Morale Home Furnishings UK Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: SC276175 (Scotland)

Abbreviated Accounts

for the Year Ended 31 December 2014

for

Morale Home Furnishings UK Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

K Ali

O F Ali

B Ali

L Ali

S Ali

U Ali

T M Ali

SECRETARY:

K Ali

REGISTERED OFFICE:

24 Watt Road

Hillington Industrial Estate

Glasgow

G52 4RY

REGISTERED NUMBER:

SC276175 (Scotland)

ACCOUNTANTS:

O'Haras Chartered Accountants

Radleigh House

1 Golf Road

Clarkston

Glasgow

G76 7HU

FIXED ASSETS

Tangible assets

2

34,431

43,040

CURRENT ASSETS

Stocks

722,933

582,386

Debtors

388,877

456,171

Cash at bank and in hand

3,534

16,038

1,115,344

1,054,595

CREDITORS

Amounts falling due within one year

817,377

734,244

NET CURRENT ASSETS

297,967

320,351

TOTAL ASSETS LESS CURRENT LIABILITIES

332,398

363,391

CREDITORS

Amounts falling due after more than one year

(44,193

)

(146,629

)

PROVISIONS FOR LIABILITIES

(5,339

)

(6,722

)

NET ASSETS

282,866

210,040

CAPITAL AND RESERVES

Called up share capital

3

100

100

Profit and loss account

282,766

209,940

SHAREHOLDERS' FUNDS

282,866

210,040

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 and in accordance with the

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

Turnover

Turnover represents the amounts derived from the provision of goods and services, excluding value added tax

and trade discounts.

Tangible fixed assets

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

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Computer equipment

-

20% on reducing balance

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 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.

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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2014

and 31 December 2014

107,188

DEPRECIATION

At 1 January 2014

64,148

Charge for year

8,609

At 31 December 2014

72,757

NET BOOK VALUE

At 31 December 2014

34,431

At 31 December 2013

43,040

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

100

Ordinary

£1

100

100

4.	ULTIMATE PARENT COMPANY

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