The Mortgage Store (Essex) Limited - Period Ending 2016-03-31

The Mortgage Store (Essex) Limited - Period Ending 2016-03-31


The Mortgage Store (Essex) Limited06130167falsetrue2015-04-012016-03-312016-03-31061301672015-04-012016-03-31061301672016-03-3106130167uk-bus:OrdinaryShareClass12016-03-3106130167uk-bus:Director12015-04-012016-03-3106130167uk-bus:OrdinaryShareClass12015-04-012016-03-3106130167uk-bus:EntityAccountantsOrAuditors2015-04-012016-03-3106130167uk-gaap:PositiveGoodwill2015-04-012016-03-3106130167uk-gaap:FixturesFittingsToolsEquipment2015-04-012016-03-31061301672015-03-31061301672015-03-3106130167uk-bus:OrdinaryShareClass12015-03-31iso4217:GBPxbrli:shares

Registration number: 06130167

The Mortgage Store (Essex) Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2016
 

Booth & Co
Chartered Certified Accountants
The Hermitage
15A Shenfield Road
Brentwood
Essex
CM15 8AG

 

The Mortgage Store (Essex) Limited
Contents

Accountants' Report

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3 to 4

 

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
The Mortgage Store (Essex) Limited
for the Year Ended 31 March 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of The Mortgage Store (Essex) Limited for the year ended 31 March 2016 set out on pages 2 to 4 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com.

This report is made solely to the Board of Directors of The Mortgage Store (Essex) Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of The Mortgage Store (Essex) Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Mortgage Store (Essex) Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that The Mortgage Store (Essex) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of The Mortgage Store (Essex) Limited. You consider that The Mortgage Store (Essex) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of The Mortgage Store (Essex) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Booth & Co
Chartered Certified Accountants
The Hermitage
15A Shenfield Road
Brentwood
Essex
CM15 8AG

25 May 2016

 

The Mortgage Store (Essex) Limited
(Registration number: 06130167)
Abbreviated Balance Sheet at 31 March 2016

   

Note

   

2016
£

   

2015
£

 

Fixed assets

 

             

Intangible fixed assets

 

   

1,600

   

2,400

 

Tangible fixed assets

 

   

1,846

   

2,464

 
   

   

3,446

   

4,864

 

Current assets

 

             

Debtors

 

   

1,590

   

3,674

 

Cash at bank and in hand

 

   

3,813

   

1,273

 
   

   

5,403

   

4,947

 

Creditors: Amounts falling due within one year

 

   

(7,791)

   

(8,748)

 

Net current liabilities

 

   

(2,388)

   

(3,801)

 

Net assets

 

   

1,058

   

1,063

 

Capital and reserves

 

             

Called up share capital

 

3

   

1,000

   

1,000

 

Profit and loss account

 

   

58

   

63

 

Shareholders' funds

 

   

1,058

   

1,063

 

For the year ending 31 March 2016 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 director acknowledges his 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 director on 25 May 2016

.........................................
Mr M Rogers
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

 

The Mortgage Store (Essex) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

1

Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Turnover

Turnover represents amounts chargeable in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:-

Asset class

Amortisation method and rate

Positive goodwill

Over 10 years

Depreciation

Depreciation is prfovided on intangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful life as follows:-

Asset class

Depreciation method and rate

Fixtures, fiitings, tools and equipment

25% Reducing balance basis

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as 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. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

 

The Mortgage Store (Essex) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

2

Fixed assets

   

Intangible assets
£

   

Tangible assets
£

   

Total
£

 

Cost

                 

At 1 April 2015

 

8,000

   

7,844

   

15,844

 

At 31 March 2016

 

8,000

   

7,844

   

15,844

 

Depreciation

                 

At 1 April 2015

 

5,600

   

5,380

   

10,980

 

Charge for the year

 

800

   

618

   

1,418

 

At 31 March 2016

 

6,400

   

5,998

   

12,398

 

Net book value

                 

At 31 March 2016

 

1,600

   

1,846

   

3,446

 

At 31 March 2015

 

2,400

   

2,464

   

4,864

 

3

Share capital

Allotted, called up and fully paid shares

 

2016

2015

   

No.

   

£

   

No.

   

£

 

Ordinary voting shares of £1 each

 

1,000

   

1,000

   

1,000

   

1,000