Registered Number 02018744

MINSTERPORT LIMITED

Abbreviated Accounts

29 March 2015

MINSTERPORT LIMITED Registered Number 02018744

Abbreviated Balance Sheet as at 29 March 2015

Notes 2015 2014
£ £
Fixed assets
Tangible assets 2 3,907 4,791
Investments 3 35,075 15,000
38,982 19,791
Current assets
Stocks 31,176 24,846
Debtors 53,148 55,748
Cash at bank and in hand 23,165 44,977
107,489 125,571
Creditors: amounts falling due within one year (106,082) (104,009)
Net current assets (liabilities) 1,407 21,562
Total assets less current liabilities 40,389 41,353
Total net assets (liabilities) 40,389 41,353
Capital and reserves
Called up share capital 155 155
Share premium account 34,950 34,950
Profit and loss account 5,284 6,248
Shareholders' funds 40,389 41,353
  • For the year ending 29 March 2015 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 17 March 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 2015

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

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.

Pensions
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

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

2Tangible fixed assets
£
Cost
At 31 March 2014 17,108
Additions 94
Disposals -
Revaluations -
Transfers -
At 29 March 2015 17,202
Depreciation
At 31 March 2014 12,317
Charge for the year 978
On disposals -
At 29 March 2015 13,295
Net book values
At 29 March 2015 3,907
At 30 March 2014 4,791

3Fixed assets Investments
Unlisted investments
Cost as at 1 April 2014 £ 15,000
Additions £ 20,075

Cost as at 31 March 2015 £ 35,075

4Transactions with directors

Name of director receiving advance or credit: David Holdsworth
Description of the transaction: Loan
Balance at 31 March 2014: £ 5,559
Advances or credits made: -
Advances or credits repaid: £ 174
Balance at 29 March 2015: £ 5,385

Name of director receiving advance or credit: Alison Holdsworth
Description of the transaction: Loan
Balance at 31 March 2014: £ 5,559
Advances or credits made: -
Advances or credits repaid: £ 174
Balance at 29 March 2015: £ 5,385