Abbreviated Company Accounts - THE MODEL TEAM LIMITED

Abbreviated Company Accounts - THE MODEL TEAM LIMITED

THE MODEL TEAM LIMITED - Company Information

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Registered Number SC315559

THE MODEL TEAM LIMITED

Abbreviated Accounts

31 January 2014

THE MODEL TEAM LIMITED Registered Number SC315559

Abbreviated Balance Sheet as at 31 January 2014

Notes 2014 2013
£ £
Called up share capital not paid - -
Fixed assets
Intangible assets 2 15,000 15,000
Tangible assets 3 15,071 16,108
Investments - -
30,071 31,108
Current assets
Stocks - -
Debtors 22,451 12,341
Cash at bank and in hand 11,453 12,539
33,904 24,880
Net current assets (liabilities) 33,904 24,880
Total assets less current liabilities 63,975 55,988
Creditors: amounts falling due after more than one year (31,809) (29,281)
Total net assets (liabilities) 32,166 26,707
Capital and reserves
Called up share capital 1 1
Profit and loss account 32,165 26,706
Shareholders' funds 32,166 26,707
  • For the year ending 31 January 2014 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 23 October 2014

And signed on their behalf by:
Michael O'Brien, Director

THE MODEL TEAM LIMITED Registered Number SC315559

Notes to the Abbreviated Accounts for the period ended 31 January 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents net invoiced sales of goods and services , excluding vat.

Tangible assets depreciation policy
Depreciation is provided on all tangible fixed assets at rates calculated to write off the full cost or valuation less estimated residual value of each asset over its estimated useful life.
Principle rates in use are :
Equipment,fixtures & fittings & computers -25% reducing balance

2Intangible fixed assets
£
Cost
At 1 February 2013 15,000
Additions -
Disposals -
Revaluations -
Transfers -
At 31 January 2014 15,000
Amortisation
At 1 February 2013 -
Charge for the year -
On disposals -
At 31 January 2014 -
Net book values
At 31 January 2014 15,000
At 31 January 2013 15,000
3Tangible fixed assets
£
Cost
At 1 February 2013 22,634
Additions -
Disposals -
Revaluations -
Transfers -
At 31 January 2014 22,634
Depreciation
At 1 February 2013 6,526
Charge for the year 1,037
On disposals -
At 31 January 2014 7,563
Net book values
At 31 January 2014 15,071
At 31 January 2013 16,108