My Carry Potty Limited - Period Ending 2014-09-30

Registration number: 05569041

My Carry Potty Limited
 
  Annual Report and Unaudited Abbreviated Accounts
 
  for the Year Ended 30 September 2014
 

My Carry Potty Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

My Carry Potty Limited
(Registration number: 05569041)
Abbreviated Balance Sheet at 30 September 2014

		Note			2014 £			2013 £
Fixed assets
Intangible fixed assets					22,942			4,162
Tangible fixed assets					26,037			32,846
					48,979			37,008
Current assets
Stocks					8,762			7,299
Debtors					82,070			79,459
Cash at bank and in hand					15,337			935
					106,169			87,693
Creditors: Amounts falling due within one year					(81,002)			(91,562)
Net current assets/(liabilities)					25,167			(3,869)
Total assets less current liabilities					74,146			33,139
Creditors: Amounts falling due after more than one year					(69,383)			(25,842)
Net assets					4,763			7,297
Capital and reserves
Called up share capital		4			100			100
Profit and loss account					4,663			7,197
Shareholders' funds					4,763			7,297

For the year ending 30 September 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 24 June 2015 and signed on its behalf by:

.........................................
Mr D J Jenner
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
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My Carry Potty Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 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).

The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

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
Patents	over the estimated life of 5 years
Trademarks	over the estimated life of 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
Equipment, fixtures and fittings	25% on cost
Plant and machinery	20% on cost

Research and development

Development expenditure incurred on an individual project is carried forward when its future recoverability can reasonably be regarded as assured. Any expenditure carried forward is amortised in line with the expected future sales from the related project.

Stock and work in progress

Stock and work in progress 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.

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

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.

Expenditure on patents

Where the company incurs costs in connection with patent applications but the patent has not been granted as at the Balance Sheet date, then these costs are included in other debtors.

Page 2

My Carry Potty Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2014
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 October 2013		5,595			72,096			77,691
Additions		20,235			9,624			29,859
At 30 September 2014		25,830			81,720			107,550
Depreciation
At 1 October 2013		1,433			39,250			40,683
Charge for the year		1,455			16,433			17,888
At 30 September 2014		2,888			55,683			58,571
Net book value
At 30 September 2014		22,942			26,037			48,979
At 30 September 2013		4,162			32,846			37,008

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2014 £			2013 £
Amounts falling due after more than one year		69,383			25,842

4	Share capital

Allotted, called up and fully paid shares

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

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