Abbreviated Company Accounts - MOURNE FREIGHT SERVICES LTD
Abbreviated Company Accounts - MOURNE FREIGHT SERVICES LTD
Registered Number NI622667
MOURNE FREIGHT SERVICES LTD
Abbreviated Accounts
31 July 2015
MOURNE FREIGHT SERVICES LTD Registered Number NI622667
Abbreviated Balance Sheet as at 31 July 2015
Notes | 2015 | ||
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£ | |||
Fixed assets | |||
Intangible assets | 2 |
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Tangible assets | 3 |
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Current assets | |||
Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
( |
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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 |
( |
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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital | 4 |
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Profit and loss account |
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Shareholders' funds |
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For the year ending 31 July 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 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:
MOURNE FREIGHT SERVICES LTD Registered Number NI622667
Notes to the Abbreviated Accounts for the period ended 31 July 2015
1Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
Tangible assets depreciation policy
Plant and machinery - 20% reducing balance
Fixtures, fittings
and equipment - 20% reducing balance
Motor Vehicles - 20% reducing balance
Other accounting policies
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce constant periodic rates of charge on the net obligations outstanding in each period.
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
£ | |
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Cost | |
Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 31 July 2015 |
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Amortisation | |
Charge for the year |
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On disposals |
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At 31 July 2015 |
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Net book values | |
At 31 July 2015 | 63,000 |
Purchased goodwill is capitalised and classified as an asset on the balance sheet. The goodwill reflected in the accounts of £70,000 will be written off to the profit and loss account on a straight line basis over expected life of 10 years, as after this period there will be no goodwill attributable to the unincorporated business.
£ | |
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Cost | |
Additions |
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Disposals |
( |
Revaluations |
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Transfers |
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At 31 July 2015 |
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Depreciation | |
Charge for the year |
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On disposals |
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At 31 July 2015 |
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Net book values | |
At 31 July 2015 | 97,571 |