Company Registration No. 09182325 (England and Wales)
M.A.D.E. @ NO. 18 LTD
UNAUDITED ABBREVIATED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2016
M.A.D.E. @ NO. 18 LTD
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
M.A.D.E. @ NO. 18 LTD
ABBREVIATED BALANCE SHEET
AS AT
31 AUGUST 2016
31 August 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
5,380
5,742
Current assets
Stocks
3,500
2,000
Debtors
332
773
Cash at bank and in hand
141
130
3,973
2,903
Creditors: amounts falling due within one year
(52,687)
(45,959)
Net current liabilities
(48,714)
(43,056)
Total assets less current liabilities
(43,334)
(37,314)
Capital and reserves
Called up share capital
3
1
1
Profit and loss account
(43,335)
(37,315)
Shareholder's funds
(43,334)
(37,314)
For the financial year ended 31 August 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 member has 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 30 May 2017
Mr D W Taylor
Director
Company Registration No. 09182325
M.A.D.E. @ NO. 18 LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 AUGUST 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). At the year end the company had net liabilities of £43,334 which indicates that the company may not be a going concern. However, based on the long term business plans, the director is confident that the company will continue to trade profitably in future periods and generate sufficient cash flows to meet its obligations as they fall due for payment. The company is dependent upon continued finance being available by its bankers and director, who is the shareholder. These parties have confirmed that sufficient funds will continue to be made available to allow the company to meet its liabilities as they fall due.
At the year end the company had net liabilities of £43,334 which indicates that the company may not be a going concern. However, based on the long term business plans, the director is confident that the company will continue to trade profitably in future periods and generate sufficient cash flows to meet its obligations as they fall due for payment.
The company is dependent upon continued finance being available by its bankers and director, who is the shareholder. These parties have confirmed that sufficient funds will continue to be made available to allow the company to meet its liabilities as they fall due.
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 .
.
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:
Plant and machinery
20% on 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.
M.A.D.E. @ NO. 18 LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2016
- 3 -
2
Fixed assets
Tangible assets
£
Cost
At 1 September 2015
7,242
Additions
988
At 31 August 2016
8,230
Depreciation
At 1 September 2015
1,500
Charge for the year
1,350
At 31 August 2016
2,850
Net book value
At 31 August 2016
5,380
At 31 August 2015
5,742
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
1 Ordinary share of £1 each
1
1