M_R_STUDIO_LTD - Accounts
M_R_STUDIO_LTD - Accounts
Company Registration No. SC407896 (Scotland)
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2015
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
Current assets
Stocks
Debtors
Cash at bank and in hand
Creditors: amounts falling due within one year
(162,936 )
(142,476 )
Net current liabilities
(19,189 )
(23,592 )
Total assets less current liabilities
(18,594 )
(22,906 )
Capital and reserves
Called up share capital
3
Profit and loss account
(38,094 )
(42,406 )
Shareholders' funds
(18,594 )
(22,906 )
Directors' responsibilities:
-
-
Approved by the Board for issue on 28 July 2016
Director
Company Registration No. SC407896
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2015
- 2 -
1
Accounting policies
1.1
Accounting convention
The company has made a profit in the year but at the year end has a negative balance sheet. The company meets its day to day working capital requirements through loans from the directors which have no fixed repayment terms. The directors are of the opinion that the company will continue to be profitable in the coming year. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis.
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
1.4
Tangible fixed assets and depreciation
Fixtures, fittings & equipment
2
Fixed assets
Tangible assets
£
Cost
At 1 January 2015
1,260
Additions
108
At 31 December 2015
1,368
Depreciation
At 1 January 2015
574
Charge for the year
199
At 31 December 2015
773
Net book value
At 31 December 2015
595
At 31 December 2014
686
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2015
- 3 -
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid