Abbreviated Company Accounts - GRIFFON MERLIN LTD

GRIFFON MERLIN LTD - Company Information

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Registered Number 05054441

GRIFFON MERLIN LTD

Abbreviated Accounts

31 March 2015

GRIFFON MERLIN LTD Registered Number 05054441

Abbreviated Balance Sheet as at 31 March 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	1,932	2,577
		1,932	2,577
Current assets
Debtors		16,051	16,486
Cash at bank and in hand		37	2,850
		16,088	19,336
Creditors: amounts falling due within one year		(17,895)	(21,813)
Net current assets (liabilities)		(1,807)	(2,477)
Total assets less current liabilities		125	100
Total net assets (liabilities)		125	100
Capital and reserves
Called up share capital	3	100	100
Profit and loss account		25	0
Shareholders' funds		125	100

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 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 9 December 2015

And signed on their behalf by:
J Holland, Director

GRIFFON MERLIN LTD Registered Number 05054441

Notes to the Abbreviated Accounts for the period ended 31 March 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The full financial statements, 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 policy
Turnover comprises revenue from sale of copyrights in the works of literature and the connected services supplied, exclusive of Value Added Tax. Revenue is recognised in the period in which it is receivable.

Tangible assets depreciation policy
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual values, over their expected useful lives on the following bases: Motor vehicles 25% reducing balance, Fixtures and fittings 25% reducing balance, computer equipment 25% reducing balance

Other accounting policies
Going concern - The financial statements have been prepared on a going concern basis. The going concern basis would not be appropriate should the company be unable to continue trading, in which case adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities which might arise and to reclassify fixed assets as current assets. The directors intend to support the company so that it is considered that the going concern basis of accounting is appropriate in the circumstances .
Foreign Currency - Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange gains and losses are recognised in the Profit and Loss Account.

2Tangible fixed assets

	£
Cost
At 1 April 2014	9,623
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2015	9,623
Depreciation
At 1 April 2014	7,046
Charge for the year	645
On disposals	-
At 31 March 2015	7,691
Net book values
At 31 March 2015	1,932
At 31 March 2014	2,577

3Called Up Share Capital
Allotted, called up and fully paid:

	2015 £	2014 £
100 Ordinary shares of £1 each	100	100

4Transactions with directors

Name of director receiving advance or credit:	J Holland
Description of the transaction:	advances
Balance at 1 April 2014:	£ 12,629
Advances or credits made:	£ 47,522
Advances or credits repaid:	£ 47,815
Balance at 31 March 2015:	£ 12,336

During the year J Holland and R Holland had a current account with the company. The opening balance was £12,629 included in debtors. The account was debited with £37,230(cash advances to directors) and £10,292(expenses paid on behalf of directors). The account was credited with £17,358 (dividends), £6,080 (salary), £4,337 (expenses paid on behalf of company) and £20,040(repayments to company). The balance at 31 March 2015 was £12,336 and is included in other debtors.Tthe account was interest free, repayable on demand and the maximum overdrawn balance during the year was £36,542.