Registration number:
Unaudited Abbreviated Accounts
for the Year Ended
Metro Traders Ltd
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The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4 ) have been prepared.
Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Metro Traders Ltd
for the Year Ended 29 February 2016
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Metro Traders Ltd for the year ended 29 February 2016 set out on pages from the company's accounting records and from information and explanations you have given us.
As a practising member 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 Metro Traders Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Metro Traders Ltd and state those matters that we have agreed to state to them, 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 Metro Traders Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Metro Traders Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Metro Traders Ltd. You consider that Metro Traders Ltd 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 Metro Traders Ltd. 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.
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Gavin Fernandes Tax & Wealth Management
Chartered Accountants
6 Wildacres
Northwood
Middlesex
HA6 3JD
22 November 2016
Metro Traders Ltd
(Registration number: 05715718)
Abbreviated Balance Sheet at 29 February 2016
Note |
2016
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2015
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Fixed assets |
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Tangible fixed assets |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current (liabilities)/assets |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
- |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Shareholders' funds |
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Approved by the director on
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Mr Jose Kunjuvareed
Director
2
Metro Traders Ltd
Notes to the Abbreviated Accounts for the Year Ended 29 February 2016
......... continued
Accounting policies |
Basis of preparation
Turnover
Depreciation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class |
Depreciation method and rate |
Fixtures, fitting, tools and equipment |
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Fixed asset investments
Fixed assets |
Tangible assets
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Investments
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Total
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Cost |
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At 1 March 2015 |
6,333 |
25,263 |
31,596 |
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Additions |
- |
136,851 |
136,851 |
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At 29 February 2016 |
6,333 |
162,114 |
168,447 |
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Depreciation |
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At 1 March 2015 |
1,953 |
- |
1,953 |
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Charge for the year |
1,119 |
- |
1,119 |
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At 29 February 2016 |
3,072 |
- |
3,072 |
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Net book value |
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At 29 February 2016 |
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At 28 February 2015 |
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Metro Traders Ltd
Notes to the Abbreviated Accounts for the Year Ended 29 February 2016
......... continued
Share capital |
Allotted, called up and fully paid shares
2016 |
2015 |
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No. |
£ |
No. |
£ |
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Related party transactions |
Other related party transactions
During the year the company made the following related party transactions:
Mr Jose Kunjuvareed
(Director)
During the year Mr Jose Kunjuvareed received loans from the company. Interest was charged on the loans
at an annual rate of 3.25% until 31 March 2015 and 3.00% thereafter. The maximum amount owed to the
company during the year was £120,437. At the balance sheet date the amount due from Mr Jose Kunjuvareed
was £6,933 (2015 - £111,830).
JF Stones Ltd
(Mr Jose Kunjuvareed is the director of JF Stones Ltd)
During the period, Metro Traders Ltd has provided loans to JF Stones Ltd amounting to £13,216. At the balance
sheet date the amount due from JF Stones Ltd was £13,216 (2015 - £13,216).