Abbreviated Company Accounts - MORFITT WASTE MANAGEMENT LTD

PIERCY PROPERTIES LIMITED - Company Information

Registered Number 07570527

MORFITT WASTE MANAGEMENT LTD

Abbreviated Accounts

31 March 2016

MORFITT WASTE MANAGEMENT LTD Registered Number 07570527

Abbreviated Balance Sheet as at 31 March 2016

	Notes	2016	2015
		£	£
Fixed assets
Tangible assets	2	253,971	273,290
Investments	3	1,400,867	966,536
		1,654,838	1,239,826
Current assets
Debtors		59,360	294,906
Cash at bank and in hand		144,592	188,233
		203,952	483,139
Creditors: amounts falling due within one year		(208,124)	(522,119)
Net current assets (liabilities)		(4,172)	(38,980)
Total assets less current liabilities		1,650,666	1,200,846
Creditors: amounts falling due after more than one year		(5,551)	(9,738)
Provisions for liabilities		(25,037)	(29,317)
Total net assets (liabilities)		1,620,078	1,161,791
Capital and reserves
Called up share capital		1	1
Profit and loss account		1,620,077	1,161,790
Shareholders' funds		1,620,078	1,161,791

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 15 December 2016

And signed on their behalf by:
R E Hunter, Director

MORFITT WASTE MANAGEMENT LTD Registered Number 07570527

Notes to the Abbreviated Accounts for the period ended 31 March 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents the total invoice value, excluding value added tax, of sales made during the year and derives from the provision of goods falling within the company's ordinary activities.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
Land and buildings - 2% straight line
Plant and machinery - 10% straight line
Motor vehicles - 25% straight line

Other accounting policies
Investment properties
Investment properties are included in the balance sheet at their open market value in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) and are not depreciated.
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 constant periodic rates of charge on the net obligations outstanding in each period.

2Tangible fixed assets

	£
Cost
At 1 April 2015	298,892
Additions	25,061
Disposals	(21,000)
Revaluations	-
Transfers	-
At 31 March 2016	302,953
Depreciation
At 1 April 2015	25,602
Charge for the year	31,750
On disposals	(8,370)
At 31 March 2016	48,982
Net book values
At 31 March 2016	253,971
At 31 March 2015	273,290

3Fixed assets Investments
Fixed asset investments are stated at cost less provision for permanent diminution in value. There were no disposals in the year. Additions at cost of £434,331.