Matthew Parratt Associates Limited Small abbreviated accounts

Matthew Parratt Associates Limited Small abbreviated accounts

MATTHEW PARRATT ASSOCIATES LIMITED - Company Information

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FY Private Limited Company Company accounts 2016-09-28 2016-09-28 false true false false false false false false false false false false true true 2015-01-01 true xbrli:pure xbrli:shares iso4217:GBP 08830548 2015-01-01 2015-12-31 08830548 2015-12-31 08830548 2014-12-31 08830548 2014-12-31 08830548 uk-gaap:OfficeEquipment 2015-01-01 2015-12-31 08830548 uk-bus:OrdinaryShareClass1 2015-01-01 2015-12-31 08830548 uk-bus:Director1 2015-01-01 2015-12-31 08830548 uk-gaap:AllSubsidiaries 2015-01-01 2015-12-31 08830548 uk-bus:OrdinaryShareClass1 2015-12-31 08830548 uk-bus:OrdinaryShareClass1 2014-12-31 08830548 uk-lang:English 2015-01-01 2015-12-31 08830548 uk-curr:PoundSterling 2015-01-01 2015-12-31
Company Registration Number 08830548
Matthew Parratt Associates Limited
Unaudited Abbreviated Accounts
31 December 2015
Matthew Parratt Associates Limited
Abbreviated Balance Sheet
31 December 2015
2015
2014
Note
£
£
£
Fixed Assets
2
Tangible assets
33
67
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Current Assets
Stocks
1,000
4,350
Debtors
18,842
11,846
Cash at bank and in hand
12,247
1,088
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--------
32,089
17,284
Creditors: Amounts Falling due Within One Year
( 17,294)
( 10,424)
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--------
Net Current Assets
14,795
6,860
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Total Assets Less Current Liabilities
14,828
6,927
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-------
Capital and Reserves
Called up equity share capital
4
100
100
Profit and loss account
14,728
6,827
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-------
Shareholders' Funds
14,828
6,927
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-------
For the year ended 31st December 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These abbreviated accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime.
These abbreviated accounts were approved and signed by the director and authorised for issue on 28 September 2016 .
D M Parratt Director
Company Registration Number: 08830548
Matthew Parratt Associates Limited
Notes to the Abbreviated Accounts
Year Ended 31st December 2015
1. Accounting Policies
Basis of Accounting
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Turnover
The turnover shown in the profit and loss account represents the value of work done during the year.
Fixed Assets
All fixed assets are initially recorded at cost.
Depreciation
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:
Equipment-33.33% straight line per annum
Work in Progress
Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.
Deferred Taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax.
Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Financial Instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
2. Fixed Assets
Tangible Assets
£
Cost
At 1st January 2015 and 31st December 2015
100
----
Depreciation
At 1st January 2015
33
Charge for year
34
----
At 31st December 2015
67
----
Net Book Value
At 31st December 2015
33
----
At 31st December 2014
67
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3. Related Party Transactions
The company was under the control of Mr D M Parratt throughout the current year. Mr D M Parratt is the managing director and majority shareholder. During the year the director provided the company with a loan, the amount outstanding at the balance sheet date was £ 9,202 (2014:£196 ). This loan is provided interest free and has no formal repayment terms. During the year expenses were paid on behalf of Conbrio Construction Limited,a company of which D M Parratt is sole director and shareholder, totalling £12,646 (2014:£5,146). At the balance sheet date this amount is still owing.
4. Share Capital
Allotted, called up and fully paid:
2015
2014
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
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