MARBLE_BEERS_LIMITED - Accounts
MARBLE_BEERS_LIMITED - Accounts
Company Registration No. 03142173 (England and Wales)
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2014
CONTENTS
Page
Accountants' report
1
Abbreviated balance sheet
2 - 3
Notes to the abbreviated accounts
4 - 5
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF MARBLE BEERS LIMITED FOR THE YEAR ENDED 31 MAY 2014
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Marble Beers Limited for the year ended 31 May 2014 set out on pages 2 to 5 from the company's accounting records and from information and explanations you have given to us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
This report is made solely to the Board of Directors of Marble Beers Limited, as a body, in accordance with the terms of our engagement letter dated 6 March 2013. Our work has been undertaken solely to prepare for your approval the financial statements of Marble Beers Limited and state those matters that we have agreed to state to the Board of Directors of Marble Beers Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Marble Beers Limited and it's Board of Directors as a body, for our work or for this report.
It is your duty to ensure that Marble Beers Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Marble Beers Limited. You consider that Marble Beers Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Marble Beers Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Moore and Smalley LLP
Chartered Accountants
ABBREVIATED BALANCE SHEET
AS AT
31 MAY 2014
- 2 -
2014
2013
Notes
£
£
£
£
Fixed assets
Intangible assets
2
Tangible assets
2
Current assets
Stocks
Debtors
Cash at bank and in hand
Creditors: amounts falling due within one year
(277,690 )
(331,537 )
Net current liabilities
(126,499 )
(194,296 )
Total assets less current liabilities
Creditors: amounts falling due after more than one year
(334,044 )
(333,832 )
Provisions for liabilities
(26,768 )
(31,444 )
189,458
151,338
Capital and reserves
Called up share capital
3
Profit and loss account
Shareholders' funds
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 MAY 2014
- 3 -
Director's responsibilities:
-
-
Approved by the Board for issue on 8 December 2014
Director
Company Registration No. 03142173
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2014
- 4 -
1
Accounting policies
1.1
Accounting convention
1.2
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).
1.3
Turnover
1.4
Goodwill
1.5
Tangible fixed assets and depreciation
Land and buildings Freehold
Land and buildings Leasehold
Plant and machinery
Fixtures, fittings & equipment
Motor vehicles
Contary to Financial Reporting Standard 15, buildings in Marble Beers Limited are not depreciated. Routine maintenance is carried out. Provision will be made should any permanent diminution in value occur. The directors consider this policy results in the accounts showing a true and fair view.
1.6
Leasing
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
1.7
Stock
Stock is valued at the lower of cost and net realisable value.
1.8
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.
1.9
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.
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2014
- 5 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 June 2013
998,543
Additions
-
3,813
At 31 May 2014
1,002,356
Depreciation
At 1 June 2013
287,633
Charge for the year
37,954
At 31 May 2014
325,587
Net book value
At 31 May 2014
676,769
At 31 May 2013
710,910
3
Share capital
2014
2013
£
£
Allotted, called up and fully paid