Registered Number 02018744

MINSTERPORT LIMITED

Abbreviated Accounts

30 March 2013

MINSTERPORT LIMITED Registered Number 02018744

Abbreviated Balance Sheet as at 30 March 2013

Notes 2013 2012
£ £
Fixed assets
Tangible assets 2 2,170 1,486
2,170 1,486
Current assets
Stocks 28,327 29,554
Debtors 82,817 113,599
Cash at bank and in hand 1,618 4,920
112,762 148,073
Creditors: amounts falling due within one year (57,821) (75,326)
Net current assets (liabilities) 54,941 72,747
Total assets less current liabilities 57,111 74,233
Total net assets (liabilities) 57,111 74,233
Capital and reserves
Called up share capital 155 155
Share premium account 34,950 34,950
Profit and loss account 22,006 39,128
Shareholders' funds 57,111 74,233
  • For the year ending 30 March 2013 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 13 March 2014

And signed on their behalf by:
David Holdsworth, Director

MINSTERPORT LIMITED Registered Number 02018744

Notes to the Abbreviated Accounts for the period ended 30 March 2013

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 the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

Tangible assets depreciation policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant and machinery 20% reducing balance
Motor vehicles 25% reducing balance

Other accounting policies
Stocks
Stock is valued at the lower of cost and net realisable value.
Foreign currencies
Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.
Leasing and hire purchase commitments
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.

The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Rentals paid under operating leases are charged to income on a straight line basis over the lease term.
Pensions
The company operates a defined contribution pension scheme. Contributuions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

2Tangible fixed assets
£
Cost
At 1 April 2012 12,063
Additions 1,227
Disposals -
Revaluations -
Transfers -
At 30 March 2013 13,290
Depreciation
At 1 April 2012 10,577
Charge for the year 543
On disposals -
At 30 March 2013 11,120
Net book values
At 30 March 2013 2,170
At 31 March 2012 1,486

3Transactions with directors

Name of director receiving advance or credit: David Holdsworth
Description of the transaction: Loan
Balance at 1 April 2012: £ 3,164
Advances or credits made: £ 1,715
Advances or credits repaid: -
Balance at 30 March 2013: £ 4,879

Name of director receiving advance or credit: Alison Holdsworth
Description of the transaction: Loan
Balance at 1 April 2012: £ 3,164
Advances or credits made: £ 1,715
Advances or credits repaid: -
Balance at 30 March 2013: £ 4,879