MBM_CONSULTANCY_LTD - Accounts
MBM_CONSULTANCY_LTD - Accounts
Company Registration No. 06417469 (England and Wales)
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2014
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
ABBREVIATED BALANCE SHEET
AS AT
30 NOVEMBER 2014
- 1 -
2014
2013
Notes
£
£
£
£
Fixed assets
Tangible assets
2
Current assets
Debtors
Cash at bank and in hand
Creditors: amounts falling due within one year
(12,558 )
(21,237 )
Net current assets
Total assets less current liabilities
Provisions for liabilities
(415 )
(262 )
3,935
9,048
Capital and reserves
Called up share capital
3
Profit and loss account
Shareholders' funds
Directors' responsibilities:
-
-
Approved by the Board for issue on 25 March 2015
Director
Company Registration No. 06417469
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 NOVEMBER 2014
- 2 -
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
Tangible fixed assets and depreciation
Fixtures, fittings & equipment
1.5
Revenue recognition
Fee income represents revenue earned under a wide variety of contracts to provide professional services. Revenue is recognised as earned when, and to the extent that, the firm obtains the right to consideration in exchange for its performance under these contracts. It is measured at the fair value of the right to consideration, which represents amounts chargeable to clients, including expenses and disbursements but excluding value added tax.
Revenue is generally recognised as contract activity progresses so that for incomplete contracts it reflects the partial performance of the contractual obligations. For such contracts the amount of revenue reflects the accrual of the right to consideration by reference to the value of work performed. Revenue not billed to clients is included in debtors and payments on account in excess of the relevant amount of revenue are included in creditors.
Fee income that is contingent on events outside the control of the firm is recognised when the contingent event occurs.
Revenue is generally recognised as contract activity progresses so that for incomplete contracts it reflects the partial performance of the contractual obligations. For such contracts the amount of revenue reflects the accrual of the right to consideration by reference to the value of work performed. Revenue not billed to clients is included in debtors and payments on account in excess of the relevant amount of revenue are included in creditors.
Fee income that is contingent on events outside the control of the firm is recognised when the contingent event occurs.
1.6
Pensions
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
1.7
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.
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2014
- 3 -
2
Fixed assets
Tangible assets
£
Cost
At 1 December 2013
2,448
Additions
1,130
At 30 November 2014
3,578
Depreciation
At 1 December 2013
1,136
Charge for the year
366
At 30 November 2014
1,502
Net book value
At 30 November 2014
2,076
At 30 November 2013
1,312
3
Share capital
2014
2013
£
£
Allotted, called up and fully paid