Abbreviated Company Accounts - MAJOR TEA CO.LIMITED

MAJOR TEA CO.LIMITED - Company Information

00769624 MAJOR TEA CO.LIMITED 2016-08-17 false 2015-08-18 2016-08-17 true 00769624 2015-08-18 2016-08-17 00769624 2016-08-17 00769624 2015-08-17 00769624 uk-gaap-cd-bus:Director1 2015-08-18 2016-08-17 00769624 uk-gaap-cd-bus:Director2 2015-08-18 2016-08-17 uk-gaap-cd-bus:OrdinaryShareClass1 2015-08-18 2016-08-17 uk-gaap-cd-bus:OrdinaryShareClass1 2016-08-17 uk-gaap-cd-bus:OrdinaryShareClass1 2015-08-17 iso4217:GBP shares

Registered Number 00769624

MAJOR TEA CO.LIMITED

Abbreviated Accounts

17 August 2016

MAJOR TEA CO.LIMITED Registered Number 00769624

Abbreviated Balance Sheet as at 17 August 2016

	Notes	2016	2015
		£	£
Fixed assets
Tangible assets	2	7,048	8,596
		7,048	8,596
Current assets
Stocks		86,774	73,931
Debtors		96,168	99,615
Cash at bank and in hand		79,289	77,767
		262,231	251,313
Creditors: amounts falling due within one year		(100,776)	(102,920)
Net current assets (liabilities)		161,455	148,393
Total assets less current liabilities		168,503	156,989
Total net assets (liabilities)		168,503	156,989
Capital and reserves
Called up share capital	3	100	100
Profit and loss account		168,403	156,889
Shareholders' funds		168,503	156,989

For the year ending 17 August 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 Board on 12 May 2017

And signed on their behalf by:
M. D. Mead, Director

MAJOR TEA CO.LIMITED Registered Number 00769624

Notes to the Abbreviated Accounts for the period ended 17 August 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

Tangible assets depreciation policy
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:

Plant and machinery 15% written down value
Fixtures, Fittings & Equipment 15% written down value
Motor Vehicles 25% written down value

Other accounting policies
Stock
Stock is valued at the lower of cost and net realisable value.

Pensions
The pension costs charged in the financial statements represent the contributions payable by the company during the year in accordance with FRS 17.

Foreign Currency Translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

2Tangible fixed assets

	£
Cost
At 18 August 2015	121,279
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 17 August 2016	121,279
Depreciation
At 18 August 2015	112,683
Charge for the year	1,548
On disposals	-
At 17 August 2016	114,231
Net book values
At 17 August 2016	7,048
At 17 August 2015	8,596

3Called Up Share Capital
Allotted, called up and fully paid:

	2016 £	2015 £
100 Ordinary shares of £1 each	100	100