Myers La Roche Limited - Period Ending 2016-03-31

Registration number: 05740090

Myers La Roche Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2016
 

Phillip Carroll Associates Limited
Chartered Certified Accountants
10 Ambassador Place
Stockport Road
Altrincham
Cheshire
WA15 8DB

Myers La Roche Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2 to 3

Notes to the Abbreviated Accounts 4 to 6

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 6) have been prepared.

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Myers La Roche 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 Myers La Roche Limited for the year ended 31 March 2016 set out on pages 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://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.

This report is made solely to the Board of Directors of Myers La Roche 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 Myers La Roche 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/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Myers La Roche Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Myers La Roche 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 Myers La Roche Limited. You consider that Myers La Roche 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 Myers La Roche 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.

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

Phillip Carroll Associates Limited
Chartered Certified Accountants
10 Ambassador Place
Stockport Road
Altrincham
Cheshire
WA15 8DB

21 December 2016

Page 1

Myers La Roche Limited
(Registration number: 05740090)
Abbreviated Balance Sheet at 31 March 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					10,277			12,348
Investments					2			2
					10,279			12,350
Current assets
Debtors					215,139			246,997
Cash at bank and in hand					11,058			51,270
					226,197			298,267
Creditors: Amounts falling due within one year					(128,973)			(163,438)
Net current assets					97,224			134,829
Total assets less current liabilities					107,503			147,179
Creditors: Amounts falling due after more than one year					(9,110)			(14,629)
Provisions for liabilities					(1,751)			(2,059)
Net assets					96,642			130,491
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					96,542			130,391
Shareholders' funds					96,642			130,491

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 directors acknowledge their 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 Board on 21 December 2016 and signed on its behalf by:

The notes on pages 4 to 6 form an integral part of these financial statements.
Page 2

Myers La Roche Limited
(Registration number: 05740090)
Abbreviated Balance Sheet at 31 March 2016
......... continued

.........................................
Mr D J Watson
Director

The notes on pages 4 to 6 form an integral part of these financial statements.
Page 3

Myers La Roche 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, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

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

Asset class	Depreciation method and rate
Fixtures and fittings	15% on reducing balance
Computer equipment	25% on reducing balance

Fixed asset investments

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

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

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.

Page 4

Myers La Roche Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2	Fixed assets

		Tangible assets £			Investments £			Total £
Cost
At 1 April 2015		40,870			2			40,872
Additions		781			-			781
At 31 March 2016		41,651			2			41,653
Depreciation
At 1 April 2015		28,522			-			28,522
Charge for the year		2,852			-			2,852
At 31 March 2016		31,374			-			31,374
Net book value
At 31 March 2016		10,277			2			10,279
At 31 March 2015		12,348			2			12,350

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking	Country of incorporation	Holding	Proportion of voting rights and shares held	Principal activity
Subsidiary undertakings
Payment Partner Limited		Ordinary	100%	Online opticians

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary 'A' shares of £1 each		51			51			51			51

Page 5

Myers La Roche Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

Ordinary 'B' shares of £1 each		49			49			49			49
		100			100			100			100

Page 6