Abbreviated Company Accounts - MACDERMOTT'S ARGENTINA LIMITED

MACDERMOTT'S ARGENTINA LIMITED - Company Information

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Registered Number 07756846

MACDERMOTT'S ARGENTINA LIMITED

Abbreviated Accounts

31 August 2015

MACDERMOTT'S ARGENTINA LIMITED Registered Number 07756846

Abbreviated Balance Sheet as at 31 August 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	1,425	2,058
		1,425	2,058
Current assets
Debtors		59,276	3,834
Cash at bank and in hand		9,327	9,160
		68,603	12,994
Creditors: amounts falling due within one year		(63,152)	(2,981)
Net current assets (liabilities)		5,451	10,013
Total assets less current liabilities		6,876	12,071
Total net assets (liabilities)		6,876	12,071
Capital and reserves
Called up share capital	3	10,000	10,000
Profit and loss account		(3,124)	2,071
Shareholders' funds		6,876	12,071

For the year ending 31 August 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 31 March 2016

And signed on their behalf by:
Hugh MacDermott, Director

MACDERMOTT'S ARGENTINA LIMITED Registered Number 07756846

Notes to the Abbreviated Accounts for the period ended 31 August 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 comprises revenue recognised by the company in respect of services provided to customers for tour bookings to Argentina during the year, exclusive of Value Added Tax and trade discounts.

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 value, over their expected useful lives on the following bases:

Plant & machinery - 25% striaght line

Valuation information and policy
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.

Other accounting policies
The Director believe that the Company has adequate financial resources to continue in operational existence for the foreseeable future and meet its liabilities and obligations as they fall due. Therefore, the Director continue to adopt the going concern bases of accounting in preparing the financial statements.

2Tangible fixed assets

	£
Cost
At 1 September 2014	2,533
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 August 2015	2,533
Depreciation
At 1 September 2014	475
Charge for the year	633
On disposals	-
At 31 August 2015	1,108
Net book values
At 31 August 2015	1,425
At 31 August 2014	2,058

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

	2015 £	2014 £
8,000 A Ordinary shares of £1 each	8,000	8,000
2,000 B Ordinary shares of £1 each	2,000	2,000