| Massapequa Limited |
| Registered number: |
07159526 |
| Director's Report |
|
| The director presents his report and accounts for the year ended 28 February 2015. |
|
| Principal activities |
| The company's principal activity during the year continued to be the provision of business analysis services. |
|
| Directors |
| The following persons served as directors during the year: |
|
|
Stephen Thorpe |
|
| Political and charitable donations |
| During the year under review, the company made various charitable donations totalling £1,000 (2014:£0). |
|
| Small company provisions |
| This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
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| This report was approved by the board on 9 June 2015 and signed on its behalf. |
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|
| Stephen Thorpe |
| Director |
|
| Massapequa Limited |
| Accountants' Report |
|
|
| Accountants' report to the director of |
| Massapequa Limited |
|
| You consider that the company is exempt from an audit for the year ended 28 February 2015. You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year. |
| In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us. |
| We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts. |
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| Carrington Corporate Services Limited |
| Accountants |
|
| Birchin Court |
| 20 Birchin Lane |
| London |
| EC3V 9DU |
|
| 9 June 2015 |
|
| Massapequa Limited |
| Notes to the Accounts |
| for the year ended 28 February 2015 |
|
| 1 |
Accounting policies |
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|
Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015). |
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Turnover |
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Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers. |
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Depreciation |
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Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
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Plant and machinery |
25% reducing value |
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|
| 2 |
Operating profit |
2015 |
|
2014 |
| £ |
£ |
|
This is stated after charging: |
|
|
Depreciation of owned fixed assets |
3,853 |
|
2,827 |
|
Directors' remuneration |
7,448 |
|
7,216 |
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|
| 3 |
Taxation |
2015 |
|
2014 |
| £ |
£ |
|
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UK corporation tax |
19,251 |
|
17,823 |
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|
| 4 |
Tangible fixed assets |
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Plant and machinery etc |
| £ |
|
Cost |
|
At 1 March 2014 |
12,087 |
|
Additions |
7,398 |
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At 28 February 2015 |
19,485 |
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|
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Depreciation |
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At 1 March 2014 |
4,805 |
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Charge for the year |
3,853 |
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At 28 February 2015 |
8,658 |
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Net book value |
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At 28 February 2015 |
10,827 |
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At 28 February 2014 |
7,282 |
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|
| 5 |
Debtors |
2015 |
|
2014 |
| £ |
£ |
|
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Trade debtors |
5,558 |
|
- |
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Other taxes and social security |
|
|
|
|
284 |
|
- |
|
Director's loan |
|
|
|
|
1,515 |
|
6,938 |
|
|
|
|
|
|
7,357 |
|
6,938 |
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|
| 6 |
Creditors: amounts falling due within one year |
2015 |
|
2014 |
| £ |
£ |
|
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Corporation tax |
19,251 |
|
17,823 |
|
VAT creditor |
6,715 |
|
2,119 |
|
Other taxes and social security costs |
- |
|
718 |
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Other creditors |
- |
|
1,935 |
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|
25,966 |
|
22,595 |
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| 7 |
Share capital |
Nominal |
|
2015 |
|
2015 |
|
2014 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
100 |
|
100 |
|
100 |
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|
| 8 |
Profit and loss account |
2015 |
| £ |
|
|
At 1 March 2014 |
63,267 |
|
Profit for the year |
78,295 |
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Dividends |
(82,500) |
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At 28 February 2015 |
59,062 |
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|
| 9 |
Dividends |
2015 |
|
2014 |
| £ |
£ |
|
|
Dividends for which the company became liable during the year: |
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Dividends paid |
82,500 |
|
82,600 |
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| 10 |
Loans to directors |
|
Description and conditions |
B/fwd |
Paid |
Repaid |
C/fwd |
| £ |
£ |
£ |
£ |
|
Stephen Thorpe |
|
Director's loan |
6,938 |
|
77,077 |
|
(82,500) |
|
1,515 |
|
|
|
6,938 |
|
77,077 |
|
(82,500) |
|
1,515 |
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Interest was charged at the official rate on all advances during the year. The outstanding balance was repaid in full by 30 April 2015. |
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| 11 |
Ultimate controlling party |
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The Director, Stephen Thorpe, controls the company by virtue of his shareholding and Directorship. |
