MRC Sourcing Limited
MRC Sourcing Limited
Registered number: 07562732
Directors' Report and
Unaudited Financial Statements
For The Year Ended 31 March 2015
MRC Sourcing Limited
Directors' Report and Financial Statements
For The Year Ended 31 March 2015
Directors' Report and Financial Statements
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| Company Information | 1 |
| Directors' Report | 2 |
| Accountant's Report | 3 |
| Dormant Profit and Loss Account Statement | 4 |
| Balance Sheet | 5 |
| Notes to the Accounts | 7 |
MRC Sourcing Limited
Company Information
For The Year Ended 31 March 2015
Company Information
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Page 1
MRC Sourcing Limited
Company No. 07562732
Directors' Report For The Year Ended 31 March 2015
Directors' Report
The directors present their report and the financial statements for the year ended 31 March 2015
Statement of Directors' Responsibilities
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). The financial statements are required by law to give a true and fair view of the state of affairs of the company and of the profit or loss for that period. In preparing the financial statements the directors are required to:
- select suitable accounting policies and then apply them consistently;
- make judgments and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
Principal Activity
The company's principal activity continues to be that of (please complete sentence)
Directors
The directors who held office during the year were as follows:
| Mr Chun Ip |
| Mr Lawrence Ling |
| Wah Cheung |
Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
On behalf of the board
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Page 2
MRC Sourcing Limited
Accountant's Report
For The Year Ended 31 March 2015
Accountant's Report
In accordance with the engagement , and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.
This report is made to the Company's Board of Directors, as a body, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the Company's Board of Directors that we have done so, and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's Board of Directors, as a body, for our work or for this report.
We have carried out this engagement in accordance with technical guidance issued by the ((Insert the name of your Professional Accountancy Body)) and have complied with the ethical guidance laid down by the Institute relating to members undertaking the compilation of financial statements.
You have acknowledged on the balance sheet as at year ended 31 March 2015 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.
We have not been instructed to carry out an audit of the financial statements. 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 financial statements
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22nd May 2015
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DLR Accountants
11 East Hill
Colchester
Essex
CO1 2QX
Page 3
MRC Sourcing Limited
Dormant Profit and Loss Account Statement
For The Year Ended 31 March 2015
Dormant Profit and Loss Account Statement
The company has not traded during the year or the preceding financial year. During these years, the company received no income and incurred no expenditure and therefore made neither profit nor loss.
Page 4
MRC Sourcing Limited
Balance Sheet
As at
31 March 2015
Balance Sheet
| 2015 | 2014 | ||||
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| Notes | £ | £ | £ | £ | |
| CURRENT ASSETS | |||||
| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 4 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 5 |
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| Profit and Loss account |
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| SHAREHOLDERS' FUNDS |
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Page 5
MRC Sourcing Limited
Balance Sheet (continued)
As at
31 March 2015
Directors' responsibilities:
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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 and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).
On behalf of the board
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Page 6
MRC Sourcing Limited
Notes to the Unaudited Accounts
For The Year Ended 31 March 2015
Notes to the Unaudited Accounts
Accounting Policies
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating Profit
The operating profit is stated after charging:
| 2015 | 2014 | ||
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Tax on Profit on Ordinary Activities
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| UK Corporation Tax |
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Creditors: Amounts Falling Due Within One Year
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| £ | £ | ||
| Directors loan accounts | 22,631 | 22,630 | |
The company's ultimate controlling party is by virtue of his ownership of 100% of the issued share capital in the company.
Page 7