MRK FOOD SUPPLIES LTD

MRK FOOD SUPPLIES LTD

EASTCOAST SUPPLIES LTD. - Company Information

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MRK FOOD SUPPLIES LTD

Company Registration Number:
08929617 (England and Wales)

Unaudited abridged accounts for the year ended 31 March 2017

Period of accounts

Start date: 01 April 2016

End date: 31 March 2017

MRK FOOD SUPPLIES LTD

Contents of the Financial Statements

for the Period Ended 31 March 2017

Balance sheet
Notes

MRK FOOD SUPPLIES LTD

Balance sheet

As at 31 March 2017


Notes
2017
2016


£
£
Fixed assets
Intangible assets: 3 178,081 142,815
Tangible assets: 4 590,550 568,801
Investments:   0 0
Total fixed assets: 768,631 711,616
Current assets
Stocks: 892,501 661,112
Debtors: 5 1,094,208 841,699
Cash at bank and in hand: 257,749 198,414
Investments:   0 0
Total current assets: 2,244,458 1,701,225
Creditors: amounts falling due within one year: 6 (262,112) (201,625)
Net current assets (liabilities): 1,982,346 1,499,600
Total assets less current liabilities: 2,750,977 2,211,216
Creditors: amounts falling due after more than one year:   0 0
Provision for liabilities: (16,831) (33,659)
Total net assets (liabilities): 2,734,146 2,177,557
Capital and reserves
Called up share capital: 900,000 900,000
Share premium account: 100,000
Other reserves: 400,690 400,690
Profit and loss account: 1,333,456 876,867
Shareholders funds: 2,734,146 2,177,557

The notes form part of these financial statements

MRK FOOD SUPPLIES LTD

Balance sheet statements

For the year ending 31 March 2017 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

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

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 10 December 2017
and signed on behalf of the board by:

Name: Muhammad Rafiq Khan
Status: Director

The notes form part of these financial statements

MRK FOOD SUPPLIES LTD

Notes to the Financial Statements

for the Period Ended 31 March 2017

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

'The turnover represents amounts receivable for goods and services net of VAT and trade discounts'.

Tangible fixed assets and depreciation policy

'Annual depreciation of computer equipment is calculated at 25% of cost to write off the cost of the asset, less its residual value, over its estimated useful economic lifetime'.

Intangible fixed assets and amortisation policy

'Annual amortisation of goodwill is calculated at 25% to write off the cost of the asset, minus its residual value, over its estimated useful lifetime'.

Valuation and information policy

'Stocks and work in progress are valued at the lower of cost and net realisable value, after making allowances for obsolete and slow-moving items. Cost includes all direct expenditure and overheads'.

MRK FOOD SUPPLIES LTD

Notes to the Financial Statements

for the Period Ended 31 March 2017

2. Employees

2017 2016
Average number of employees during the period 26 19

MRK FOOD SUPPLIES LTD

Notes to the Financial Statements

for the Period Ended 31 March 2017

3. Intangible Assets

Total
Cost £
At 01 April 2016 142,815
Additions 110,214
Disposals 0
Revaluations 0
Transfers 0
At 31 March 2017 253,029
Amortisation
At 01 April 2016 0
Charge for year 74,948
At 31 March 2017 74,948
Net book value
At 31 March 2017 178,081
At 31 March 2016 142,815

MRK FOOD SUPPLIES LTD

Notes to the Financial Statements

for the Period Ended 31 March 2017

4. Tangible Assets

Total
Cost £
At 01 April 2016 568,801
Additions 274,842
At 31 March 2017 843,643
Depreciation
At 01 April 2016 0
Charge for year 253,093
At 31 March 2017 253,093
Net book value
At 31 March 2017 590,550
At 31 March 2016 568,801

MRK FOOD SUPPLIES LTD

Notes to the Financial Statements

for the Period Ended 31 March 2017

5. Debtors

2017 2016
££
Debtors due after more than one year: 134,687 32,500

Amounts due from Franchised Customer on a Deferred payment basis.

MRK FOOD SUPPLIES LTD

Notes to the Financial Statements

for the Period Ended 31 March 2017

6. Creditors: amounts falling due within one year note

Creditors are measured at transaction price(usually the invoice price) Loans and other financial liabilities are initailly recognised at transaction price net of any transaction at amortised cost determined using the effective interest method.costs and subsequently measured

MRK FOOD SUPPLIES LTD

Notes to the Financial Statements

for the Period Ended 31 March 2017

7. Financial commitments

The company has commited an annual amount of £50K, to be spent on advertisements of the companys products and services over the next 3 years.

MRK FOOD SUPPLIES LTD

Notes to the Financial Statements

for the Period Ended 31 March 2017

8. Loans to directors

Name of director receiving advance or credit: Muhammad Rafiq Khan
Description of the loan: An interest free loan amounting to a total of £90000.00 , was made to the director in May 2017, repayable in full by the end of March 2018.
£
Balance at 01 April 2016 0
Advances or credits made: 90,000
Advances or credits repaid: 0
Balance at 31 March 2017 90,000