Molly Dolly Enterprises Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC360578 (Scotland)

Unaudited Financial Statements for the Year Ended 31 July 2018

for

Molly Dolly Enterprises Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

G W Anderson

W M Anderson

Mrs N Anderson

SECRETARY:

Mrs N Anderson

REGISTERED OFFICE:

21 Claremount Avenue

Giffnock

Glasgow

G46 6UT

REGISTERED NUMBER:

SC360578 (Scotland)

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

695,000

695,000

695,000

695,000

CURRENT ASSETS

Cash at bank

2,888

-

CREDITORS

Amounts falling due within one year

6

13,968

34,000

NET CURRENT LIABILITIES

(11,080

)

(34,000

)

TOTAL ASSETS LESS CURRENT LIABILITIES

683,920

661,000

CAPITAL AND RESERVES

Called up share capital

100

100

Share premium

695,000

695,000

Retained earnings

(11,180

)

(34,100

)

SHAREHOLDERS' FUNDS

683,920

661,000

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 5 April 2019 and were signed on its behalf by:

W M Anderson - Director

1.	STATUTORY INFORMATION

Molly Dolly Enterprises Limited is a private company, limited by shares , registered in Scotland. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

During the period the company made an operating profit of £28,036 and at the balance sheet date the current

liabilities exceeded the current assets by £11,080. It is the directors' intention to continue to support the

company as they are the largest creditor, therefore the accounts have been prepared on a going concern basis.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of eight years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

not provided

Plant and machinery etc

-

20% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws

that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal

of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2017 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 August 2017

and 31 July 2018

80,000

AMORTISATION

At 1 August 2017

and 31 July 2018

80,000

NET BOOK VALUE

At 31 July 2018

-

At 31 July 2017

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 August 2017

and 31 July 2018

695,000

31,486

726,486

DEPRECIATION

At 1 August 2017

and 31 July 2018

-

31,486

31,486

NET BOOK VALUE

At 31 July 2018

695,000

-

695,000

At 31 July 2017

695,000

-

695,000

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.18

31.7.17

£

£

Bank loans and overdrafts

-

1,627

Taxation and social security

5,104

5,790

Other creditors

8,864

26,583

13,968

34,000

7.	RELATED PARTY DISCLOSURES

During the year to 31 July 2012 W Anderson and N Anderson introduced the property where the business is

situated into the company in exchange for shares.

8.	ULTIMATE CONTROLLING PARTY

The directors are the only shareholders and in their opinion the company is under their control.