McGrath's Carpets Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 07605914 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 30 June 2014

for

McGrath's Carpets Blinds & Curtains

Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

Mrs K J McGrath

SECRETARY:

REGISTERED OFFICE:

Suite C1 Conway House

Ackhurst Park

Chorley

PR7 1NY

REGISTERED NUMBER:

07605914 (England and Wales)

ACCOUNTANTS:

APL Accountants LLP

Suite C1

Conway House

Ackhurst Park

Chorley

Lancashire

PR7 1NY

FIXED ASSETS

Intangible assets

2

6,075

6,750

Tangible assets

3

13,095

16,765

19,170

23,515

CURRENT ASSETS

Debtors

917

917

Cash at bank and in hand

3,932

1,321

4,849

2,238

CREDITORS

Amounts falling due within one year

26,603

31,544

NET CURRENT LIABILITIES

(21,754

)

(29,306

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(2,584

)

(5,791

)

CAPITAL AND RESERVES

Called up share capital

4

1

1

Profit and loss account

(2,585

)

(5,792

)

SHAREHOLDERS' FUNDS

(2,584

)

(5,791

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 22 January 2015 and were signed by:

Mrs K J McGrath - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in

accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

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

Plant and machinery etc

-

20% on reducing balance

Deferred tax

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

reversed at the balance sheet date.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2013

and 30 June 2014

7,500

AMORTISATION

At 1 July 2013

750

Amortisation for year

675

At 30 June 2014

1,425

NET BOOK VALUE

At 30 June 2014

6,075

At 30 June 2013

6,750

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2013

and 30 June 2014

24,470

DEPRECIATION

At 1 July 2013

7,705

Charge for year

3,670

At 30 June 2014

11,375

NET BOOK VALUE

At 30 June 2014

13,095

At 30 June 2013

16,765

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.14

30.6.13

value:

£

£

1

Ordinary

1

1

1