Registered Number 05227021

MIBZ DEVELOPMENTS LIMITED

Micro-entity Accounts

31 December 2016

MIBZ DEVELOPMENTS LIMITED Registered Number 05227021

Micro-entity Balance Sheet as at 31 December 2016

Notes 2016 2015
£ £
Fixed assets
Tangible assets 1 767,122 776,582
767,122 776,582
Current assets
Debtors 4,452 10,647
Cash at bank and in hand 8,405 9,677
12,857 20,324
Creditors: amounts falling due within one year (67,741) (77,891)
Net current assets (liabilities) (54,884) (57,567)
Total assets less current liabilities 712,238 719,015
Creditors: amounts falling due after more than one year (650,505) (635,422)
Provisions for liabilities (18,517) (19,600)
Total net assets (liabilities) 43,216 63,993
Capital and reserves
Called up share capital 2 100 100
Profit and loss account 43,116 63,893
Shareholders' funds 43,216 63,993
  • For the year ending 31 December 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 Companies Act 2006 with respect to accounting records and the preparation of accounts.
  • The accounts have been prepared in accordance with the micro-entity provisions and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 20 February 2017

And signed on their behalf by:
T M Zaman, Director

MIBZ DEVELOPMENTS LIMITED Registered Number 05227021

Notes to the Micro-entity Accounts for the period ended 31 December 2016

1 Tangible fixed assets
£
Cost
At 1 January 2016 996,379
Additions 10,521
Disposals -
Revaluations -
Transfers -
At 31 December 2016 1,006,900
Depreciation
At 1 January 2016 219,797
Charge for the year 19,981
On disposals -
At 31 December 2016 239,778
Net book values
At 31 December 2016 767,122
At 31 December 2015 776,582
2 Called Up Share Capital
Allotted, called up and fully paid:
2016
£
2015
£
100 Ordinary shares of £1 each 100 100

3Accounting Policies

Basis of measurement and preparation of accounts
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

The company has net current liabilities of £54,884 at the balance sheet date. In order to continue to trade the company is reliant upon the support of its Directors and Shareholders. It has been indicated that this support will continue for the foreseeable future.

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

Tangible assets depreciation policy
Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings Freehold - 2% Straight Line Basis

Other accounting policies
Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting
Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied
consistently (except as otherwise stated).


Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.


Financial Instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.


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