Michael Drain Architects Limited - Abbreviated accounts

MICHAEL DRAIN ARCHITECTS LIMITED - Company Information

Registered number

04057890

Michael Drain Architects Limited

Abbreviated Accounts

31 July 2016

Michael Drain Architects Limited

Chartered Accountants' report to the board of directors on the preparation of the unaudited abbreviated accounts of Michael Drain Architects Limited for the year ended 31 July 2016
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abbreviated accounts of Michael Drain Architects Limited for the year ended 31 July 2016 which comprise of the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
This report is made solely to the Board of Directors of Michael Drain Architects Limited, as a body, in accordance with the terms of our engagement letter dated 6 September 2016. Our work has been undertaken solely to prepare for your approval the accounts of Michael Drain Architects Limited and state those matters that we have agreed to state to the Board of Directors of Michael Drain Architects Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Michael Drain Architects Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Michael Drain Architects 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 Michael Drain Architects Limited. You consider that Michael Drain Architects 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 Michael Drain Architects 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 abbreviated accounts.

McKelvie & Co LLP
Chartered Accountants
82 Wandsworth Bridge Road
LONDON
SW6 2TF

15 February 2017

Michael Drain Architects Limited
Registered number:		04057890
Abbreviated Balance Sheet
as at 31 July 2016

Notes			2016			2015
£				£
Fixed assets
Tangible assets	2		19,434			5,270

Current assets
Debtors		136,045			244,112
Cash at bank and in hand		100,678			453
		236,723			244,565

Creditors: amounts falling due within one year		(134,818)			(129,693)

Net current assets			101,905			114,872

Total assets less current liabilities			121,339			120,142


Provisions for liabilities			(2,672)			-


Net assets			118,667			120,142

Capital and reserves
Called up share capital	4		100			100
Profit and loss account			118,567			120,042

Shareholders' funds			118,667			120,142

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.



M Drain
Director
Approved by the board on 15 February 2017

Michael Drain Architects Limited
Notes to the Abbreviated Accounts
for the year ended 31 July 2016

1	Accounting policies

	Basis of preparation
	The accounts 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 the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

	Depreciation
	Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

	Plant and machinery etc.			25% straight line
	Leasehold property improvements			10% straight line

	Deferred taxation
	Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.

	Leasing and hire purchase commitments
	Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Rentals paid under operating leases are charged to income on a straight line basis over the lease term.


2	Tangible fixed assets					£

	Cost
	At 1 August 2015					54,756
	Additions					18,504
	At 31 July 2016					73,260

	Depreciation
	At 1 August 2015					49,486
	Charge for the year					4,340
	At 31 July 2016					53,826

	Net book value
	At 31 July 2016					19,434
	At 31 July 2015					5,270


3	Loans					2016		2015
£							£
	Creditors include:
	Secured bank loans					-		7,694


4	Share capital	Nominal		2016		2016		2015
value			Number		£		£
	Allotted, called up and fully paid:
	Ordinary shares	£1 each		100		100		100