Morgan Wright Ltd - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 08488984 (England and Wales)

Abbreviated Accounts For The Year Ended 31st March 2015

for

Morgan Wright Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

Miss J C Morgan

Mrs A G Collison

A J Wright

REGISTERED OFFICE:

1 Charnwood Grove

Hucknall

Nottinghamshire

NG15 6QL

REGISTERED NUMBER:

08488984 (England and Wales)

ACCOUNTANTS:

L& S Accountancy Services

64 High Street

Belper

Derbyshire

DE56 1GF

FIXED ASSETS

Tangible assets

2

389

-

CURRENT ASSETS

Stocks

43,405

10,967

Debtors

37,516

15,583

Cash at bank

22,690

32,433

103,611

58,983

CREDITORS

Amounts falling due within one year

113,485

55,610

NET CURRENT (LIABILITIES)/ASSETS

(9,874

)

3,373

TOTAL ASSETS LESS CURRENT LIABILITIES

(9,485

)

3,373

CAPITAL AND RESERVES

Called up share capital

3

60

60

Profit and loss account

(9,545

)

3,313

SHAREHOLDERS' FUNDS

(9,485

)

3,373

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2015 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 8th December 2015 and were signed on its behalf by:

Mrs A G Collison - 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.

Tangible fixed assets

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

Plant and machinery etc

-

33% on cost and 15% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

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

sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

Additions

494

At 31st March 2015

494

DEPRECIATION

Charge for year

105

At 31st March 2015

105

NET BOOK VALUE

At 31st March 2015

389

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

60

Ordinary

1

60

60

4.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At 31st March 2015 the company owed to it's directors, Mr. A. J. Wright £35,292 (2014: £30,980), Miss. J. C.

Morgan £7,638 (2014: £4,980) and Mrs. A. G. Collison £7,874 (2014: £9,980). These amounts are unsecured

and have no fixed repayment terms, interest is payable on them at 8%.