Company Registration number 05731687
MIDLEISURE SERVICES (VENDING) LTD
Abbreviated Accounts
For the year ended 31 March 2015
MIDLEISURE SERVICES (VENDING) LTD
Financial statements for the year ended 31 March 2015
Contents
Pages
Balance sheet
1
Notes to the financial statements
2-3
MIDLEISURE SERVICES (VENDING) LTD
Abbreviated balance sheet as at 31 March 2015
2015
2014
Notes
£
£
£
£
£
£
Fixed assets
Tangible assets
103,965
107,960
2
Investments
50
100
2
104,015
108,060
2
Current assets
Stock
2,165
2,381
Debtors
87,672
53,237
Cash at bank and in hand
27,838
50,259
117,675
105,877
Creditors:
amounts falling due within one year
(171,234)
(150,233)
Net current liabilities
(53,559)
(44,356)
Total assets less current liabilities
50,456
63,704
Capital and reserves
Called up share capital
2
2
3
Profit and loss account
50,454
63,702
Shareholders' funds
50,456
63,704
For the financial year ended 31 March 2015 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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and the Financial Reporting Standard for Smaller Entities (effective April 2008).
Approved by the board of directors on 12 November 2015 and signed on its behalf.
__________________________ Mr S J Barrett - Director
Company Registration No: 05731687
The notes on pages 2 to 3 form part of these financial statements.
1
MIDLEISURE SERVICES (VENDING) LTD
Notes to the abbreviated accounts for the year ended 31 March 2015
1
Accounting policies
a)
Basis of accounting
The financial statements are prepared on the historical cost basis of accounting and have been prepared in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
The company has taken advantage of the exemption, conferred by Financial Reporting Standard 1, from presenting a cash flow statement as it qualifies as a small company.
b)
Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.
c)
Depreciation of tangible fixed assets
Depreciation is provided on all tangible fixed assets at rates calculated to write off the full cost or valuation less estimated residual value of each asset over its estimated useful life. The principal rates in use are:
Freehold buildings
2% on reducing balance
Motor vehicles
20% on reducing balance
Equipment, fixtures and fittings
15% on reducing balance
Plant and machinery
15% on reducing balance
d)
Stocks
Stock and work in progress is valued at the lower of cost and estimated net realisable value. Cost of raw materials is determined on the first in first out basis. In the case of work in progress and finished goods, cost includes all direct expenditure and production overheads based on the normal level of activity. Net realisable value is the price at which the stock can be released in the normal course of business, less further costs to completion of sale.
e)
Investments
Investments held as fixed assets are stated at cost less provision for any diminution in value.
2
Fixed assets
Tangible
fixed
Investments
assets
Total
£
£
£
£
£
£
£
£
£
Cost:
At 1 April 2014
100
132,409
132,509
Disposals
(50)
-
(50)
At 31 March 2015
50
132,409
132,459
Depreciation:
At 1 April 2014
-
24,449
24,449
Provision for the year
-
3,995
3,995
At 31 March 2015
-
28,444
28,444
Net book value:
At 31 March 2015
50
103,965
104,015
At 31 March 2014
100
107,960
108,060
2
MIDLEISURE SERVICES (VENDING) LTD
Notes to the abbreviated accounts for the year ended 31 March 2015 (continued)
3
Called-up share capital
2015
2014
2015
2014
£
£
£
£
£
£
£
£
£
£
£
£
Allotted, called up and fully paid
Equity shares:
Ordinary shares of £1 each
2
2
3