MORHAM_&_BROTCHIE_LIMITED - Accounts

MORHAM & BROTCHIE LIMITED - Company Information

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Company Registration No. SC312800 (Scotland)

MORHAM & BROTCHIE LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2016

MORHAM & BROTCHIE LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

MORHAM & BROTCHIE LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 JULY 2016

- 1 -

2016

2015

Notes

Fixed assets

Intangible assets

247,500

270,000

Tangible assets

32,836

40,116

280,336

310,116

Current assets

Debtors

218,657

223,528

Cash at bank and in hand

9,371

3,023

228,028

226,551

Creditors: amounts falling due within one year

(212,085)

(189,342)

Net current assets

15,943

37,209

Total assets less current liabilities

296,279

347,325

Creditors: amounts falling due after more than one year

(180,000)

(210,444)

116,279

136,881

Capital and reserves

Called up share capital

1,000

Profit and loss account

115,279

135,881

Shareholders' funds

116,279

136,881

For the financial year ended 31 July 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 18 January 2017

Alan S Harper

Ewan B Slight

Director

Company Registration No. SC312800

MORHAM & BROTCHIE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 JULY 2016

- 2 -

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).

The company made profits during the year and at the year end had a positive balance sheet. The directors consider that this will continue to be the case for the foreseeable future and on this basis the accounts have been prepared as a going concern.

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.

Profit is recognised on contracts, if the final outcome can be assessed with reasonable certainty, by including in the profit and loss account turnover and related costs as contract activity progresses. Turnover is calculated as that proportion of total contract value which costs to date bear to total expected costs for that contract.

1.4

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 20 years.

1.5

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

25% reducing balance

Fixtures, fittings & equipment

25% reducing balance

Motor vehicles

25% reducing balance

MORHAM & BROTCHIE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2016

- 3 -

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 August 2015

450,000

94,921

544,921

Additions

3,671

At 31 July 2016

450,000

98,592

548,592

Depreciation

At 1 August 2015

180,000

54,805

234,805

Charge for the year

22,500

10,951

33,451

At 31 July 2016

202,500

65,756

268,256

Net book value

At 31 July 2016

247,500

32,836

280,336

At 31 July 2015

270,000

40,116

310,116

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £40,625 (2015 - £42,392).

Creditors: amounts falling due after more than one year

The aggregate amount of creditors for which security has been given amounted to £0 (2015 - £2,794).

Share capital

2016

2015

Allotted, called up and fully paid

10,000 Ordinary of 10p each

1,000