Magpie Creative Communications Limited - Limited company - abbreviated

REGISTERED NUMBER: 07685325 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 30 June 2014

for

Magpie Creative Communications Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Miss R Edlin

G Savva

SECRETARY:

REGISTERED OFFICE:

1 - 5 Springfield Mount

Leeds

West Yorkshire

LS2 9NG

REGISTERED NUMBER:

07685325 (England and Wales)

ACCOUNTANTS:

Relative Accountancy

17 Old Leeds Road

Huddersfield

West Yorkshire

HD1 1SG

FIXED ASSETS

Intangible assets

2

18,540

27,810

Tangible assets

3

5,549

6,508

24,089

34,318

CURRENT ASSETS

Stocks

20,890

21,050

Debtors

29,961

46,049

Cash at bank and in hand

157,842

167,528

208,693

234,627

CREDITORS

Amounts falling due within one year

105,920

167,186

NET CURRENT ASSETS

102,773

67,441

TOTAL ASSETS LESS CURRENT
LIABILITIES

126,862

101,759

PROVISIONS FOR LIABILITIES

782

906

NET ASSETS

126,080

100,853

CAPITAL AND RESERVES

Called up share capital

4

100

Profit and loss account

125,980

100,753

SHAREHOLDERS' FUNDS

126,080

100,853

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2014 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 1 August 2014 and were signed on its behalf by:

Miss R Edlin - Director

G Savva - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax, except in respect of service contracts

where turnover is recognised when the company obtains the right to consideration.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised

evenly over its estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful

life.

Fixtures and fittings - 25% on reducing balance.

Computer equipment - 33% on cost.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2013

and 30 June 2014

46,350

AMORTISATION

At 1 July 2013

18,540

Amortisation for year

9,270

At 30 June 2014

27,810

NET BOOK VALUE

At 30 June 2014

18,540

At 30 June 2013

27,810

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2013

13,007

Additions

4,616

At 30 June 2014

17,623

DEPRECIATION

At 1 July 2013

6,499

Charge for year

5,575

At 30 June 2014

12,074

NET BOOK VALUE

At 30 June 2014

5,549

At 30 June 2013

6,508

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.14

30.6.13

value:

£

100

Ordinary

£1

100

Magpie Creative Communications Limited - Limited company - abbreviated - 11.0.0

Magpie Creative Communications Limited - Limited company - abbreviated - 11.0.0