A_C_MORSE_LTD - Accounts

A C MORSE LIMITED - Company Information

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A C MORSE LTD

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 DECEMBER 2015

COMPANY REGISTRATION NO. 04587461 (England and Wales)

A C MORSE LTD

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

A C MORSE LTD

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

749,013

664,482

Current assets

Stocks

6,852

6,653

Debtors

65,895

59,145

Cash at bank and in hand

200

72,947

65,798

Creditors: amounts falling due within one year

(300,481)

(273,989)

Net current liabilities

(227,534)

(208,191)

Total assets less current liabilities

521,479

456,291

Creditors: amounts falling due after more than one year

(173,986)

(166,753)

Provisions for liabilities

(113,936)

(87,051)

233,557

202,487

Capital and reserves

Called up share capital

100

Profit and loss account

233,457

202,387

Shareholders' funds

233,557

202,487

A C MORSE LTD

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 DECEMBER 2015

- 2 -

For the financial year ended 31 December 2015 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 24 May 2016

Mr A C Morse

Director

Company Registration No. 04587461

A C MORSE LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

- 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 January 2015).

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

Goodwill

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows: Goodwill 10% straight line

Goodwill 10% straight line

1.5

Tangible fixed assets and depreciation

Tangible fixed assets other than freehold land 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:

Freehold property

2% straight line

Plant and equipment

15% reducing balance

Motor vehicles

25% reducing balance

1.6

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.

1.7

Stock

Stock is valued at the lower of cost and net realisable value.

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.

A C MORSE LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2015

- 4 -

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 January 2015

43,442

966,925

1,010,367

Additions

182,120

Disposals

(61,000)

At 31 December 2015

43,442

1,088,045

1,131,487

Depreciation

At 1 January 2015

43,442

302,443

345,885

On disposals

(36,694)

Charge for the year

73,283

At 31 December 2015

43,442

339,032

382,474

Net book value

At 31 December 2015

749,013

At 31 December 2014

664,482

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £171,112 (2014 - £153,457).

Creditors: amounts falling due after more than one year

The aggregate amount of creditors for which security has been given amounted to £173,986 (2014 - £166,753).

Share capital

2015

2014

Allotted, called up and fully paid

100 Ordinary Shares of £1 each

100