Mullen & Richards Limited - Period Ending 2014-08-31

Registration number: 05404070

Mullen & Richards Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 August 2014
 

C V Ross & Co Limited
Accountants and Tax Consultants
Unit 1, Office 1
Tower Lane Business Park
Tower Lane
Warmley
Bristol
BS30 8XT

Mullen & Richards Limited
(Registration number: 05404070)
Abbreviated Balance Sheet at 31 August 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets					40,095			43,071
Current assets
Stock and work in progress					3,223			2,000
Debtors					12,431			8,783
Cash at bank and in hand					2,945			2,427
					18,599			13,210
Creditors: Amounts falling due within one year					(97,844)			(79,359)
Net current liabilities					(79,245)			(66,149)
Net liabilities					(39,150)			(23,078)
Capital and reserves
Called up share capital					10			10
Profit and loss account					(39,160)			(23,088)
Shareholders' deficit					(39,150)			(23,078)

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 1

Mullen & Richards Limited
(Registration number: 05404070)
Abbreviated Balance Sheet at 31 August 2014
......... continued

For the year ending 31 August 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 director acknowledges 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 director on 28 August 2015

.........................................
Ms F Vincent
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Mullen & Richards Limited
Notes to the Abbreviated Accounts for the Year Ended 31 August 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).

Turnover

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

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
Fixtures and fittings	25% reducing balance
Land and buildings	21 year straight line

Stock

Stock 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.

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.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

Mullen & Richards Limited
Notes to the Abbreviated Accounts for the Year Ended 31 August 2014
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 September 2013		61,526			61,526
At 31 August 2014		61,526			61,526
Depreciation
At 1 September 2013		18,455			18,455
Charge for the year		2,976			2,976
At 31 August 2014		21,431			21,431
Net book value
At 31 August 2014		40,095			40,095
At 31 August 2013		43,071			43,071

3	Related party transactions

Other related party transactions

During the year the company made the following related party transactions:

Ms F Vincent (Director) Rent amounting to £520 (2013 - £520) was paid to the director Ms F Vincent . At the balance sheet date the amount due to Ms F Vincent was £nil (2013 - £nil).

Page 4