Company Registration No. 1633315 (England and Wales)
Mason Morley Limited
Abbreviated unaudited accounts
for the year ended 31 May 2016
Mason Morley Limited
Abbreviated Balance Sheet
as at 31 May 2016
Tangible assets
143,634
119,098
Cash at bank and in hand
338,666
347,095
Creditors: amounts falling due within one year
(151,400)
(174,378)
Net current assets
484,349
488,380
Total assets less current liabilities
627,983
607,478
Provisions for liabilities
(8,200)
(2,200)
Net assets
619,783
605,278
Called up share capital
101
101
Revaluation reserve
66,743
66,743
Profit and loss account
549,440
534,935
Total shareholders' funds
619,783
605,278
For the year ending 31 May 2016 the company was entitled to exemption from audit 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 and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Approved by the board on 8 July 2016
Mr S J Mason
Director
Company Registration No. 1633315
Mason Morley Limited
Notes to the Abbreviated Accounts
for the year ended 31 May 2016
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirement to prepare such a statement under the Financial Reporting Standard for Smaller Entities (effective April 2008).
Contributions in respect of the company's defined contribution pension scheme are charged to the profit and loss account for the year in which they are payable to the scheme. Differences between contributions payable and contributions actually paid in the year are shown as either accruals or prepayments at the year end.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
2% per annum on cost
Motor vehicles
25% per annum on cost
Fixtures & fittings
25% per annum on cost
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset.
Deferred tax assets and liabilities are not discounted.
Mason Morley Limited
Notes to the Abbreviated Accounts
for the year ended 31 May 2016
2
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Total
At 1 June 2015
145,456
62,004
40,650
248,110
Additions
-
-
44,135
44,135
Disposals
-
-
(18,200)
(18,200)
At 31 May 2016
145,456
62,004
66,585
274,045
At 1 June 2015
40,644
62,003
26,365
129,012
Charge for the year
2,904
-
9,895
12,799
On disposals
-
-
(11,400)
(11,400)
At 31 May 2016
43,548
62,003
24,860
130,411
At 31 May 2016
101,908
1
41,725
143,634
At 31 May 2015
104,812
1
14,285
119,098
Allotted, called up and fully paid:
101 Ordinary shares of £1 each
101
101
