Registered Number 05923811
MOULDED PACKAGING SOLUTIONS LTD
Abbreviated Accounts
31 January 2016
Notes | 2016 | 2015 | |
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£ | £ | ||
Called up share capital not paid |
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Fixed assets | |||
Intangible assets |
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Tangible assets | 2 |
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Investments | 3 |
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Current assets | |||
Stocks |
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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 | 4 |
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Net current assets (liabilities) |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year | 4 |
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Provisions for liabilities |
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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital | 5 |
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Profit and loss account |
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Shareholders' funds |
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Approved by the Board on
And signed on their behalf by:
1 Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
Tangible assets depreciation policy
Plant and machinery 15%
Tooling 10%
Computer and office equipment 25%
Other accounting policies
Stocks and work in progress are stated at the lower of cost and net realisable value. In general cost is determined on a first in first out basis and includes transport and handling costs; in the case of manufactured products cost includes all direct expenditure and production overheads based on the normal level of activity. Net realisable value is the price at which stocks can be sold in the normal course of business after allowing for the costs of realisation and, where appropriate, the costs of conversion from their existing state to a finished condition.
Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.
Hire purchase and finance lease agreements
Assets held under hire purchase and finance lease agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account on a straight line basis
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax.
Deferred tax assets will be recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
£ | |
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Cost | |
At 1 February 2015 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 31 January 2016 |
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Depreciation | |
At 1 February 2015 |
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Charge for the year |
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On disposals |
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At 31 January 2016 |
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Net book values | |
At 31 January 2016 | 364,014 |
At 31 January 2015 | 405,974 |
3
Fixed assets Investments
Cost
at 1 February 2015 842,000
Additions 230,000
at 31 January 2016 1,072,000
Amortisation
At 1 February 2015 600,000
Charge for year 150,000
At 31 January 2016 750,000
Net book value at 31 January 2016 322,000
Net book value at 31 January 2015 242,000
The investment is in an associated LLP the members of which are Alan Charlton, Iain McLeod Kevin Gallagher, Anthony Thompson and Moulded Packaging Solutions Limited. Alan Charlton and Iain McLeod are directors of Moulded Packaging Solutions Limited. Moulded Packaging Solutions Limited has a 50% share in the LLP and does not exercise control.
2016
£ |
2015
£ |
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Secured Debts |
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