Registered Number 01407765

MOUNTNEY LIMITED

Abbreviated Accounts

31 December 2012

MOUNTNEY LIMITED Registered Number 01407765

Abbreviated Balance Sheet as at 31 December 2012

Notes 2012 2011
£ £
Fixed assets
Intangible assets 2 438,750 472,500
Tangible assets 3 52,293 58,304
Investments 4 5,090 7,195
496,133 537,999
Current assets
Stocks 759,627 672,366
Debtors 869,594 853,785
Cash at bank and in hand 97,860 339,831
1,727,081 1,865,982
Creditors: amounts falling due within one year (1,758,520) (1,988,353)
Net current assets (liabilities) (31,439) (122,371)
Total assets less current liabilities 464,694 415,628
Creditors: amounts falling due after more than one year (38,626) -
Total net assets (liabilities) 426,068 415,628
Capital and reserves
Called up share capital 100 100
Profit and loss account 425,968 415,528
Shareholders' funds 426,068 415,628
  • For the year ending 31 December 2012 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 23 April 2013

And signed on their behalf by:
Mr M Kimpton, Director

MOUNTNEY LIMITED Registered Number 01407765

Notes to the Abbreviated Accounts for the period ended 31 December 2012

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

Tangible assets depreciation policy
Land & buildings 20% on cost
Plant & machinery 10% on reducing balance
Fixtures, fittings & equipment 15% - 33 1/3% on reducing balance

Intangible assets amortisation policy
Goodwill is written off in equal annual instaments over its estimated economic life of 4 to 20 years.

2Intangible fixed assets
£
Cost
At 1 January 2012 918,072
Additions -
Disposals -
Revaluations -
Transfers -
At 31 December 2012 918,072
Amortisation
At 1 January 2012 445,572
Charge for the year 33,750
On disposals -
At 31 December 2012 479,322
Net book values
At 31 December 2012 438,750
At 31 December 2011 472,500
3Tangible fixed assets
£
Cost
At 1 January 2012 160,051
Additions 4,241
Disposals (210)
Revaluations -
Transfers -
At 31 December 2012 164,082
Depreciation
At 1 January 2012 101,747
Charge for the year 10,123
On disposals (81)
At 31 December 2012 111,789
Net book values
At 31 December 2012 52,293
At 31 December 2011 58,304

4Fixed assets Investments
Fixed asset investment are stated at cost less provision for diminution in value.