Registered Number 02018744

MINSTERPORT LIMITED

Abbreviated Accounts

30 March 2014

MINSTERPORT LIMITED Registered Number 02018744

Abbreviated Balance Sheet as at 30 March 2014

Notes 2014 2013
£ £
Fixed assets
Tangible assets 2 4,791 2,170
Investments 3 15,000 -
19,791 2,170
Current assets
Stocks 24,846 28,327
Debtors 55,748 82,817
Cash at bank and in hand 44,977 1,618
125,571 112,762
Creditors: amounts falling due within one year (104,009) (57,821)
Net current assets (liabilities) 21,562 54,941
Total assets less current liabilities 41,353 57,111
Total net assets (liabilities) 41,353 57,111
Capital and reserves
Called up share capital 155 155
Share premium account 34,950 34,950
Profit and loss account 6,248 22,006
Shareholders' funds 41,353 57,111
  • For the year ending 30 March 2014 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 16 December 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 2014

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
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. Contributions 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 31 March 2013 13,290
Additions 3,818
Disposals -
Revaluations -
Transfers -
At 30 March 2014 17,108
Depreciation
At 31 March 2013 11,120
Charge for the year 1,197
On disposals -
At 30 March 2014 12,317
Net book values
At 30 March 2014 4,791
At 30 March 2013 2,170

3Fixed assets Investments
Additions £15,000

4Transactions with directors

Name of director receiving advance or credit: David Holdsworth
Description of the transaction: Loan
Balance at 31 March 2013: £ 4,879
Advances or credits made: £ 680
Advances or credits repaid: -
Balance at 30 March 2014: £ 5,559

Name of director receiving advance or credit: Alison Holdsworth
Description of the transaction: Loan
Balance at 31 March 2013: £ 4,879
Advances or credits made: £ 680
Advances or credits repaid: -
Balance at 30 March 2014: £ 5,559