Abbreviated Company Accounts - MASTERS LEGAL COSTS SERVICES NUMBER 2 LIMITED

Abbreviated Company Accounts - MASTERS LEGAL COSTS SERVICES NUMBER 2 LIMITED

MASTERS LEGAL COSTS SERVICES NUMBER 2 LIMITED - Company Information

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Registered Number 05001572

MASTERS LEGAL COSTS SERVICES NUMBER 2 LIMITED

Abbreviated Accounts

30 April 2015

MASTERS LEGAL COSTS SERVICES NUMBER 2 LIMITED Registered Number 05001572

Abbreviated Balance Sheet as at 30 April 2015

Notes 2015 2014
£ £
Fixed assets
Investments 2 22,500 20,000
22,500 20,000
Current assets
Debtors 3 537,938 635,438
Cash at bank and in hand 1,000 -
538,938 635,438
Creditors: amounts falling due within one year 4 - (55,000)
Net current assets (liabilities) 538,938 580,438
Total assets less current liabilities 561,438 600,438
Total net assets (liabilities) 561,438 600,438
Capital and reserves
Called up share capital 5 20,002 20,002
Profit and loss account 541,436 580,436
Shareholders' funds 561,438 600,438
  • For the year ending 30 April 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 29 January 2016

And signed on their behalf by:
Mr N D Thurley, Director
Mrs A M Thurley, Director

MASTERS LEGAL COSTS SERVICES NUMBER 2 LIMITED Registered Number 05001572

Notes to the Abbreviated Accounts for the period ended 30 April 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts 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
Turnover represents income received from investments.

Tangible assets depreciation policy
Investments
Long term investments are classified as fixed assets.
Fixed asset investments are stated at cost in the company balance sheet.
Provision is made for any impairment in the value of fixed asset investments.

Other accounting policies
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 that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date. Timing differences are differences between the company's taxable profits and its results as stated in the financial statements that arise from the inclusion of gains and losses in tax assessments in periods different from those in which they are recognised in the financial statements. Deferred tax is measured at the average tax rates that are expected to apply in the periods in which timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax is measured on a non-discounted basis.

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.

2Fixed assets Investments
Fixed assets
Investments (£) Cost
At 1 May 2014 20,000
Additions 2,500


At 30 April 2015 22,500

3Debtors
2015
£		 2014
£
Debtors include the following amounts due after more than one year 496,938 635,438
4Creditors
2015
£		 2014
£
Secured Debts 0 55,000
Instalment debts due after 5 years 0 0
Non-instalment debts due after 5 years 0 0
5Called Up Share Capital
Allotted, called up and fully paid:
2015
£		 2014
£
20,002 Ordinary shares of £1 each 20,002 20,002

6Transactions with directors

Name of director receiving advance or credit: A M Thurley
Description of the transaction: Dividends paid
Balance at 1 May 2014: £ 39,000
Advances or credits made: £ 0
Advances or credits repaid: £ 0
Balance at 30 April 2015: £ 39,000

During the year, the company paid dividends totalling £39,000 (2014: £37,000) to A M Thurley.

N D Thurley waived his right to a dividend for both the year ended 30 April 2015 and the year ended 30 April 2014.