Mambo's Distributions Limited
|
For the year ended 31 December 2015
Unaudited Abbreviated Report and Financial Statements
England and Wales
Registered Number: 04859438
Mambo's Distributions Limited
For the year ended 31 December 2015
1
Accountants' Report
2
Balance Sheet
3 to 4
Notes to the Abbreviated Financial Statements
Mambo's Distributions Limited
Chartered Accountants' Report
For the year ended 31 December 2015
Chartered Accountants' Report to the Board of Directors
In order to assist you to fulfil your duties under Companies Act
2006
,
we have prepared for your approval the
|
accounts of Mambos Distributions Limited for the year ended
31
December
2015
which comprise the Profit and
|
Loss Account
,
the Balance Sheet and the related notes from the company
'
s accounting records and from
|
information and explanations you have given us
.
|
As a practising firm of the Institute of Chartered Accountants in England and Wales
(
ICAEW
)
,
we are subject to its
|
ethical and other professional requirements which are detailed at icaew
.
com
/
membershandbook
.
|
This report is made solely to the Board of Directors of Mambos Distributions Limited
,
as a body
,
in accordance with
|
the terms of our engagement letter dated
28
September
2015
.
Our work has been undertaken solely to prepare for
|
your approval the accounts of Mambos Distributions Limited and state those matters that we have agreed to state
|
to the Board of Directors of Mambos Distributions Limited
,
as a body
,
in this report in accordance with AAF
2
/
10
as
|
detailed at icaew
.
com
/
compilation
.
To the fullest extent permitted by law
,
we do not accept or assume responsibility
|
to anyone other than Mambos Distributions Limited and its Board of Directors as a body for our work or for this
|
report
.
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It is your duty to ensure that Mambos Distributions Limited has kept adequate accounting records to prepare
|
statutory accounts that give a true and fair view of the assets
,
liabilities
,
financial position and loss of Mambos
|
Distributions Limited
.
You consider that Mambos Distributions Limited is exempt from the statutory audit
|
requirement for the year
.
|
We have not been instructed to carry out an audit or a review of the accounts of Mambos Distributions Limited
.
For
|
this reason
,
we have not verified the accuracy or completeness of the accounting records or information and
|
explanations you have given to us and we do not
,
therefore
,
express any opinion on the statutory accounts
.
|
Brownlows Accountants
Bank Chambers
Belgrave Square
Darwen
Lancashire
BB3 1BU
28 September 2016
1 of 4
Abbreviated Balance Sheet
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Mambo's Distributions Limited
2015
2014
2
90,841
95,449
90,841
95,449
21,000
21,000
8,284
5,939
1,887
991
28,826
30,275
Creditors
:
amounts falling due within one year
|
3
(33,742)
(44,382)
(3,467)
(15,556)
Net current liabilities
Total assets less current liabilities
|
75,285
91,982
Creditors
:
amounts falling due after more than one year
|
4
(184,561)
(176,218)
(100,933)
Net liabilities
(92,579)
1
5
1
(100,934)
(92,580)
(100,933)
(92,579)
Shareholders funds
For the year ended 31 December 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
|
Director responsibilities: 1) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;
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2) The director acknowledges his 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.
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Date approved by the board: 28 September 2016
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Signed on behalf of the board of directors
|
2 of 4
Notes to the Abbreviated Financial Statements
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Mambo's Distributions Limited
For the year ended 31 December 2015
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
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The financial statements have been prepared on a going concern basis. The company's ongoing activities are dependent upon the continued support of the director who has undertaken to provide such support for the foreseeable future. If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.
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Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
|
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Planning and operating costs for the company's website are charged to the profit and loss account as incurred.
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. 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 basis:
|
Leashold Property Improvements
Plant and Machinery
Computer Equipment
Motor Vehicles
Fixtures and Fittings
No depreciation is provided on the company
'
s freehold properties since in the opinion of the directors the expected
|
useful lives are sufficiently long and the estimated residual values are sufficiently high that any such depreciation
|
would be immaterial
.
The directors undertake an annual impairment review of these properties
.
|
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
|
3 of 4
Notes to the Abbreviated Financial Statements
|
Mambo's Distributions Limited
For the year ended 31 December 2015
222,088
(8,286)
213,802
126,639
(7,299)
3,621
Charge for year
122,961
90,841
95,449
2015
3
Creditors
:
amounts falling due within one year
|
2014
1,200
1,200
Bank loans and overdrafts (secured)
2014
2015
4
Creditors due after more than one year
|
15,494
16,628
Bank loans and overdrafts (secured)
Allotted called up and fully paid
|
2015
2014
1
Ordinary share of £
1
.
00
each
|
1
1
1
1
4 of 4