M2C Innovation Limited - Limited company - abbreviated - 11.6
M2C Innovation Limited - Limited company - abbreviated - 11.6
REGISTERED NUMBER: |
M2C INNOVATION LIMITED |
ABBREVIATED UNAUDITED ACCOUNTS |
FOR THE YEAR ENDED 31 DECEMBER 2014 |
M2C INNOVATION LIMITED (REGISTERED NUMBER: 06230729) |
CONTENTS OF THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 31 DECEMBER 2014 |
Page |
Company Information | 1 |
Abbreviated Balance Sheet | 2 |
Notes to the Abbreviated Accounts | 3 |
M2C INNOVATION LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2014 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
M2C INNOVATION LIMITED (REGISTERED NUMBER: 06230729) |
ABBREVIATED BALANCE SHEET |
31 DECEMBER 2014 |
2014 | 2013 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 2 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 3 |
Profit and loss account | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
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 financial statements were approved by the director on |
M2C INNOVATION LIMITED (REGISTERED NUMBER: 06230729) |
NOTES TO THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 31 DECEMBER 2014 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The accounts have been prepared on a going concern basis given the financial support given to the company by |
Contact Cables Limited by way of a loan that will not be repaid until the company is financially solvent. Mr J |
Thorpe is the director and owner of both M2C Innovation Limited and Contact Cables Limited. |
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). |
Turnover |
Turnover represents net invoiced sales of goods, excluding value added tax. |
Tangible fixed assets |
Office equipment | - |
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 taxation is recognised in respect of all timing differences that have originated but not reversed at the |
balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay |
more, or right to pay less or to receive more, tax, with the following exceptions: |
- | Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. |
Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in |
which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance |
sheet date. |
Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
Operating leases |
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the |
period of the lease. |
M2C INNOVATION LIMITED (REGISTERED NUMBER: 06230729) |
NOTES TO THE ABBREVIATED ACCOUNTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2014 |
2. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 January 2014 |
and 31 December 2014 |
DEPRECIATION |
At 1 January 2014 |
Charge for year |
At 31 December 2014 |
NET BOOK VALUE |
At 31 December 2014 |
At 31 December 2013 |
3. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2014 | 2013 |
value: | £ | £ |
Ordinary | £1 |