Company Registration No. 07898651 (England and Wales)
MOUNT STREET ASSOCIATES LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2016
MOUNT STREET ASSOCIATES LTD
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
MOUNT STREET ASSOCIATES LTD
ABBREVIATED BALANCE SHEET
AS AT
31 JANUARY 2016
31 January 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
866
1,155
Current assets
Debtors
1,014
-
Cash at bank and in hand
22,442
34,073
23,456
34,073
Creditors: amounts falling due within one year
(23,639)
(30,529)
Net current liabilities/(assets)
(183)
3,544
Total assets less current liabilities
683
4,699
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
583
4,599
Shareholders' funds
683
4,699
For the financial year ended 31 January 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 22 May 2016
Mr Alun Roberts
Director
Company Registration No. 07898651
MOUNT STREET ASSOCIATES LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JANUARY 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
The turnover shown in the profit and loss account represents gross amounts invoiced less the flat rate of VAT at 14%.
rate of VAT at 14%.
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:
Fixtures, fittings & equipment
25% Reducing Balance
2
Fixed assets
Tangible assets
£
Cost
At 1 February 2015 & at 31 January 2016
1,893
Depreciation
At 1 February 2015
738
Charge for the year
289
At 31 January 2016
1,027
Net book value
At 31 January 2016
866
At 31 January 2015
1,155
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary Shares of £1 each
100
100
MOUNT STREET ASSOCIATES LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2016
- 3 -
4
Ultimate parent company
The company was under the control of Mr.
A Roberts
, the managing director, along with close
family members by virtue of their majority shareholding in the company