Abbreviated Company Accounts - MERCHANT MARKETING GROUP LTD
Abbreviated Company Accounts - MERCHANT MARKETING GROUP LTD
Registered Number 01640897
MERCHANT MARKETING GROUP LTD
Abbreviated Accounts
31 December 2014
MERCHANT MARKETING GROUP LTD Registered Number 01640897
Abbreviated Balance Sheet as at 31 December 2014
Notes | 2014 | 2013 | |
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£ | £ | ||
Fixed assets | |||
Intangible assets | 2 |
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Tangible assets | 3 |
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Investments | 4 |
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Current assets | |||
Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year | 5 |
( |
( |
Net current assets (liabilities) |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year | 5 |
( |
( |
Provisions for liabilities |
( |
( |
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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital | 6 |
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Profit and loss account |
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Shareholders' funds |
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For the year ending 31 December 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 directors acknowledge their 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 Board on
And signed on their behalf by:
MERCHANT MARKETING GROUP LTD Registered Number 01640897
Notes to the Abbreviated Accounts for the period ended 31 December 2014
1Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
Tangible assets depreciation policy
Fixtures, fittings and equipment - 25% reducing balance
Intangible assets amortisation policy
Research expenditure is written off to the profit and loss account in the year in which it is incurred. Development expenditure is written off in the same year unless the directors are satisfied as to the technical, commercial and financial viability of individual projects. In this situation, the expenditure is deferred and amortised over the period from which the company is expected to benefit.
Other accounting policies
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Investments
Fixed asset investments are stated at cost less provision for permanent diminution in value.
Stock
Stock is valued at the lower of cost and net realisable value.
Pensions
The pension costs charged in the financial statements represent the contribution payable by the company during the year.
The regular cost of providing retirement pensions and related benefits is charged to the profit and loss account over the employee's service lives on the basis of a constant percentage of earnings
Deferred taxation
Deferred tax 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 will result in an obligation to pay more, or a right to pay less or to receive more, tax, with the following exceptions:
Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments) of fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose of the assets concerned. However, no provision is made where, on the basis of all available evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled over into replacement assets and charged to tax only where the replacement assets are sold;
Provision is made for deferred tax that would arise on remittance of the retained earnings of overseas subsidiaries, associates and joint ventures only to the extent that, at the balance shhet date, dividends have been accrued as receivable;
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.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange prevailing at the accounting date. Transactions in foreign currencies are recorded at the date of the transactions. All differences are taken to the Profit and Loss account.
Group accounts
The company is entitled to the exemption under Section 398 of the Companies Act 2006 from the obligation to prepare group accounts.
Foreign currencies
Monetary assets
£ | |
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Cost | |
At 1 January 2014 |
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Additions |
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Disposals |
( |
Revaluations |
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Transfers |
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At 31 December 2014 |
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Amortisation | |
At 1 January 2014 |
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Charge for the year |
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On disposals |
( |
At 31 December 2014 |
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Net book values | |
At 31 December 2014 | 56,250 |
At 31 December 2013 | 47,222 |
£ | |
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Cost | |
At 1 January 2014 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 31 December 2014 |
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Depreciation | |
At 1 January 2014 |
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Charge for the year |
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On disposals |
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At 31 December 2014 |
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Net book values | |
At 31 December 2014 | 14,603 |
At 31 December 2013 | 19,951 |
4Fixed assets Investments
2014
£ |
2013
£ |
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Secured Debts |
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7Transactions with directors
Name of director receiving advance or credit: | ||
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Description of the transaction: | ||
Balance at 1 January 2014: | £ |
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Advances or credits made: | ||
Advances or credits repaid: | £ |
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Balance at 31 December 2014: | £ |