Company Registration No. 07624921 (England and Wales)
MITCH GRIFFITHS LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2016
MITCH GRIFFITHS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
MITCH GRIFFITHS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
8,612
19,923
Current assets
Stocks
10,900
10,900
Debtors
89,648
1,000
Cash at bank and in hand
248,241
83,767
348,789
95,667
Creditors: amounts falling due within one year
(133,414)
(81,755)
Net current assets
215,375
13,912
Total assets less current liabilities
223,987
33,835
Provisions for liabilities
(1,722)
-
222,265
33,835
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
222,165
33,735
Shareholders' funds
222,265
33,835
For the financial year ended 31 March 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 19 December 2016
Mr M Griffiths
Director
Company Registration No. 07624921
MITCH GRIFFITHS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 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:
Tenants Improvements
33.33% straight line
Computer equipment
33.33% straight line
Fixtures, fittings & equipment
25% reducing balance
1.5
Leasing
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
1.6
Stock
Stock is valued at the lower of cost and net realisable value.
1.7
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
MITCH GRIFFITHS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2016
- 3 -
2
Fixed assets
Tangible assets
£
Cost
At 1 April 2015
47,409
Additions
185
At 31 March 2016
47,594
Depreciation
At 1 April 2015
27,486
Charge for the year
11,496
At 31 March 2016
38,982
Net book value
At 31 March 2016
8,612
At 31 March 2015
19,923
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100