Murdoch Logistic Services Limited - Period Ending 2015-03-31

Registration number: 07567161

Murdoch Logistic Services Limited
 
  Abbreviated Accounts
 
  for the Year Ended 31 March 2015
 

Murdoch Logistic Services Limited
Abbreviated Balance Sheet at 31 March 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					84,295			49,174
Current assets
Debtors					102,539			45,553
Cash at bank and in hand					1,595			17,365
					104,134			62,918
Creditors: Amounts falling due within one year					(32,258)			(32,900)
Net current assets					71,876			30,018
Total assets less current liabilities					156,171			79,192
Creditors: Amounts falling due after more than one year					(4,100)			(3,956)
Provisions for liabilities					(13,800)			(6,100)
Net assets					138,271			69,136
Capital and reserves
Called up share capital		3			1			1
Profit and loss account					138,270			69,135
Shareholders' funds					138,271			69,136

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 accounts.

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

These accounts were approved by the director and authorised for issue on 20 November 2015.

.........................................
 S.J. Taylor
 Director
 Company Registration Number: 07567161

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

Murdoch Logistic Services Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015

1	Accounting policies

Basis of preparation

The full accounts, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Motor Vehicles	10 years straight line basis

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Operating lease agreements

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 2

Murdoch Logistic Services Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 April 2014		59,650			59,650
Additions		44,350			44,350
At 31 March 2015		104,000			104,000
Depreciation
At 1 April 2014		10,476			10,476
Charge for the year		9,229			9,229
At 31 March 2015		19,705			19,705
Net book value
At 31 March 2015		84,295			84,295
At 31 March 2014		49,174			49,174

3	Share capital

Allotted, called up and fully paid shares

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

4

Control

The company is controlled by N.Taylor, who owns 100% of the called up share capital.

Page 3