Abbreviated Company Accounts - CORNWELL MCKEOWN ASSOCIATES LIMITED

CORNWELL MCKEOWN ASSOCIATES LIMITED - Company Information

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Registered Number 07794291

CORNWELL MCKEOWN ASSOCIATES LIMITED

Abbreviated Accounts

31 October 2015

CORNWELL MCKEOWN ASSOCIATES LIMITED Registered Number 07794291

Abbreviated Balance Sheet as at 31 October 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	2,939	2,886
		2,939	2,886
Current assets
Debtors		75,260	123,971
Cash at bank and in hand		2,380	5,742
		77,640	129,713
Creditors: amounts falling due within one year		(23,745)	(30,496)
Net current assets (liabilities)		53,895	99,217
Total assets less current liabilities		56,834	102,103
Provisions for liabilities		(588)	(577)
Total net assets (liabilities)		56,246	101,526
Capital and reserves
Called up share capital	3	10	10
Profit and loss account		56,236	101,516
Shareholders' funds		56,246	101,526

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 31 July 2016

And signed on their behalf by:
M Cornwell-McKeown, Director

CORNWELL MCKEOWN ASSOCIATES LIMITED Registered Number 07794291

Notes to the Abbreviated Accounts for the period ended 31 October 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts are 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 services supplied by the company during the year.

Turnover is recognised to the extent that the company obtains the right to consideration as contract activity progresses.

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:

Fixtures, fittings and equipment - 25% - 33% straight line

2Tangible fixed assets

	£
Cost
At 1 November 2014	6,649
Additions	2,374
Disposals	-
Revaluations	-
Transfers	-
At 31 October 2015	9,023
Depreciation
At 1 November 2014	3,763
Charge for the year	2,321
On disposals	-
At 31 October 2015	6,084
Net book values
At 31 October 2015	2,939
At 31 October 2014	2,886

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

	2015 £	2014 £
10 Ordinary shares of £1 each	10	10

4Transactions with directors

Name of director receiving advance or credit:	M Cornwell-McKeown
Description of the transaction:	Director's loan account
Balance at 1 November 2014:	£ 123,038
Advances or credits made:	£ 75,248
Advances or credits repaid:	£ 125,100
Balance at 31 October 2015:	£ 73,186

These advances were unsecured, interest free, and repayable on demand.