Marvelfairs Limited - Limited company - abbreviated - 11.6
Marvelfairs Limited - Limited company - abbreviated - 11.6
REGISTERED NUMBER: |
ABBREVIATED UNAUDITED ACCOUNTS |
FOR THE YEAR ENDED 31ST DECEMBER 2014 |
FOR |
MARVELFAIRS LIMITED |
MARVELFAIRS LIMITED (REGISTERED NUMBER: 00826234) |
CONTENTS OF THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 31ST DECEMBER 2014 |
Page |
Company Information | 1 |
Abbreviated Balance Sheet | 2 |
Notes to the Abbreviated Accounts | 4 |
MARVELFAIRS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31ST DECEMBER 2014 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
MARVELFAIRS LIMITED (REGISTERED NUMBER: 00826234) |
ABBREVIATED BALANCE SHEET |
31ST DECEMBER 2014 |
2014 | 2013 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 2 |
Investments | 3 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 4 |
Revaluation reserve |
Profit and loss account |
SHAREHOLDERS' FUNDS |
The directors acknowledge their 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. |
MARVELFAIRS LIMITED (REGISTERED NUMBER: 00826234) |
ABBREVIATED BALANCE SHEET - continued |
31ST DECEMBER 2014 |
The financial statements were approved by the Board of Directors on |
MARVELFAIRS LIMITED (REGISTERED NUMBER: 00826234) |
NOTES TO THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 31ST DECEMBER 2014 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The directors have assessed various factors and risks affecting the company and its ability in these difficult |
economic times to continue to trade as a going concern.They have not identified any material uncertainties or |
risks related to events or conditions that could cast significant doubt about the company's ability to continue as a |
going concern and therefore the financial statements for the year ended 31st December 2014 have been prepared |
using the going concern basis of accounting. |
Accounting convention |
The financial statements have been prepared under the historical cost convention as modified by the revaluation |
of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective April |
2008). |
Preparation of consolidated financial statements |
The financial statements contain information about Marvelfairs Limited as an individual company and do not |
contain consolidated financial information as the parent of a group. The company has taken the option under |
Section 398 of the Companies Act 2006 not to prepare consolidated financial statements. |
Turnover |
Turnover represents net invoiced sales of goods, excluding value added tax. |
Tangible fixed assets |
Freehold property | - |
Plant and machinery | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at |
the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Hire purchase and leasing commitments |
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 and other post-retirement benefits |
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. |
Sales interest |
The company seeks to charge interest on unpaid sales invoices. Due to uncertainties as to recovery, particularly |
from customers based in Nigeria and Zambia, such interest is only recognised on a receipts basis or, if received |
within three months of a financial year end, on an accruals basis. |
Revaluation of fixed assets |
Freehold property has been revalued in the past but the directors have availed themselves of the transitional |
provisions of the Financial Reporting Standard for Smaller Entities (effective April 2008) whereby annual |
revaluations have not been made. |
MARVELFAIRS LIMITED (REGISTERED NUMBER: 00826234) |
NOTES TO THE ABBREVIATED ACCOUNTS - continued |
FOR THE YEAR ENDED 31ST DECEMBER 2014 |
2. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST OR VALUATION |
At 1st January 2014 |
Disposals | ( |
) |
At 31st December 2014 |
DEPRECIATION |
At 1st January 2014 |
Eliminated on disposal | ( |
) |
At 31st December 2014 |
NET BOOK VALUE |
At 31st December 2014 |
At 31st December 2013 |
The plant and machinery disposals represent the write-out of fully depreciated assets either no longer on hand or |
in use in the business. |
3. | FIXED ASSET INVESTMENTS |
Investments |
other |
than |
loans |
£ |
COST |
At 1st January 2014 | 20,560 |
Disposals | (20,000 | ) |
At 31st December 2014 | 560 |
NET BOOK VALUE |
At 31st December 2014 |
At 31st December 2013 |
The company's investments at the Balance Sheet date in the share capital of companies include the following: |
Nature of business: |
% |
Class of shares: | holding |
Ordinary | 99.90 |
This company did not trade during the year and is presently in members' voluntary liquidation. |
MARVELFAIRS LIMITED (REGISTERED NUMBER: 00826234) |
NOTES TO THE ABBREVIATED ACCOUNTS - continued |
FOR THE YEAR ENDED 31ST DECEMBER 2014 |
3. | FIXED ASSET INVESTMENTS - continued |
Country of incorporation: Bahamas |
Nature of business: |
% |
Class of shares: | holding |
Ordinary | 20.00 |
None of the above undertakings have been consolidated in these financial statements. Ultimate control over all |
group companies is unknown. |
4. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2014 | 2013 |
value: | £ | £ |
Ordinary | £1 |
5. | ULTIMATE PARENT COMPANY |
The immediate parent undertaking is Carlen Investments SA, a company registered in Panama. That company |
does not prepare group accounts. The identity of the party with ultimate control is unknown. |