Abbreviated Company Accounts - MCBRIDE RETAIL LURGAN LIMITED

MCBRIDE RETAIL LURGAN LIMITED - Company Information

Registered Number NI058335

MCBRIDE RETAIL LURGAN LIMITED

Abbreviated Accounts

31 July 2015

MCBRIDE RETAIL LURGAN LIMITED Registered Number NI058335

Abbreviated Balance Sheet as at 31 July 2015

	Notes	2015	2014
		£	£
Fixed assets
Intangible assets	2	227,704	239,704
Tangible assets	3	71,556	71,254
		299,260	310,958
Current assets
Stocks		58,518	65,931
Debtors		253,409	95,716
Cash at bank and in hand		6,706	50,983
		318,633	212,630
Creditors: amounts falling due within one year		(110,308)	(139,621)
Net current assets (liabilities)		208,325	73,009
Total assets less current liabilities		507,585	383,967
Total net assets (liabilities)		507,585	383,967
Capital and reserves
Called up share capital		2	2
Profit and loss account		507,583	383,965
Shareholders' funds		507,585	383,967

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 17 February 2016

And signed on their behalf by:
PETER MCBRIDE, Director

MCBRIDE RETAIL LURGAN LIMITED Registered Number NI058335

Notes to the Abbreviated Accounts for the period ended 31 July 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 represents the total invoice value, excluding value added tax, of sales made during the year.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life as follows:
Fixtures, fittings and equipment 20% reducing balance

Intangible assets amortisation policy
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 25 years.

2Intangible fixed assets

	£
Cost
At 1 August 2014	300,000
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 July 2015	300,000
Amortisation
At 1 August 2014	60,296
Charge for the year	12,000
On disposals	-
At 31 July 2015	72,296
Net book values
At 31 July 2015	227,704
At 31 July 2014	239,704

3Tangible fixed assets

	£
Cost
At 1 August 2014	183,013
Additions	16,641
Disposals	-
Revaluations	-
Transfers	-
At 31 July 2015	199,654
Depreciation
At 1 August 2014	111,759
Charge for the year	16,339
On disposals	-
At 31 July 2015	128,098
Net book values
At 31 July 2015	71,556
At 31 July 2014	71,254