MJG JOINERY LIMITED

Company Registration Number:
06897717 (England and Wales)

Abbreviated (Unaudited) Accounts

Period of accounts

Start date: 01 June 2015

End date: 31 May 2016

MJG JOINERY LIMITED

Abbreviated Balance sheet

As at 31 May 2016


Notes
2016
£
2015
£
Fixed assets
Tangible assets: 2 10,497 12,645
Total fixed assets: 10,497 12,645
Current assets
Debtors: 3 7,897 4,007
Cash at bank and in hand: 1,240 1,615
Total current assets: 9,137 5,622
Creditors: amounts falling due within one year: 4 ( 6,738 ) ( 10,207 )
Net current assets (liabilities): 2,399 ( 4,585 )
Total assets less current liabilities: 12,896 8,060
Creditors: amounts falling due after more than one year: 5 ( 5,658 ) ( 9,574 )
Provision for liabilities: ( 1,996 )
Total net assets (liabilities): 5,242 ( 1,514 )

The notes form part of these financial statements

MJG JOINERY LIMITED

Balance sheet continued

As at 31 May 2016


Notes
2016
£
2015
£
Capital and reserves
Called up share capital: 6 1 1
Profit and loss account: 5,241 ( 1,515 )
Shareholders funds: 5,242 ( 1,514 )

For the year ending 31 May 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 and in accordance with the Financial Reporting Standard for Smaller Entities 2015.

The financial statements were approved by the Board of Directors on 15 February 2017

SIGNED ON BEHALF OF THE BOARD BY:

Name: M J Greenhalgh
Status: Director

The notes form part of these financial statements

MJG JOINERY LIMITED

Notes to the Abbreviated Accounts

for the Period Ended 31 May 2016

  • 1. Accounting policies

    Basis of measurement and preparation of accounts

    The financial statements are prepared under the historical cost convention and incorporate the results of the principal activity which is described in the director's report and which is continuing.

    Turnover policy

    Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are stated at cost less depreciation

    Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

    Plant and Machinery - 15% per annum of net book value
    Fixtures and Fittings - 15 % per annum of net book value
    Motor Vehicles - 25% per annum of net book value

    Other accounting policies

    Cashflow statement
    The Company has taken advantage of the exemption in Financial Reporting Standard No.1 from the requirement to produce a cashflow statement on the grounds that it is a small company.
    Debtors
    The Director has decided that no provision is required for bad or doubtful debts.

    Deferred taxation
    Provision is made for taxation deferred as a result of material timing differences between the incidence of income and expenditure for taxation purposes, using the liability method, only to the extent that, in the opinion of the directors, there is a reasonable probability that a liability or asset will crystallise in the near future.

    Leasing
    Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets and depreciated over the shorter of the lease term and their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

MJG JOINERY LIMITED

Notes to the Abbreviated Accounts

for the Period Ended 31 May 2016

  • 2. Tangible assets

    Total
    Cost £
    01 June 2015: 20,253
    Additions: 792
    Disposals: 0
    Revaluations: 0
    Transfers: 0
    31 May 2016: 21,045
    Depreciation
    01 June 2015: 7,608
    Charge for year: 2,940
    On disposals: 0
    Other adjustments: 0
    31 May 2016: 10,548
    Net book value
    31 May 2016: 10,497
    31 May 2015: 12,645

MJG JOINERY LIMITED

Notes to the Abbreviated Accounts

for the Period Ended 31 May 2016

  • 3. Debtors


    2016
    £
    2015
    £
    Other debtors: 7,897 4,007
    Total: 7,897 4,007

MJG JOINERY LIMITED

Notes to the Abbreviated Accounts

for the Period Ended 31 May 2016

  • 4. Creditors: amounts falling due within one year


    2016
    £
    2015
    £
    Bank loans and overdrafts: 571 4,302
    Amounts due under finance leases and hire purchase contracts: 2,716 2,716
    Taxation and social security: 2,790 2,198
    Accruals and deferred income: 625 625
    Other creditors: 36 366
    Total: 6,738 10,207

MJG JOINERY LIMITED

Notes to the Abbreviated Accounts

for the Period Ended 31 May 2016

  • 5. Creditors: amounts falling due after more than one year


    2016
    £
    2015
    £
    Bank loans and overdrafts: 1,200
    Amounts due under finance leases and hire purchase contracts: 5,658 8,374
    Total: 5,658 9,574

MJG JOINERY LIMITED

Notes to the Abbreviated Accounts

for the Period Ended 31 May 2016

  • 6. Called up share capital

    Allotted, called up and paid

    Previous period
    2015
    Class Number of shares Nominal value per share (£) Total (£)
    Ordinary shares: 1 1.00 1
    Preference shares: 0
    Total share capital (£): 1
    Current period
    2016
    Class Number of shares Nominal value per share (£) Total (£)
    Ordinary shares: 1 1.00 1
    Preference shares: 0
    Total share capital (£): 1