ANGELA MURFITT FINANCIAL MANAGEMENT LIMITED Small abbreviated accounts

ANGELA MURFITT FINANCIAL MANAGEMENT LIMITED Small abbreviated accounts

ANGELA MURFITT FINANCIAL MANAGEMENT LIMITED - Company Information

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FY Private Limited Company Company accounts 2016-12-20 2016-12-20 false true false false false false false false false false false false true true 2015-04-01 true xbrli:pure xbrli:shares iso4217:GBP 05095364 2015-04-01 2016-03-31 05095364 2016-03-31 05095364 2015-03-31 05095364 2014-04-01 2015-03-31 05095364 2015-03-31 05095364 uk-gaap:PlantMachinery 2015-04-01 2016-03-31 05095364 uk-gaap:FixturesFittings 2015-04-01 2016-03-31 05095364 uk-bus:OrdinaryShareClass1 2015-04-01 2016-03-31 05095364 uk-bus:OrdinaryShareClass2 2015-04-01 2016-03-31 05095364 uk-bus:Director1 2015-04-01 2016-03-31 05095364 uk-gaap:AllSubsidiaries 2015-04-01 2016-03-31 05095364 uk-bus:OrdinaryShareClass1 2016-03-31 05095364 uk-bus:OrdinaryShareClass1 2015-03-31 05095364 uk-bus:OrdinaryShareClass2 2016-03-31 05095364 uk-bus:OrdinaryShareClass2 2015-03-31 05095364 uk-lang:English 2015-04-01 2016-03-31 05095364 uk-curr:PoundSterling 2015-04-01 2016-03-31
COMPANY REGISTRATION NUMBER 05095364
ANGELA MURFITT FINANCIAL MANAGEMENT LIMITED
UNAUDITED ABBREVIATED ACCOUNTS
31 March 2016
ANGELA MURFITT FINANCIAL MANAGEMENT LIMITED
ABBREVIATED BALANCE SHEET
31 March 2016
2016
2015
Note
£
£
£
Fixed assets
2
Tangible assets
432
627
----
----
Current assets
Debtors
468
5,200
Cash at bank and in hand
12,446
5,086
--------
--------
12,914
10,286
Creditors: Amounts falling due within one year
( 5,063)
( 2,853)
--------
--------
Net current assets
7,851
7,433
-------
-------
Total assets less current liabilities
8,283
8,060
Provisions for liabilities
( 87)
( 126)
-------
-------
8,196
7,934
-------
-------
Capital and reserves
Called up equity share capital
3
101
101
Profit and loss account
8,095
7,833
-------
-------
Shareholders' funds
8,196
7,934
-------
-------
For the year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their 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 by the directors and authorised for issue on 18 December 2016 , and are signed on their behalf by:
A Murfitt Director
Company Registration Number: 05095364
ANGELA MURFITT FINANCIAL MANAGEMENT LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
YEAR ENDED 31 MARCH 2016
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 amounts invoiced 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:
Plant & Machinery-33% Reducing Balance
Fixtures & Fittings-25% Reducing Balance
Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.
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, with the following exceptions:
Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments) of fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose of the assets concerned. However, no provision is made where, on the basis of all available evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled over into replacement assets and charged to tax only where the replacement assets are sold.
Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not 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 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.
2. Fixed assets
Tangible Assets
£
Cost
At 1 April 2015 and 31 March 2016
9,066
-------
Depreciation
At 1 April 2015
8,439
Charge for year
195
-------
At 31 March 2016
8,634
-------
Net book value
At 31 March 2016
432
----
At 31 March 2015
627
----
3. Share capital
Allotted, called up and fully paid:
2016
2015
No.
£
No.
£
Ordinary A shares shares of £ 1 each
66
66
66
66
Ordinary B shares shares of £ 1 each
35
35
35
35
----
----
----
----
101
101
101
101
----
----
----
----
4. Transactions with Directors
The following directors had interest free loans during the year. The movements on these loans are as follows:
Amount owing 2016
Amount owing 2015
Maximum in year
£
£
£
Mr and Mrs Murfitt
–
4,737
13,660