Marble Ideas Limited - Abbreviated accounts 16.1
Marble Ideas Limited - Abbreviated accounts 16.1
| REGISTERED NUMBER: |
| Abbreviated Unaudited Accounts |
| for the Year Ended 31 May 2016 |
| for |
| Marble Ideas Limited |
| Marble Ideas Limited (Registered number: 02710610) |
| Contents of the Abbreviated Accounts |
| for the Year Ended 31 May 2016 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 4 |
| Chartered Certified Accountants' Report | 6 |
| Marble Ideas Limited |
| Company Information |
| for the Year Ended 31 May 2016 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| Marble Ideas Limited (Registered number: 02710610) |
| Abbreviated Balance Sheet |
| 31 May 2016 |
| 31.5.16 | 31.5.15 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 2 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 3 |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| The director acknowledges his responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| Marble Ideas Limited (Registered number: 02710610) |
| Abbreviated Balance Sheet - continued |
| 31 May 2016 |
| The financial statements were approved by the director on |
| Marble Ideas Limited (Registered number: 02710610) |
| Notes to the Abbreviated Accounts |
| for the Year Ended 31 May 2016 |
| 1. | ACCOUNTING POLICIES |
| Accounting convention |
| 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 |
| Turnover represents sales of goods net of VAT and trade discounts. Turnover is recognised when the |
| risks and rewards of ownership of goods have been transferred to the customer. The risks and |
| rewards of ownership of goods are deemed to have been transferred when the goods are shipped |
| to, or are picked up by, the customer. |
| Tangible fixed assets |
| Land and Buildings | - |
| Short leasehold | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Stocks |
| Stock is valued at the lower of cost and net realisable value. Cost is determined on a first in first out. |
| Net realisable value represents estimated selling price less costs to complete or sell. Provision is |
| made for slow moving, obsolete or damaged stock where the net realisable value is less than the |
| cost. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed |
| at the balance sheet date.Deferred taxation 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 right to pay less or to receive |
| more, tax, with the following exceptions: |
| A deferred tax asset is regarded as recoverable and therefore recognised only when, on the basis of |
| all evidence, it can be regarded as likely that there will be suitable taxable profits from which the |
| future reversal of the underlying timing differences can be deducted. |
| Deferred tax is measured on a 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. |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. |
| Those held under hire purchase contracts are depreciated over their estimated useful lives. Those |
| held under finance leases are depreciated over their estimated useful lives or the lease term, |
| whichever is the shorter. |
| The interest element of these obligations is charged to the profit and loss account over the relevant |
| period. The capital element of the future payments is treated as a liability. |
| Marble Ideas Limited (Registered number: 02710610) |
| Notes to the Abbreviated Accounts - continued |
| for the Year Ended 31 May 2016 |
| 1. | ACCOUNTING POLICIES - continued |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the |
| company's pension scheme are charged to the profit and loss account in the period to which they |
| relate. |
| 2. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 June 2015 |
| Additions |
| Disposals | ( |
) |
| At 31 May 2016 |
| DEPRECIATION |
| At 1 June 2015 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 May 2016 |
| NET BOOK VALUE |
| At 31 May 2016 |
| At 31 May 2015 |
| 3. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.5.16 | 31.5.15 |
| value: | £ | £ |
| Ordinary | £1 |
| Chartered Certified Accountants' Report to the Director |
| on the Unaudited Financial Statements of |
| Marble Ideas Limited |
| The following reproduces the text of the report prepared for the director in respect of the company's |
| annual unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages |
| two to five) have been prepared. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your |
| approval the financial statements of Marble Ideas Limited for the year ended 31 May 2016 which comprise |
| the Profit and Loss Account, the Balance Sheet, and the related notes from the company's accounting |
| records and from information and explanations you have given us. |
| As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook. |
| This report is made solely to the director of Marble Ideas Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Marble Ideas Limited and state those matters that we have agreed to state to the director of Marble Ideas Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report. |
| It is your duty to ensure that Marble Ideas Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Marble Ideas Limited. You consider that Marble Ideas Limited is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of Marble Ideas Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| Chartered Certified Accountants |
| 12 December 2016 |