Company Registration No. SC312800 (Scotland)
MORHAM & BROTCHIE LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2014
MORHAM & BROTCHIE LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
MORHAM & BROTCHIE LIMITED
ABBREVIATED BALANCE SHEET
- 1 -
2014
2013
Notes
£
£
£
£
Fixed assets
Intangible assets
2
292,500
315,000
Tangible assets
2
47,584
37,920
340,084
352,920
Current assets
Debtors
174,931
257,002
Cash at bank and in hand
37,446
198
212,377
257,200
Creditors: amounts falling due within one year
3
(180,931)
(224,227)
Net current assets
31,446
32,973
Total assets less current liabilities
371,530
385,893
Creditors: amounts falling due after more than one year
4
(245,973)
(285,476)
125,557
100,417
Capital and reserves
Called up share capital
5
1,000
1,000
Profit and loss account
124,557
99,417
Shareholders' funds
125,557
100,417
MORHAM & BROTCHIE LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
- 2 -
For the financial year ended 31 July 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board and authorised for issue on 5 March 2015
Alan S Harper
Ewan B Slight
Director
Director
Company Registration No. SC312800
MORHAM & BROTCHIE LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2014
- 3 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention.
The company made profits during the year and at the year end had a positive balance sheet. The directors consider that this will continue to be the case for the foreseeable future and on this basis the accounts have been prepared as a going concern.
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
Turnover represents amounts receivable for goods and services net of VAT and trade discounts. Profit is recognised on contracts, if the final outcome can be assessed with reasonable certainty, by including in the profit and loss account turnover and related costs as contract activity progresses. Turnover is calculated as that proportion of total contract value which costs to date bear to total expected costs for that contract.
Profit is recognised on contracts, if the final outcome can be assessed with reasonable certainty, by including in the profit and loss account turnover and related costs as contract activity progresses. Turnover is calculated as that proportion of total contract value which costs to date bear to total expected costs for that contract.
1.4
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 20 years.
1.5
Tangible fixed assets and depreciation
Tangible fixed assets 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:
Computer equipment
25% reducing balance
Fixtures, fittings & equipment
25% reducing balance
Motor vehicles
25% reducing balance
1.6
Leasing and hire purchase commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
1.7
Contracts
Amounts recoverable on contracts, which are included in debtors, are stated at the net sales value of the work done after provision for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in creditors as payments on account.
MORHAM & BROTCHIE LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2014
1
Accounting policies
(Continued)
- 4 -
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.
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 August 2013
450,000
92,970
542,970
Additions
35,430
35,430
Disposals
(39,391)
(39,391)
At 31 July 2014
450,000
89,009
539,009
Depreciation
At 1 August 2013
135,000
55,050
190,050
On disposals
(29,490)
(29,490)
Charge for the year
22,500
15,865
38,365
At 31 July 2014
157,500
41,425
198,925
Net book value
At 31 July 2014
292,500
47,584
340,084
At 31 July 2013
315,000
37,920
352,920
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £31,935 (2013 - £30,729).
4
Creditors: amounts falling due after more than one year
The aggregate amount of creditors for which security has been given amounted to £11,973 (2013 - £9,976).
5
Share capital
2014
2013
£
£
Allotted, called up and fully paid
10,000 Ordinary of 10p each
1,000
1,000
2014-07-312013-08-01truetruetruefalsetruetruetmp990E.html2015-04-07SC3128002013-08-012014-07-31SC3128002014-07-31SC3128002013-07-31SC3128002013-07-31SC312800uk-bus:CompanySecretaryDirector2013-08-012014-07-31SC312800uk-bus:Director12013-08-012014-07-31SC312800uk-gaap:PlantMachinery2013-08-012014-07-31SC312800uk-gaap:FixturesFittingsToolsEquipment2013-08-012014-07-31SC312800uk-gaap:MotorVehicles2013-08-012014-07-31SC312800uk-bus:OrdinaryShareClass12013-08-012014-07-31SC312800uk-bus:OrdinaryShareClass12014-07-31SC312800uk-bus:OrdinaryShareClass12013-07-31SC312800uk-curr:PoundSterling2013-08-012014-07-31xbrli:purexbrli:sharesiso4217:GBP