MARCHINI_CURRAN_ASSOCIATE - Accounts

MARCHINI CURRAN ASSOCIATES LIMITED - Company Information

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Company Registration No. 04341466 (England and Wales)

MARCHINI CURRAN ASSOCIATES LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2014

MARCHINI CURRAN ASSOCIATES LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

MARCHINI CURRAN ASSOCIATES LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 JUNE 2014

- 1 -

2014

2013

Notes

Fixed assets

Tangible assets

153,747

111,421

Current assets

Stocks

46,892

32,729

Debtors

322,881

415,441

Cash at bank and in hand

100,294

30,179

470,067

478,349

Creditors: amounts falling due within one year

(402,616)

(432,652)

Net current assets

67,451

45,697

Total assets less current liabilities

221,198

157,118

Creditors: amounts falling due after more than one year

(119,489)

(143,752)

Provisions for liabilities

(5,947)

(3,078)

95,762

10,288

Capital and reserves

Called up share capital

Profit and loss account

95,760

10,286

Shareholders' funds

95,762

10,288

MARCHINI CURRAN ASSOCIATES LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

30 JUNE 2014

- 2 -

For the financial year ended 30 June 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 29 August 2014

Mr S N Marchini

Director

Company Registration No. 04341466

MARCHINI CURRAN ASSOCIATES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 2014

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Leasehold Property

Straight line basis over the lease term

Equipment

33% on a straight line basis

Fixtures, fittings & equipment

25% on a reducing balance basis

Motor vehicles

25% on a straight line basis

1.5

Leasing and hire purchase commitments

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.6

Stock and work in progress

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

1.7

Pensions

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

1.8

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

MARCHINI CURRAN ASSOCIATES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2014

- 4 -

Fixed assets

Tangible assets

Cost

At 1 July 2013

257,595

Additions

111,745

Disposals

(41,435)

At 30 June 2014

327,905

Depreciation

At 1 July 2013

146,175

On disposals

(21,334)

Charge for the year

49,317

At 30 June 2014

174,158

Net book value

At 30 June 2014

153,747

At 30 June 2013

111,421

Creditors: amounts falling due within one year

The bank loans and overdraft included within creditors are secured by personal guarantees from the directors.

Share capital

2014

2013

Allotted, called up and fully paid

2 Ordinary of £1 each