Abbreviated Company Accounts - MAGNUS MARINE LIMITED

MAGNUS MARINE LIMITED - Company Information

04614496 MAGNUS MARINE LIMITED 2014-12-31 false 2014-01-01 2014-12-31 true 04614496 2014-01-01 2014-12-31 04614496 2014-12-31 04614496 2013-12-31 04614496 uk-gaap-cd-bus:Director1 2014-01-01 2014-12-31 04614496 uk-gaap-cd-bus:Director2 2014-01-01 2014-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-01-01 2014-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-12-31 iso4217:GBP shares

Registered Number 04614496

MAGNUS MARINE LIMITED

Abbreviated Accounts

31 December 2014

MAGNUS MARINE LIMITED Registered Number 04614496

Abbreviated Balance Sheet as at 31 December 2014

	Notes	2014	2013
		£	£
Fixed assets
Tangible assets	2	19,007	18,231
		19,007	18,231
Current assets
Stocks		184,283	123,968
Debtors		317,771	512,886
Cash at bank and in hand		264,654	15,002
		766,708	651,856
Creditors: amounts falling due within one year	3	(197,584)	(401,359)
Net current assets (liabilities)		569,124	250,497
Total assets less current liabilities		588,131	268,728
Total net assets (liabilities)		588,131	268,728
Capital and reserves
Called up share capital	4	10,000	10,000
Profit and loss account		578,131	258,728
Shareholders' funds		588,131	268,728

For the year ending 31 December 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 22 April 2015

And signed on their behalf by:
M J Scales, Director

MAGNUS MARINE LIMITED Registered Number 04614496

Notes to the Abbreviated Accounts for the period ended 31 December 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.

Tangible assets depreciation policy
Depreciation is charged over 4 years on a straight line basis

Other accounting policies
Research and development expenditure is written off in the year incurred
Stocks are valued at the lower of cost and net realisable value
Work in progress is valued on the basis of direct costs plus attributable share of overheads based on normal levels of activity. In respect of long term contracts,turnover and costs are recognised in the profit and loss account in respect of work done in the year including estimates of amounts not invoiced.

2Tangible fixed assets

	£
Cost
At 1 January 2014	60,431
Additions	9,439
Disposals	-
Revaluations	-
Transfers	-
At 31 December 2014	69,870
Depreciation
At 1 January 2014	42,200
Charge for the year	8,663
On disposals	-
At 31 December 2014	50,863
Net book values
At 31 December 2014	19,007
At 31 December 2013	18,231

3Creditors

	2014 £	2013 £
Secured Debts	0	19,688

4Called Up Share Capital
Allotted, called up and fully paid:

	2014 £	2013 £
10,000 Ordinary shares of £1 each	10,000	10,000