Abbreviated Company Accounts - MASTER TAILOR LIMITED

MASTER TAILOR LIMITED - Company Information

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Registered Number 02587407

MASTER TAILOR LIMITED

Abbreviated Accounts

31 December 2015

MASTER TAILOR LIMITED Registered Number 02587407

Abbreviated Balance Sheet as at 31 December 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	1,871	2,696
		1,871	2,696
Current assets
Stocks		236	161
Debtors		16,074	11,966
Cash at bank and in hand		12	577
		16,322	12,704
Creditors: amounts falling due within one year	3	(17,052)	(17,549)
Net current assets (liabilities)		(730)	(4,845)
Total assets less current liabilities		1,141	(2,149)
Creditors: amounts falling due after more than one year	3	-	(1,900)
Total net assets (liabilities)		1,141	(4,049)
Capital and reserves
Called up share capital	4	1,000	1,000
Profit and loss account		141	(5,049)
Shareholders' funds		1,141	(4,049)

For the year ending 31 December 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 20 September 2016

And signed on their behalf by:
H L Rose, Director

MASTER TAILOR LIMITED Registered Number 02587407

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

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts are prepared under the historical cost convention and the Financial Reporting Standards for Smaller Entities (effective 2015) (the FRSSE).

Going concern
The accounts have been prepared on a going concern basis which the director considers appropriate.

Turnover
Turnover represents amounts receivable for goods and services net of VAT.

Depreciation
Depreciation of tangible fixed assets is provided on cost over their estimated useful lives. The annual rates and methods of depreciation are as follows:-
Fixtures, fittings and equipment 20%-33.3% reducing balance basis

Stock
Stock is valued at the lower of cost and net realisable value.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed by the balance sheet date. Deferred tax is not recognised when assets are revalued unless, by the balance sheet date, the company has entered into a binding agreement to sell the assets and recognised the gains or losses expected to arise on sale.

2Tangible fixed assets

	£
Cost
At 1 January 2015	15,618
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 December 2015	15,618
Depreciation
At 1 January 2015	12,922
Charge for the year	825
On disposals	-
At 31 December 2015	13,747
Net book values
At 31 December 2015	1,871
At 31 December 2014	2,696

3Creditors

	2015 £	2014 £
Secured Debts	4,542	4,256

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

	2015 £	2014 £
1,000 Ordinary shares of £1 each	1,000	1,000

5Transactions with directors

Name of director receiving advance or credit:	H L Rose
Description of the transaction:	Interest free loan
Balance at 1 January 2015:	£ 6,411
Advances or credits made:	£ 45,625
Advances or credits repaid:	£ 36,960
Balance at 31 December 2015:	£ 15,076