Registration number:
for the
Year Ended
Montila Engineering Limited
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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 5 ) have been prepared.
Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Montila Engineering Limited
for the Year Ended 31 May 2016
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Montila Engineering Limited for the year ended 31 May 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 http://www.icaew.com/en/members/regulations-standards-and-guidance/ .
This report is made solely to the Board of Directors of Montila Engineering Limited, 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 Montila Engineering Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Montila Engineering Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Montila Engineering Limited 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 Montila Engineering Limited. You consider that Montila Engineering 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 Montila Engineering 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.
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Martin Foster & Co. Limited
AIMS Accountants for Business
Unit 5 Shannon Court
High Street
Sandy
Bedfordshire
SG19 1AG
22 February 2017
Montila Engineering Limited
(Registration number: 06243729)
Abbreviated Balance Sheet at 31 May 2016
Note |
2016
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2015
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Fixed assets |
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Intangible fixed assets |
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Tangible fixed assets |
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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 assets |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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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 Board on
.........................................
Mr Brian Montila
Director
The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2
Montila Engineering Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2016
......... continued
Accounting policies |
Basis of preparation
Turnover
Goodwill
Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.
Amortisation
Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:
Asset class |
Amortisation method and rate |
Goodwill |
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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 |
Plant and machinery |
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Office equipment |
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Vehicles |
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Deferred tax
Hire purchase and leasing
Montila Engineering Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2016
......... continued
Financial instruments
Pensions
Fixed assets |
Intangible assets
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Tangible assets
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Total
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Cost |
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At 1 June 2015 |
49,854 |
131,246 |
181,100 |
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Additions |
- |
70,185 |
70,185 |
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Disposals |
- |
(19,810) |
(19,810) |
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At 31 May 2016 |
49,854 |
181,621 |
231,475 |
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Depreciation |
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At 1 June 2015 |
39,465 |
97,112 |
136,577 |
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Charge for the year |
4,985 |
13,734 |
18,719 |
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Eliminated on disposals |
- |
(19,810) |
(19,810) |
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At 31 May 2016 |
44,450 |
91,036 |
135,486 |
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Net book value |
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At 31 May 2016 |
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At 31 May 2015 |
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Share capital |
Allotted, called up and fully paid shares
2016 |
2015 |
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No. |
£ |
No. |
£ |
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Montila Engineering Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2016
......... continued
Related party transactions |
Directors' advances and credits |
2016 |
2016 |
2015 |
2015 |
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Mr Brian Montila |
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52,170 |
81,710 |
Mr Adrian Montila |
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49,596 |
73,700 |
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- |
- |
- |
- |
43,200 |
49,248 |
49,596 |
73,700 |
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