Mechanical Mouse Limited - Period Ending 2014-08-31

Registration number: 08673108

Mechanical Mouse Limited

Unaudited Abbreviated Accounts

for the Period from 3 September 2013 to 31 August 2014

 

C V Ross & Co Limited
Accountants and Tax Consultants
Unit 1, Office 1
Tower Lane Business Park
Tower Lane
Warmley
Bristol
BS30 8XT

Mechanical Mouse Limited
(Registration number: 08673108)
Abbreviated Balance Sheet at 31 August 2014

		Note			31 August 2014 £
Fixed assets
Intangible fixed assets					16,000
Tangible fixed assets					30,781
					46,781
Current assets
Stock and work in progress					500
Debtors					44,899
Cash at bank and in hand					12,628
					58,027
Creditors: Amounts falling due within one year					(42,386)
Net current assets					15,641
Total assets less current liabilities					62,422
Provisions for liabilities					(6,072)
Net assets					56,350
Capital and reserves
Called up share capital					10
Profit and loss account					56,340
Shareholders' funds					56,350

The notes on pages 3 to 5 form an integral part of these financial statements.
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Mechanical Mouse Limited
(Registration number: 08673108)
Abbreviated Balance Sheet at 31 August 2014
......... continued

For the year ending 31 August 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 26 May 2015

.........................................
Mr P O' Connor
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
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Mechanical Mouse Limited
Notes to the Abbreviated Accounts for the Period from 3 September 2013 to 31 August 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	straight line over 5 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
Tools and Equipment	25% reducing balance

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

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Mechanical Mouse Limited
Notes to the Abbreviated Accounts for the Period from 3 September 2013 to 31 August 2014
......... continued

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
Additions		20,000			40,993			60,993
At 31 August 2014		20,000			40,993			60,993
Depreciation
Charge for the period		4,000			10,212			14,212
At 31 August 2014		4,000			10,212			14,212
Net book value
At 31 August 2014		16,000			30,781			46,781

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Mechanical Mouse Limited
Notes to the Abbreviated Accounts for the Period from 3 September 2013 to 31 August 2014
......... continued

3	Related party transactions

Director's advances and credits

	3 September 2013 to 31 August 2014 Advance/ Credit £	3 September 2013 to 31 August 2014 Repaid £
Mr P O' Connor
Amounts due to/(from) the director	7,178	-

Other related party transactions

During the period the company made the following related party transactions:

Mr P O' Connor (Director) During the year the company paid rent of £750 to the director . At the balance sheet date the amount due to Mr P O' Connor was £nil.

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