Accounts filed on 30-11-2016

Accounts filed on 30-11-2016

MIDLAND PROPERTIES (BRISTOL) LIMITED - Company Information

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045828092015-12-012016-11-30falsetruehttp://www.companieshouse.gov.uk/2015-11-30http://www.companieshouse.gov.uk/pt:PlantMachinery2015-11-30http://www.companieshouse.gov.uk/cd:Director12015-12-012016-11-30http://www.companieshouse.gov.uk/pt:PlantMachinery2016-11-30http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12015-12-012016-11-30http://www.companieshouse.gov.uk/pt:MotorCars2015-11-30http://www.companieshouse.gov.uk/pt:PlantMachinery2015-12-012016-11-30http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12016-11-30http://www.companieshouse.gov.uk/pt:MotorCars2016-11-30http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12015-11-30http://www.companieshouse.gov.uk/pt:MotorCars2015-12-012016-11-30http://www.companieshouse.gov.uk/2014-12-012015-11-30http://www.companieshouse.gov.uk/2015-12-012016-11-30http://www.companieshouse.gov.uk/2015-11-30http://www.companieshouse.gov.uk/2016-11-30http://www.companieshouse.gov.uk/cd:EntityAccountantsOrAuditors2015-12-012016-11-30iso4217:GBPxbrli:sharesxbrli:pure
Registered number: 04582809
Midland Properties (Bristol) Limited
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30/11/2016
Prepared By:
R F Love and Company
Chartered Accountant
Unit 78, Basepoint
Yeoford Way, Marsh Barton
Exeter
Devon
EX2 8LB
Midland Properties (Bristol) Limited
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30/11/2016
INDEX TO THE ACCOUNTS
Abbreviated Balance Sheet2
Notes to the Abbreviated Accounts3
The company's registered number is 04582809
Midland Properties (Bristol) Limited
Registered Number: 04582809
BALANCE SHEET AT 30/11/2016
20162015
Notes££
FIXED ASSETS
Tangible assets218,43524,581
CURRENT ASSETS
Stock1,127,384848,043
Debtors (amounts falling due within one year)31,139,950587,416
Cash at bank and in hand49,03113,156
2,316,3651,448,615
CREDITORS: Amounts falling due within one year787,489273,627
NET CURRENT ASSETS1,528,8761,174,988
TOTAL ASSETS LESS CURRENT LIABILITIES1,547,3111,199,569
CREDITORS: Amounts falling due after more than one year41,461,6431,131,241
NET ASSETS85,66868,328
CAPITAL AND RESERVES
Called up share capital533
Profit and loss account85,66568,325
SHAREHOLDERS' FUNDS85,66868,328
For the year ending 30/11/2016 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 28/08/2015 and signed on their behalf by
P O'Brien
Director
Midland Properties (Bristol) Limited
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30/11/2016
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1b. Cash Flow Statement
The Company is exempt from including a statement of cash flows in its accounts in accordance with Financial Reporting Standard for Smaller Entities (effective January 2015).
1c. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and Machineryreducing balance 25%
Motor Carsreducing balance 25%
1d. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.
1e. Taxation
Corporation tax payable is provided on taxable profits at the current rates.
Provision is made for deferred taxation in so far as a liability or asset has arisen as a result of transactions that had occurred by the balance sheet date and have given rise to an obligation to pay more tax in the future, or the right to pay less tax in the future. An asset has not been recognised to the extent that the transfer of economic benefits in the future is uncertain. Deferred tax assets and liabilities recognised have not been discounted.
1f. Turnover
Turnover represents the invoiced value of goods and services supplied by the company, net of value added tax and trade discounts.
Midland Properties (Bristol) Limited
2. TANGIBLE FIXED ASSETS
Plant and
MachineryMotor CarsTotal
£££
Cost
At 01/12/201532,00435,78567,789
At 30/11/201632,00435,78567,789
Depreciation
At 01/12/201530,30512,90343,208
For the year4255,7216,146
At 30/11/201630,73018,62449,354
Net Book Amounts
At 30/11/20161,27417,16118,435
At 30/11/20151,69922,88224,581
3. DEBTORS 20162015
££
Amounts falling due within one year:
Trade debtors225,000225,000
Other debtors914,950362,416
1,139,950587,416
4. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
20162015
££
Bank loans and overdrafts1,461,6431,131,241
1,461,6431,131,241
Included in other creditors are:
Midland Properties (Bristol) Limited
5. SHARE CAPITAL 20162015
££
Allotted, issued and fully paid:
3 Ordinary shares of £1 each33
33