Abbreviated Company Accounts - MARGARET LEE LIMITED

MARGARET LEE LIMITED - Company Information

05817686 MARGARET LEE LIMITED 2015-12-31 false 2015-01-01 2015-12-31 true 05817686 2015-01-01 2015-12-31 05817686 2015-12-31 05817686 2014-12-31 05817686 uk-gaap-cd-bus:Director1 2015-01-01 2015-12-31 05817686 uk-gaap-cd-bus:Director2 2015-01-01 2015-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-01-01 2015-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-12-31 iso4217:GBP shares

Registered Number 05817686

MARGARET LEE LIMITED

Abbreviated Accounts

31 December 2015

MARGARET LEE LIMITED Registered Number 05817686

Abbreviated Balance Sheet as at 31 December 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	2,286	3,467
		2,286	3,467
Current assets
Stocks		16,475	17,850
Debtors		30,084	64,399
		46,559	82,249
Creditors: amounts falling due within one year		(42,495)	(80,391)
Net current assets (liabilities)		4,064	1,858
Total assets less current liabilities		6,350	5,325
Total net assets (liabilities)		6,350	5,325
Capital and reserves
Called up share capital	3	100	100
Profit and loss account		6,250	5,225
Shareholders' funds		6,350	5,325

For the year ending 31 December 2015 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 30 January 2017

And signed on their behalf by:
C Monk, Director

MARGARET LEE LIMITED Registered Number 05817686

Notes to the Abbreviated Accounts for the period ended 31 December 2015

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
The turnover shown in the profit and loss account represents amounts invoiced during the period,
exclusive of Value Added Tax.

Tangible assets depreciation policy
All fixed assets are initially recorded at cost.
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:
Leasehold Property - Over 5 years
Equipment - Over 3 years

Other accounting policies
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for
obsolete and slow moving items.

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.

2Tangible fixed assets

	£
Cost
At 1 January 2015	4,032
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 December 2015	4,032
Depreciation
At 1 January 2015	565
Charge for the year	1,181
On disposals	-
At 31 December 2015	1,746
Net book values
At 31 December 2015	2,286
At 31 December 2014	3,467

3Called Up Share Capital
Allotted, called up and fully paid:

	2015 £	2014 £
100 Ordinary shares of £1 each	100	100