M_C_SQUARED_LIMITED - Accounts

M C SQUARED LIMITED - Company Information

Print Friendly Version

Company Registration No. 02808184 (England and Wales)

M C SQUARED LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2016

M C SQUARED LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 5

M C SQUARED LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MAY 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

2,544

2,791

Investments

100

2,644

2,891

Current assets

Stocks

4,429

5,411

Debtors

73,636

31,540

Cash at bank and in hand

92,273

47,513

170,338

84,464

Creditors: amounts falling due within one year

(150,092)

(31,162)

Net current assets

20,246

53,302

Total assets less current liabilities

22,890

56,193

Provisions for liabilities

(509)

(558)

22,381

55,635

Capital and reserves

Called up share capital

678

Other reserves

324

Profit and loss account

21,379

54,633

Shareholders' funds

22,381

55,635

M C SQUARED LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 MAY 2016

- 2 -

For the financial year ended 31 May 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.

Approved by the Board for issue on 13 December 2016

P K Barnett

Director

Company Registration No. 02808184

M C SQUARED LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MAY 2016

- 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.

In the respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets 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:

Computer equipment

Between 20% and 25% on cost

Fixtures, fittings & equipment

20% per annum on cost

1.5

Leasing

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.6

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

1.7

Stock and work in progress

Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

1.8

Pensions

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

1.9

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.

M C SQUARED LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2016

- 4 -

Fixed assets

Tangible assets

Investments

Total

Cost

At 1 June 2015

37,941

100

38,041

Additions

957

Disposals

(27,281)

At 31 May 2016

11,617

100

11,717

Depreciation

At 1 June 2015

35,150

On disposals

(27,169)

Charge for the year

1,092

At 31 May 2016

9,073

Net book value

At 31 May 2016

2,544

100

2,644

At 31 May 2015

2,791

100

2,891

Holdings of more than 20%

The company holds more than 20% of the share capital of the following companies:

Company

Country of registration or

Shares held

incorporation

Class

Subsidiary undertakings

The Linen Room Limited

100.00

The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:

Capital and reserves

Profit/(loss) for the year

2016

Principal activity

The Linen Room Limited

Dormant

100

Debtors

Debtors include an amount of £1,200 (2015 - £1,200) which is due after more than one year.

M C SQUARED LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2016

- 5 -

Share capital

2016

2015

Allotted, called up and fully paid

678 Ordinary shares of £1 each

678

Control

The company is controlled by the director P K Barnett.