Merlins Resprays Limited - Period Ending 2015-03-31

Registration number: 4655436

Merlins Resprays Limited

Unaudited Abbreviated Financial Statements

for the Year Ended 31 March 2015

Merlins Resprays Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Financial Statements 2 to 3

Merlins Resprays Limited
(Registration number: 4655436)
Abbreviated Balance Sheet at 31 March 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					2,503			2,945
		2			2,503			2,945
Current assets
Debtors					3,340			2,000
Cash at bank and in hand					5,888			11,719
					9,228			13,719
Creditors: Amounts falling due within one year					(9,344)			(16,703)
Net current liabilities					(116)			(2,984)
Net assets/(liabilities)					2,387			(39)
Capital and reserves
Called up share capital		3			1			1
Profit and loss account					2,386			(40)
Shareholders' funds/(deficit)					2,387			(39)

For the year ending 31 March 2015 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 his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the director on 9 October 2015

 D M Jones
 Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Merlins Resprays Limited
Notes to the Abbreviated Financial Statements for the
Year Ended 31 March 2015

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated financial statements have been extracted, have been prepared under the historical cost convention and in accordance with applicable accounting standards.

Going concern

The financial statements have been prepared on the assumption the company is able to carry on business as a going concern, which the director considers appropriate.

Exemption from preparing a cash flow statement

The financial statements do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company during the period, net of discounts and value added tax.

Depreciation

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

Asset class	Depreciation method and rate
Plant and machinery	25% on net book value
Motor vehicles	25% on net book value

Deferred tax

Deferred taxation 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 financial statements. 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

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.

Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.

Page 2

Merlins Resprays Limited
Notes to the Abbreviated Financial Statements for the
Year Ended 31 March 2015

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 April 2014		11,901			11,901
Additions		395			395
At 31 March 2015		12,296			12,296
Depreciation
At 1 April 2014		8,956			8,956
Charge for the year		837			837
At 31 March 2015		9,793			9,793
Net book value
At 31 March 2015		2,503			2,503
At 31 March 2014		2,945			2,945

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		1			1			1			1

Page 3