Abbreviated Company Accounts - MARK HARRIS FURNITURE LIMITED

MARK HARRIS FURNITURE LIMITED - Company Information

05578652 MARK HARRIS FURNITURE LIMITED 2015-10-31 false 2014-11-01 2015-10-31 true 05578652 2014-11-01 2015-10-31 05578652 2015-10-31 05578652 2014-10-31 05578652 uk-gaap-cd-bus:Director1 2014-11-01 2015-10-31 05578652 uk-gaap-cd-bus:Director2 2014-11-01 2015-10-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-11-01 2015-10-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-10-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-10-31 uk-gaap-cd-bus:OrdinaryShareClass2 2014-11-01 2015-10-31 uk-gaap-cd-bus:OrdinaryShareClass2 2015-10-31 uk-gaap-cd-bus:OrdinaryShareClass2 2014-10-31 iso4217:GBP shares

Registered Number 05578652

MARK HARRIS FURNITURE LIMITED

Abbreviated Accounts

31 October 2015

MARK HARRIS FURNITURE LIMITED Registered Number 05578652

Abbreviated Balance Sheet as at 31 October 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	47,150	41,288
		47,150	41,288
Current assets
Stocks		1,368,625	948,560
Debtors		231,494	30,430
Cash at bank and in hand		757,964	379,569
		2,358,083	1,358,559
Creditors: amounts falling due within one year	3	(1,312,664)	(747,441)
Net current assets (liabilities)		1,045,419	611,118
Total assets less current liabilities		1,092,569	652,406
Creditors: amounts falling due after more than one year	3	(287,413)	(67,223)
Total net assets (liabilities)		805,156	585,183
Capital and reserves
Called up share capital	4	110	100
Profit and loss account		805,046	585,083
Shareholders' funds		805,156	585,183

For the year ending 31 October 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 25 July 2016

And signed on their behalf by:
J Harris, Director

MARK HARRIS FURNITURE LIMITED Registered Number 05578652

Notes to the Abbreviated Accounts for the period ended 31 October 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
Turnover represents the total invoice value, excluding value added tax, of sales made during the year and derives from the provision of goods falling within the company's ordinary activities.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
Plant and machinery - 25% reducing-balance
Fixtures, fittings and equipment - 25% reducing-balance
Motor vehicles - 25% reducing-balance
Website cost - straight-line over 6 years

Other accounting policies
Stock
Stock is valued at the lower of cost and net realisable value.
Pensions
The pension costs charged in the financial statements represent the contribution payable by the company during the year.
The regular cost of providing retirement pensions and related benefits is charged to the profit and loss account over the employees' service lives on the basis of a constant percentage of earnings.

Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange prevailing at the accounting date. Transactions in foreign currencies are recorded at the date of the transactions. All differences are taken to the Profit and Loss account.

2Tangible fixed assets

	£
Cost
At 1 November 2014	65,493
Additions	36,435
Disposals	(25,143)
Revaluations	-
Transfers	-
At 31 October 2015	76,785
Depreciation
At 1 November 2014	24,205
Charge for the year	11,716
On disposals	(6,286)
At 31 October 2015	29,635
Net book values
At 31 October 2015	47,150
At 31 October 2014	41,288

3Creditors

	2015 £	2014 £
Secured Debts	67,223	140,556

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

	2015 £	2014 £
100 Ordinary shares of £1 each	100	100
10 A Ordinary shares of £1 each (0 shares for 2014)	10	0