At 1 August 2015

5,294

Charge for the year

5,224

At 31 July 2016

10,518

Net book value

At 31 July 2016

28,203

At 31 July 2015

10,625

3

Share capital

Allotted, called up and fully paid shares

 

2016

2015

 

No.

£

No.

£

Ordinary shares of £1 each

10

10

10

10

         

4

Related party transactions

Transactions with directors

2016

At 1 August 2015
£

Advances to directors
£

Repayments by director
£

Other payments made to company by director
£

At 31 July 2016
£

SP Glencross

Director's loan

43,311

(1,599)

-

-

41,712

           
         

 
 

Machina Espresso Ltd

Notes to the Abbreviated Accounts

2015

At 1 August 2014
£

Advances to directors
£

Repayments by director
£

Other payments made to company by director
£

At 31 July 2015
£

SP Glencross

Director's loan

21,750

-

-

21,561

43,311

           
         

Dividends paid to directors

 

2016
£

2015
£

SP Glencross

   

Dividends

-

21,600

     
         

 

5

Control

The director is the controlling party by virtue of his controlling shareholding in the company.