Morale Tiles & Bathrooms UK Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: SC276176 (Scotland)

Abbreviated Accounts

for the Year Ended 31 December 2014

for

Morale Tiles & Bathrooms UK Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

K Ali

T M Ali

REGISTERED OFFICE:

24 Watt Road

Hillington Industrial Estate

Glasgow

G52 4RY

REGISTERED NUMBER:

SC276176 (Scotland)

ACCOUNTANTS:

O'Haras Chartered Accountants

Radleigh House

1 Golf Road

Clarkston

Glasgow

G76 7HU

FIXED ASSETS

Tangible assets

2

1,188,617

1,188,983

CURRENT ASSETS

Debtors

1

-

Cash at bank and in hand

146

162

147

162

CREDITORS

Amounts falling due within one year

3

256,954

232,344

NET CURRENT LIABILITIES

(256,807

)

(232,182

)

TOTAL ASSETS LESS CURRENT LIABILITIES

931,810

956,801

CREDITORS

Amounts falling due after more than one year

3

471,591

520,626

NET ASSETS

460,219

436,175

CAPITAL AND RESERVES

Called up share capital

4

100

100

Revaluation reserve

408,909

408,909

Profit and loss account

51,210

27,166

SHAREHOLDERS' FUNDS

460,219

436,175

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2014 in accordance with Section 476 of the Companies Act 2006.

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.

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 Board of Directors on 3 September 2015 and were signed on its behalf by:

K Ali - Director

1.	ACCOUNTING POLICIES

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).

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

not provided

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Deferred tax

Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods

different from those in which they are included in the company's accounts. Deferred tax is provided in full on

timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates

that are expected to apply when the timing differences reverse, based on current tax rates and laws.

Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no

commitment to sell the asset.

Deferred tax assets and liabilities are not discounted.

2.	TANGIBLE FIXED ASSETS

Total

£

COST OR VALUATION

At 1 January 2014

and 31 December 2014

1,191,874

DEPRECIATION

At 1 January 2014

2,891

Charge for year

366

At 31 December 2014

3,257

NET BOOK VALUE

At 31 December 2014

1,188,617

At 31 December 2013

1,188,983

3.

CREDITORS

Creditors include an amount of £ 168,095 (2013 - £ 204,492 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

100

Ordinary

£1

100

100

5.	ULTIMATE PARENT COMPANY

Morale (UK) Limited is regarded by the directors as being the company's ultimate parent company.