Abbreviated Company Accounts - MASTER TAILOR LIMITED

MASTER TAILOR LIMITED - Company Information

02587407 MASTER TAILOR LIMITED 2013-12-31 false 2013-01-01 2013-12-31 true 02587407 2013-01-01 2013-12-31 02587407 2013-12-31 02587407 2012-12-31 02587407 uk-gaap-cd-bus:Director1 2013-01-01 2013-12-31 02587407 uk-gaap-cd-bus:Director2 2013-01-01 2013-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-01-01 2013-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2012-12-31 iso4217:GBP shares

Registered Number 02587407

MASTER TAILOR LIMITED

Abbreviated Accounts

31 December 2013

MASTER TAILOR LIMITED Registered Number 02587407

Abbreviated Balance Sheet as at 31 December 2013

	Notes	2013	2012
		£	£
Fixed assets
Tangible assets	2	3,690	5,395
		3,690	5,395
Current assets
Stocks		2,740	4,190
Debtors		14,559	33,266
Cash at bank and in hand		10,134	2,300
		27,433	39,756
Creditors: amounts falling due within one year	3	(25,840)	(43,651)
Net current assets (liabilities)		1,593	(3,895)
Total assets less current liabilities		5,283	1,500
Creditors: amounts falling due after more than one year	3	(4,253)	-
Total net assets (liabilities)		1,030	1,500
Capital and reserves
Called up share capital	4	1,000	1,000
Profit and loss account		30	500
Shareholders' funds		1,030	1,500

For the year ending 31 December 2013 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 26 September 2014

And signed on their behalf by:
H L ROSE, Director

MASTER TAILOR LIMITED Registered Number 02587407

Notes to the Abbreviated Accounts for the period ended 31 December 2013

1Accounting Policies

Basis of measurement and preparation of accounts
Basis of preparation

The accounts are prepared under the historical cost convention and in accordance with applicable accounting standards.

Cash flow statement

The company qualifies as a small company under the Companies Act 2006. The directors have elected to take advantage of the exemption under FRS1 not to prepare a cash flow statement.

Turnover

Turnover represents amounts receivable for goods and services net of VAT.

Depreciation

Depreciation of tangible fixed assets is provided on cost over their estimated useful lives. The annual rates and methods of depreciation are as follows:-

Fixtures, fittings and equipment 20 - 33.3% reducing balance basis

Stocks

Stock is valued at the lower of cost and net realisable value.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed by the balance sheet date. Deferred tax is not recognised when assets are revalued unless, by the balance sheet date, the company has entered into a binding agreement to sell the assets and recognised the gains or losses expected to arise on sale.

2Tangible fixed assets

	£
Cost
At 1 January 2013	16,813
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 December 2013	16,813
Depreciation
At 1 January 2013	11,418
Charge for the year	1,705
On disposals	-
At 31 December 2013	13,123
Net book values
At 31 December 2013	3,690
At 31 December 2012	5,395

3Creditors

	2013 £	2012 £
Secured Debts	6,447	14,666

4Called Up Share Capital
Allotted, called up and fully paid:

	2013 £	2012 £
1,000 Ordinary shares of £1 each	1,000	1,000