Youel Murray Ltd - Period Ending 2015-03-31

Registration number: 02265543

Youel Murray Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2015
 

Axel Chartered Accountants
3 Minshull Street
Knutsford
Cheshire
WA16 6HG

Youel Murray Ltd
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Youel Murray Ltd
for the Year Ended 31 March 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Youel Murray Ltd for the year ended 31 March 2015 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Youel Murray Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Youel Murray Ltd and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Youel Murray Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Youel Murray Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Youel Murray Ltd. You consider that Youel Murray Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Youel Murray Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Axel Chartered Accountants
3 Minshull Street
Knutsford
Cheshire
WA16 6HG

17 March 2016

Page 1

Youel Murray Ltd
(Registration number: 02265543)
Abbreviated Balance Sheet at 31 March 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					1,496			1,995
Current assets
Debtors					5,753			12,690
Cash at bank and in hand					23,598			58,721
					29,351			71,411
Creditors: Amounts falling due within one year					(18,702)			(21,744)
Net current assets					10,649			49,667
Net assets					12,145			51,662
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					12,045			51,562
Shareholders' funds					12,145			51,662

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 17 March 2016 and signed on its behalf by:

.........................................
Mrs E Y Murray
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Youel Murray Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

1	Accounting policies

Basis of preparation

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

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:

Asset class	Depreciation method and rate
Fixtures and fittings	25% reducing balance
Computer equipment	25% reducing balance

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

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 3

Youel Murray Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 April 2014		52,118			52,118
At 31 March 2015		52,118			52,118
Depreciation
At 1 April 2014		50,123			50,123
Charge for the year		499			499
At 31 March 2015		50,622			50,622
Net book value
At 31 March 2015		1,496			1,496
At 31 March 2014		1,995			1,995

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

Page 4