Abbreviated Company Accounts - METCALF ESTATES LIMITED
Abbreviated Company Accounts - METCALF ESTATES LIMITED
Registered Number 04247499
METCALF ESTATES LIMITED
Abbreviated Accounts
30 September 2015
METCALF ESTATES LIMITED Registered Number 04247499
Abbreviated Balance Sheet as at 30 September 2015
Notes | 2015 | 2014 | |
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£ | £ | ||
Fixed assets | |||
Intangible assets | 2 |
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Tangible assets | 3 |
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Current assets | |||
Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
( |
( |
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Net current assets (liabilities) |
( |
( |
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Total assets less current liabilities |
( |
( |
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Creditors: amounts falling due after more than one year |
( |
( |
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Total net assets (liabilities) |
( |
( |
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Capital and reserves | |||
Called up share capital | 4 |
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Profit and loss account |
( |
( |
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Shareholders' funds |
( |
( |
For the year ending 30 September 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
And signed on their behalf by:
METCALF ESTATES LIMITED Registered Number 04247499
Notes to the Abbreviated Accounts for the period ended 30 September 2015
1Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.
In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.
Tangible assets depreciation policy
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Fixtures & Fittings - 33.33% straight line
Motor Vehicles - 25% reducing balance
Equipment - 33.33% straight line
Intangible assets amortisation policy
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Goodwill - 10% straight line
Other accounting policies
Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account on a straight line basis.
Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.
£ | |
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Cost | |
At 1 October 2014 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 30 September 2015 |
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Amortisation | |
At 1 October 2014 |
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Charge for the year |
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On disposals |
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At 30 September 2015 |
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Net book values | |
At 30 September 2015 | 23,316 |
At 30 September 2014 | 23,316 |
£ | |
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Cost | |
At 1 October 2014 |
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Additions |
|
Disposals |
|
Revaluations |
|
Transfers |
|
At 30 September 2015 |
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Depreciation | |
At 1 October 2014 |
|
Charge for the year |
|
On disposals |
|
At 30 September 2015 |
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Net book values | |
At 30 September 2015 | 8,553 |
At 30 September 2014 | 8,553 |