Murgatroyd Opticians Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 04510330 (England and Wales)

MURGATROYD OPTICIANS LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2015

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

P Murgatroyd

Mrs A E Murgatroyd

SECRETARY:

Mrs A E Murgatroyd

REGISTERED OFFICE:

Sidings House

Sidings Court

Lakeside

Doncaster

South Yorkshire

DN4 5NU

REGISTERED NUMBER:

04510330 (England and Wales)

FIXED ASSETS

Tangible assets

2

180,850

192,418

CURRENT ASSETS

Stocks

11,450

10,130

Debtors

34,074

49,571

Cash at bank and in hand

4,957

14,189

50,481

73,890

CREDITORS

Amounts falling due within one year

3

59,250

99,340

NET CURRENT LIABILITIES

(8,769

)

(25,450

)

TOTAL ASSETS LESS CURRENT LIABILITIES

172,081

166,968

CREDITORS

Amounts falling due after more than one year

3

(29,493

)

(44,472

)

PROVISIONS FOR LIABILITIES

(22,550

)

(24,682

)

NET ASSETS

120,038

97,814

CAPITAL AND RESERVES

Called up share capital

4

2

2

Profit and loss account

120,036

97,812

SHAREHOLDERS' FUNDS

120,038

97,814

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 15 February 2016 and were signed on its behalf by:

P Murgatroyd - 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business has been fully amortised in the current year.

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

-

15% on reducing balance

Computer equipment

-

33% on cost

Freehold property is not depreciated because its estimated useful life exceeds 50 years.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

Going concern

At 31 August 2015, the company had net current liabilities of £8,769 (2014: £25,450). The company is

dependent upon the continued financial support of its bankers and directors. Given the continuance of this

support, the directors consider it appropriate to prepare financial statements on a going concern basis

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2014

297,994

Additions

8,922

At 31 August 2015

306,916

DEPRECIATION

At 1 September 2014

105,576

Charge for year

20,490

At 31 August 2015

126,066

NET BOOK VALUE

At 31 August 2015

180,850

At 31 August 2014

192,418

3.

CREDITORS

Creditors include an amount of £ 44,472 (2014 - £ 59,256 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

2

Ordinary

£1

2

2

5.	CONTROLLING PARTY

The company is controlled by the directors who own 100% of the issued share capital.