Mark Cant Photography Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 06172981 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 March 2015

for

Mark Cant Photography Limited

Page

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

3

FIXED ASSETS

Intangible assets

2

1,200

1,800

Tangible assets

3

12,947

10,294

14,147

12,094

CURRENT ASSETS

Debtors

24,326

49,234

Cash at bank

47,894

30,494

72,220

79,728

CREDITORS

Amounts falling due within one year

(22,703

)

(35,153

)

NET CURRENT ASSETS

49,517

44,575

TOTAL ASSETS LESS CURRENT LIABILITIES

63,664

56,669

PROVISIONS FOR LIABILITIES

(2,175

)

(1,487

)

NET ASSETS

61,489

55,182

CAPITAL AND RESERVES

Called up share capital

4

4

1

Profit and loss account

61,485

55,181

SHAREHOLDERS' FUNDS

61,489

55,182

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2015 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 2 June 2015 and were signed by:

M A Cant - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance

with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company

qualifies as a small company.

Turnover

Turnover represents the value of services provided under contracts to the extent that there is a right to

consideration and is recorded at the value of the consideration due.

Where a contract has only been partially completed at the balance sheet date, turnover represents the

value of the service provided to date based on a proportion of the total expected consideration at

completion.

Where payments are received from customers in advance of services provided, the amounts are

recorded as deferred income and included as part of Creditors due within one year.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

33.33% on cost

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.

Those held under hire purchase contracts are depreciated over their estimated useful lives. Those

held under finance leases are depreciated over their estimated useful lives or the lease term,

whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant

period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis

over the period of the lease.

Pension costs

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to the profit and loss account in the period to which they

relate.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

and 31 March 2015

6,000

AMORTISATION

At 1 April 2014

4,200

Amortisation for year

600

At 31 March 2015

4,800

NET BOOK VALUE

At 31 March 2015

1,200

At 31 March 2014

1,800

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

33,047

Additions

8,232

At 31 March 2015

41,279

DEPRECIATION

At 1 April 2014

22,753

Charge for year

5,579

At 31 March 2015

28,332

NET BOOK VALUE

At 31 March 2015

12,947

At 31 March 2014

10,294

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.15

31.3.14

value:

£

£

4

Ordinary Shares

£1

4

1

3 Ordinary Shares shares of £1 each were allotted and fully paid for cash at par during the year.

5.	RELATED PARTY DISCLOSURES

During the year, total dividends of £27,750 (2014 - £47,400) were paid to the director .

The company's related party transactions, as defined by FRSSE, are summarised below:

Loan account with M Cant (Director)

The total advances during the year were £38,841 and the total credits were £37,323.

At the Balance Sheet date, M Cant (Director) owed the company £10,876 (2014: £9,358).

The maximum amount owed by M Cant to the company at any time during the year was £47,784.

6.	ULTIMATE CONTROLLING PARTY

The company is controlled by M Cant by virtue of his shareholding in the company.