Abbreviated Company Accounts - MAGPIE (LONDON) LIMITED

Abbreviated Company Accounts - MAGPIE (LONDON) LIMITED

MAGPIE (LONDON) LIMITED - Company Information

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Registered Number 04349103

MAGPIE (LONDON) LIMITED

Abbreviated Accounts

30 November 2014

MAGPIE (LONDON) LIMITED Registered Number 04349103

Abbreviated Balance Sheet as at 30 November 2014

Notes 2014 2013
£ £
Fixed assets
Intangible assets 2 50,000 50,000
Tangible assets 3 61,475 58,922
111,475 108,922
Current assets
Stocks 4,520 4,460
Cash at bank and in hand 104,803 68,262
109,323 72,722
Creditors: amounts falling due within one year (44,957) (33,752)
Net current assets (liabilities) 64,366 38,970
Total assets less current liabilities 175,841 147,892
Creditors: amounts falling due after more than one year - (5)
Total net assets (liabilities) 175,841 147,887
Capital and reserves
Called up share capital 50 50
Profit and loss account 175,791 147,837
Shareholders' funds 175,841 147,887
  • For the year ending 30 November 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 directors acknowledge their 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 Board on 23 April 2015

And signed on their behalf by:
Mohammed Abdul Milad, Director

MAGPIE (LONDON) LIMITED Registered Number 04349103

Notes to the Abbreviated Accounts for the period ended 30 November 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents the total invoice value, excluding value added tax, of sales made during the year.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
Plant and Machinery - 15% on reducing balance
Fixture, Fitting and Equipment - 15% on reducing balance
Improvement - nil

Valuation information and policy
Stock is valued at the lower of cost and net realisable value

2Intangible fixed assets
£
Cost
At 1 December 2013 50,000
Additions -
Disposals -
Revaluations -
Transfers -
At 30 November 2014 50,000
Amortisation
At 1 December 2013 -
Charge for the year -
On disposals -
At 30 November 2014 -
Net book values
At 30 November 2014 50,000
At 30 November 2013 50,000
3Tangible fixed assets
£
Cost
At 1 December 2013 133,293
Additions 8,102
Disposals -
Revaluations -
Transfers -
At 30 November 2014 141,395
Depreciation
At 1 December 2013 74,371
Charge for the year 5,549
On disposals -
At 30 November 2014 79,920
Net book values
At 30 November 2014 61,475
At 30 November 2013 58,922