Myerscough_Developments_Limited_31_Mar_2016_abbreviated_set_of_accounts.html

Myerscough_Developments_Limited_31_Mar_2016_abbreviated_set_of_accounts.html


Private Limited CompanyCompany accountstrue1 April 2015FYtruetruefalsetruetruefalsexbrli:purexbrli:sharesiso4217:GBP011596752015-03-312016-03-31011596752016-03-31011596752015-03-3101159675uk-bus:Director12015-03-312016-03-31011596752015-04-0101159675uk-bus:OrdinaryShareClass12015-03-312016-03-3101159675uk-bus:OrdinaryShareClass12014-03-312015-03-3101159675uk-bus:OrdinaryShareClass12016-03-3101159675uk-bus:OrdinaryShareClass12015-03-3101159675uk-bus:Director22015-03-312016-03-31
Company registration number:
01159675
Myerscough Developments Limited
Abbreviated Financial Statements
for the year ended
31 March 2016
Myerscough Developments Limited
Abbreviated Balance Sheet
31 March 2016
20162015
Note££
Fixed assets    
Tangible assets #
4,998
 
5,880
 
Investments # 2,925   4,875  
7,923
 
10,755
 
Current assets    
Debtors
67,045
 
47,702
 
Cash at bank and in hand
31,526
 
68,991
 
98,571
 
116,693
 
Creditors: amounts falling due within one year #
(101,221
)
(125,838
)
Net current liabilities
(2,650
)
(9,145
)
Total assets less current liabilities
5,273
 
1,610
 
Capital and reserves    
Called up share capital #
100
 
100
 
Profit and loss account
5,173
 
1,510
 
Shareholders funds
5,273
 
1,610
 
For the year ending
31 March 2016
, 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.
These abbreviated financial statements were approved by the board of directors and authorised for issue on
30 September 2016
, and are signed on behalf of the board by:
Lady Anne Walker
Director
Company registration number:
01159675
Myerscough Developments Limited
Notes to the Abbreviated Accounts
Year ended
31 March 2016

Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents amounts invoiced during the year, exclusive of Value Added Tax and trade discounts.

Current tax

Current tax is recognised in the profit and loss account, except to the extent that it is attributable to a gain or loss that has been recognised directly in the statement of total recognised gains or losses. In this case, tax is recognised in this statement. Current tax is measured at the amounts of tax expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and accumulated impairment losses. Depreciation 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:
Fixtures and fittings15% Reducing balance basis
The carrying values of tangible assets are reviewed for impairment in a period if events or changes in circumstances indicate the carrying value may not be recoverable.

Investments

Investments held as fixed assets are initially recorded at cost, and are subsequently stated at cost less any accumulated impairment losses. The carrying values of investments held as fixed assets are reviewed for impairment in a period if events or changes in circumstances indicate the carrying value may not be recoverable.

Pension costs

The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.

Financial instruments

Financial instruments are classified and accounted for according to the substance of contractual arrangements, as either financial assets, financial liabilities or equity instruments.

Operating leases

Leases are classified as operating leases where substantially all the benefits of ownerships remain with the lessor. Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the lease term.

Tangible assets

£
Cost  
At
1 April 2015
68,347
 
At
31 March 2016
68,347
 
Depreciation  
At
1 April 2015
62,467
 
Charge
882
 
At
31 March 2016
63,349
 
Net book value  
At
31 March 2016
4,998
 
At 31 March 2015
5,880
 

Investments

£
Cost  
At
1 April 2015
4,875  
Disposals (1,950 )
At
31 March 2016
2,925  
Provision for diminution in value  
At
1 April 2015
-  
At
31 March 2016
-  
Net book value  
At
31 March 2016
2,925  
At 31 March 2015 4,875  

Called up share capital

Allotted, called up and fully paid

20162015
No.£No.£
Ordinary
shares of £​
1.00
each
100
 
100
 
100
 
100