Magnus James Ltd - Abbreviated accounts 16.1

REGISTERED NUMBER: 07792928 (England and Wales)

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2015

FOR

MAGNUS JAMES LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

to

3

Notes to the Abbreviated Accounts

4

DIRECTORS:

P J Slattery

J C Vercesi

REGISTERED OFFICE:

Brent House

382 Gloucester Road

Cheltenham

Gloucestershire

GL51 7AY

REGISTERED NUMBER:

07792928 (England and Wales)

ACCOUNTANTS:

Smith Heath Limited

Brent House

382 Gloucester Road

Cheltenham

Gloucestershire

GL51 7AY

FIXED ASSETS

Tangible assets

2

2,516

1,623

CURRENT ASSETS

Debtors

74,918

48,483

Cash at bank

38,964

31,401

113,882

79,884

CREDITORS

Amounts falling due within one year

90,540

72,463

NET CURRENT ASSETS

23,342

7,421

TOTAL ASSETS LESS CURRENT
LIABILITIES

25,858

9,044

CREDITORS

Amounts falling due after more than one
year

(18,402

)

-

PROVISIONS FOR LIABILITIES

(503

)

(325

)

NET ASSETS

6,953

8,719

CAPITAL AND RESERVES

Called up share capital

3

300

Profit and loss account

6,653

8,419

SHAREHOLDERS' FUNDS

6,953

8,719

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 21 June 2016 and were signed on its behalf by:

J C Vercesi - 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 April 2008).

Turnover

Turnover represents the total invoice value, excluding value added tax, of sales made during the year and derives

from the provision of services falling within the company's ordinary activities.

Tangible fixed assets

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

Fixtures, fittings and equipment

-

33% on cost

Deferred tax

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

sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2014

2,740

Additions

1,973

At 30 September 2015

4,713

DEPRECIATION

At 1 October 2014

1,117

Charge for year

1,080

At 30 September 2015

2,197

NET BOOK VALUE

At 30 September 2015

2,516

At 30 September 2014

1,623

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

200

Ordinary A

£1

200

100

Ordinary B

£1

100

300