Accounts filed on 31-12-2014
Accounts filed on 31-12-2014
trueMPE1 LimitedSC4293592014-12-314067-178604069-17858224069-178581000020000140692142-164611-1695782309572407716634671193170273987312000100003731921320178680171720178680171720Basis of accounting
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).
These accounts have been prepared on the going concern basis. This basis may not be appropriate due to the deficit on the balance sheet at the period end. Should the Company be unable to continue trading, adjustments would have to be made to reduce the value of assets to their recoverable amount to provide for any further liabilities which may arise and to reclassify fixed assets and long term liabilities as current assets and liabilities. The Company is relying on the continued support of the Director.
Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance
for obsolete and slow moving items.
Hire purchase agreements
Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed
assets at their fair value. The capital element of the future payments is treated as a liability and
the interest is charged to the profit and loss account on a straight line basis.
Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.
Fixed Assets
All fixed assets are initially recorded at cost.
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.Fixtures & FittingsMethod for Fixtures & fittings0.0000EquipmentMethod for Equipment0.0000Tenants AlterationsMethod for Leasehold property0.000020202817503729081-209023348331720083-5220202817503729081-2090233483317-5220083Ordinary2120Ordinary1222The company was under the control of Mr J Horne throughout the current period. Mr Horne is the managing director and majority shareholder. At the year end, Mr Horne owed the company £14,434 (last year £7,678).
Mr Horne is also a director of Slot Leisure Ltd, Henry's Coffee House and Square 67 Ltd. At the year end Slot Leisure Ltd was due the company £16 (last year the company was due Slot Leisure Ltd £14,078). At the year end Henry's Coffee House was due the company £1,434 (last year the company was due Henry's Coffee House £14,466). At the year end the company was due Square 67 Ltd £18,619 (last year £41,976).2015-09-29Mr J Hornetruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureMPE1 Limited2014-01-012014-12-31MPE1 Limited2012-07-302013-12-31MPE1 Limited2012-07-29MPE1 Limited2013-12-31MPE1 Limited2013-12-31MPE1 Limited2014-12-31 2015-09-30