Company Registration No. 03348139 (England and Wales)
MADGWICK & SONS LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 APRIL 2016
MADGWICK & SONS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2
MADGWICK & SONS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 APRIL 2016
30 April 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
6,857
13,200
Current assets
Stocks
600
4,200
Debtors
3,875
2,659
4,475
6,859
Creditors: amounts falling due within one year
(12,892)
(20,274)
Net current liabilities
(8,417)
(13,415)
Total assets less current liabilities
(1,560)
(215)
Creditors: amounts falling due after more than one year
(2,674)
(6,899)
(4,234)
(7,114)
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
(4,334)
(7,214)
Shareholders' funds
(4,234)
(7,114)
For the financial year ended 30 April 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 23 January 2017
M Madgwick
Director
Company Registration No. 03348139
MADGWICK & SONS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 APRIL 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
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:
Fixtures, fittings and equipment
15% reducing balance basis
Motor vehicles
25% reducing balance basis
2
Fixed assets
Tangible assets
£
Cost
At 1 May 2015
49,351
Disposals
(9,995)
At 30 April 2016
39,356
Depreciation
At 1 May 2015
36,151
On disposals
(5,778)
Charge for the year
2,126
At 30 April 2016
32,499
Net book value
At 30 April 2016
6,857
At 30 April 2015
13,200
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 ordinary of £1 each
100
100