Registered Number 02018744

MINSTERPORT LIMITED

Abbreviated Accounts

29 March 2016

MINSTERPORT LIMITED Registered Number 02018744

Abbreviated Balance Sheet as at 29 March 2016

Notes 2016 2015
£ £
Fixed assets
Tangible assets 2 13,364 3,907
Investments 3 35,075 35,075
48,439 38,982
Current assets
Stocks 12,005 31,176
Debtors 47,002 53,148
Cash at bank and in hand 38,098 23,165
97,105 107,489
Creditors: amounts falling due within one year (106,184) (106,082)
Net current assets (liabilities) (9,079) 1,407
Total assets less current liabilities 39,360 40,389
Total net assets (liabilities) 39,360 40,389
Capital and reserves
Called up share capital 155 155
Share premium account 34,950 34,950
Profit and loss account 4,255 5,284
Shareholders' funds 39,360 40,389
  • For the year ending 29 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 13 December 2016

And signed on their behalf by:
David Holdsworth, Director

MINSTERPORT LIMITED Registered Number 02018744

Notes to the Abbreviated Accounts for the period ended 29 March 2016

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 & machinery - 20% reducing balance
Motor vehicles - 25% reducing balance

Other accounting policies
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.

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.

Stocks
Stock is valued at the lower of cost and net realisable value.

2Tangible fixed assets
£
Cost
At 30 March 2015 17,202
Additions 12,798
Disposals -
Revaluations -
Transfers -
At 29 March 2016 30,000
Depreciation
At 30 March 2015 13,295
Charge for the year 3,341
On disposals -
At 29 March 2016 16,636
Net book values
At 29 March 2016 13,364
At 29 March 2015 3,907

3Fixed assets Investments
Unlisted investments
Cost as at 1 April 2015 £35,075

Cost as at 31 March 2016 £35,075

4Transactions with directors

Name of director receiving advance or credit: David Holdsworth
Description of the transaction: Loan
Balance at 30 March 2015: £ 5,385
Advances or credits made: -
Advances or credits repaid: £ 5,385
Balance at 29 March 2016: £ 0

Name of director receiving advance or credit: Alison Holdsworth
Description of the transaction: Loan
Balance at 30 March 2015: £ 5,385
Advances or credits made: -
Advances or credits repaid: £ 5,385
Balance at 29 March 2016: £ 0