Morgan Banks Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 04007460

Abbreviated Unaudited Accounts

for the Year Ended 31 August 2015

for

Morgan Banks Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

M Banks

Mrs R Banks

SECRETARY:

Mrs R Banks

REGISTERED OFFICE:

Handley Lodge Farm

Handley Lane

Handley

S45 9AT

REGISTERED NUMBER:

04007460

ACCOUNTANTS:

Camplejohn Rowan

CFC House

Acorn Business Park

Woodseats Close

Sheffield

South Yorkshire

S8 0TB

FIXED ASSETS

Tangible assets

2

1,352

1,804

CURRENT ASSETS

Cash at bank

83

2,383

CREDITORS

Amounts falling due within one year

3

(35,019

)

(29,915

)

NET CURRENT LIABILITIES

(34,936

)

(27,532

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(33,584

)

(25,728

)

CREDITORS

Amounts falling due after more than one year

3

(14,875

)

(19,534

)

NET LIABILITIES

(48,459

)

(45,262

)

CAPITAL AND RESERVES

Called up share capital

4

2

Profit and loss account

(48,461

)

(45,264

)

SHAREHOLDERS' FUNDS

(48,459

)

(45,262

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2015 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 24 May 2016 and were signed on its behalf by:

M Banks - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2014

and 31 August 2015

8,912

DEPRECIATION

At 1 September 2014

7,108

Charge for year

452

At 31 August 2015

7,560

NET BOOK VALUE

At 31 August 2015

1,352

At 31 August 2014

1,804

3.

CREDITORS

Creditors include an amount of £ 19,516 (31.8.14 - £ 24,103 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.15

31.8.14

value:

£

2

Ordinary

£1

2

5.	ULTIMATE CONTROLLING PARTY

The ultimate controlling parties are the directors by virtue of their 100% holding of the voting share capital.