Mick Tomo Ltd - Period Ending 2014-05-31

Registration number: 06875103

Mick Tomo Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 May 2014
 

Mick Tomo Ltd
(Registration number: 06875103)
Abbreviated Balance Sheet at 31 May 2014

		Note			2014 £			2013 £
Fixed assets
Intangible fixed assets					18,750			20,000
Tangible fixed assets					8,733			10,187
					27,483			30,187
Current assets
Cash at bank and in hand					759			(125)
Creditors: Amounts falling due within one year					(41,205)			(29,633)
Net current liabilities					(40,446)			(29,758)
Total assets less current liabilities					(12,963)			429
Provisions for liabilities					(1,611)			(1,611)
Net liabilities					(14,574)			(1,182)
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					(14,674)			(1,282)
Shareholders' deficit					(14,574)			(1,182)

For the year ending 31 May 2014 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 director acknowledges his 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 director on 20 February 2015

Mr Michael Thomson
Director

Mick Tomo Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 May 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Goodwill	Twenty years

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	25% reducing balance
Fixtures and fittings	25% reducing balance
Computer equipment	25% reducing balance

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 June 2013		25,000			23,892			48,892
Additions		-			1,457			1,457
At 31 May 2014		25,000			25,349			50,349
Depreciation
At 1 June 2013		5,000			13,705			18,705
Charge for the year		1,250			2,911			4,161
At 31 May 2014		6,250			16,616			22,866
Net book value
At 31 May 2014		18,750			8,733			27,483
At 31 May 2013		20,000			10,187			30,187

Mick Tomo Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 May 2014
......... continued

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary of £1 each		100			100			100			100