Abbreviated Company Accounts - MYERSCOUGH DEVELOPMENTS LIMITED

Abbreviated Company Accounts - MYERSCOUGH DEVELOPMENTS LIMITED


Registered Number 01159675

MYERSCOUGH DEVELOPMENTS LIMITED

Abbreviated Accounts

31 March 2015

MYERSCOUGH DEVELOPMENTS LIMITED Registered Number 01159675

Abbreviated Balance Sheet as at 31 March 2015

Notes 2015 2014
£ £
Fixed assets
Tangible assets 2 5,880 16,091
Investments 3 4,875 4,875
10,755 20,966
Current assets
Debtors 47,702 19,947
Cash at bank and in hand 68,991 159,205
116,693 179,152
Creditors: amounts falling due within one year (125,840) (157,577)
Net current assets (liabilities) (9,147) 21,575
Total assets less current liabilities 1,608 42,541
Total net assets (liabilities) 1,608 42,541
Capital and reserves
Called up share capital 100 100
Profit and loss account 1,508 42,441
Shareholders' funds 1,608 42,541
  • For the year ending 31 March 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
  • 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.

Approved by the Board on 29 September 2015

And signed on their behalf by:
Sir Rodney Myerscough Walker, Director

MYERSCOUGH DEVELOPMENTS LIMITED Registered Number 01159675

Notes to the Abbreviated Accounts for the period ended 31 March 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover comprises the invoiced value of services supplied by the company, net of Value Added Tax and trade discounts

Tangible assets depreciation policy
Tangible fixed assets are stated at cost less depreciation.

Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:-
Motor vehicles - 20% reducing balance basis
Fixtures and Fittings - 15% reducing balance basis

Other accounting policies
Deferred taxation

Provision is made in full for taxation deferred as a result of material timing differences between the incidence of income and expenditure for taxation and accounts purposes, using the liability method.

Investments

Fixed asset investments are stated at cost less provision for permanent diminution in value.

2Tangible fixed assets
£
Cost
At 1 April 2014 91,283
Additions 375
Disposals (23,310)
Revaluations -
Transfers -
At 31 March 2015 68,348
Depreciation
At 1 April 2014 75,192
Charge for the year 1,039
On disposals (13,763)
At 31 March 2015 62,468
Net book values
At 31 March 2015 5,880
At 31 March 2014 16,091

3Fixed assets Investments
Market valuation of listed investments 2015 - £281,000 2014 - £184,000

If the investments were sold at their valuation, a tax charge not exceeding £42,625 (2014 - £36,800) would arise