Abbreviated Company Accounts - MAJORSPEED LIMITED

MAJORSPEED LIMITED - Company Information

02041062 MAJORSPEED LIMITED 2015-03-31 false 2014-04-01 2015-03-31 true 02041062 2014-04-01 2015-03-31 02041062 2015-03-31 02041062 2014-03-31 02041062 uk-gaap-cd-bus:Director1 2014-04-01 2015-03-31 02041062 uk-gaap-cd-bus:Director2 2014-04-01 2015-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-04-01 2015-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-03-31 iso4217:GBP shares

Registered Number 02041062

MAJORSPEED LIMITED

Abbreviated Accounts

31 March 2015

MAJORSPEED LIMITED Registered Number 02041062

Abbreviated Balance Sheet as at 31 March 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	467,113	467,113
		467,113	467,113
Current assets
Debtors		387,969	399,223
Cash at bank and in hand		22,407	6,326
		410,376	405,549
Creditors: amounts falling due within one year		(662,015)	(659,611)
Net current assets (liabilities)		(251,639)	(254,062)
Total assets less current liabilities		215,474	213,051
Creditors: amounts falling due after more than one year		(91,437)	(98,319)
Total net assets (liabilities)		124,037	114,732
Capital and reserves
Called up share capital	3	2	2
Profit and loss account		124,035	114,730
Shareholders' funds		124,037	114,732

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 18 May 2016

And signed on their behalf by:
BARRY FELDMAN, Director

MAJORSPEED LIMITED Registered Number 02041062

Notes to the Abbreviated Accounts for the period ended 31 March 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
The turnover in the accounts consists solely of rental income.

Other accounting policies
Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

2Tangible fixed assets

	£
Cost
At 1 April 2014	467,113
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2015	467,113
Depreciation
At 1 April 2014	-
Charge for the year	-
On disposals	-
At 31 March 2015	-
Net book values
At 31 March 2015	467,113
At 31 March 2014	467,113

All fixed assets are initially recorded at cost.

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

	2015 £	2014 £
2 Ordinary shares of £1 each	2	2