Molyneux Dust Control Limited - Period Ending 2016-03-31

Molyneux Dust Control Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2016

Marshall Accountancy Ltd
St Mary's House,
Crewe Road,
Alsager
Stoke-on-Trent
ST7 2EW

Molyneux Dust Control Limited
Contents

Accountants' Report

Abbreviated Balance Sheet

Notes to the Abbreviated Accounts

3 to 4

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 4) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Molyneux Dust Control Limited
for the Year Ended 31 March 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Molyneux Dust Control Limited for the year ended 31 March 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 icaew.com/membershandbook.

This report is made solely to the Board of Directors of Molyneux Dust Control Limited, as a body, in accordance with the terms of our engagement letterdated 24 November 2010. Our work has been undertaken solely to prepare for your approval the accounts of Molyneux Dust Control Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Molyneux Dust Control Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Molyneux Dust Control 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 loss of Molyneux Dust Control Limited. You consider that Molyneux Dust Control 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 Molyneux Dust Control 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.

......................................

Marshall Accountancy Ltd
St Mary's House,
Crewe Road,
Alsager
Stoke-on-Trent
ST7 2EW

7 December 2016

Page 1

Molyneux Dust Control Limited
(Registration number: 03230369)
Abbreviated Balance Sheet at 31 March 2016

	Note	2016 £	2015 £
Fixed assets
Tangible fixed assets		788	720
Current assets
Stocks		8,569	-
Debtors		2,881	1,827
Cash at bank and in hand		4,815	9,618
		16,265	11,445
Creditors: Amounts falling due within one year		(21,432)	(9,671)
Net current (liabilities)/assets		(5,167)	1,774
Net (liabilities)/assets		(4,379)	2,494
Capital and reserves
Called up share capital	3	2	2
Profit and loss account		(4,381)	2,492
Shareholders' (deficit)/funds		(4,379)	2,494

For the year ending 31 March 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 7 December 2016 and signed on its behalf by:

.........................................
Mr JD Molyneux
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Molyneux Dust Control Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Going concern

The financial statements have been prepared on a going concern basis due to the continued support of the directors.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

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	25% on reducing balance
Office equipment	15% on reducing balance
Computer equipment	straight line over 3 years

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

Molyneux Dust Control Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

2	Fixed assets

	Tangible assets £	Total £
Cost
At 1 April 2015	2,083	2,083
Additions	818	818
Disposals	(1,271)	(1,271)
At 31 March 2016	1,630	1,630
Depreciation
At 1 April 2015	1,363	1,363
Charge for the year	739	739
Eliminated on disposals	(1,260)	(1,260)
At 31 March 2016	842	842
Net book value
At 31 March 2016	788	788
At 31 March 2015	720	720

3	Share capital

Allotted, called up and fully paid shares

	2016			2015
		No.	£		No.	£
Ordinary shares of £1 each		2	2		2	2

Page 4