MORGAN_HAYNES_LIMITED - Accounts

MORGAN HAYNES LIMITED - Company Information

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Company Registration No. 06690011 (England and Wales)

MORGAN HAYNES LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2016

MORGAN HAYNES LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

MORGAN HAYNES LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 SEPTEMBER 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

702

344

Current assets

Debtors

8,334

5,179

Cash at bank and in hand

15,679

18,925

24,013

24,104

Creditors: amounts falling due within one year

(24,129)

(22,121)

Net current liabilities/(assets)

(116)

1,983

Total assets less current liabilities

586

2,327

Provisions for liabilities

(140)

(69)

446

2,258

Capital and reserves

Called up share capital

100

Profit and loss account

346

2,158

Shareholders' funds

446

2,258

For the financial year ended 30 September 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 12 March 2017

R Haynes

Director

Company Registration No. 06690011

MORGAN HAYNES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

The director is not aware of any material uncertainties affecting the company and considers that the company will have sufficient resources to continue trading for the foreseeable future. As a result the director has continued to adopt the going concern basis in preparing the financial statements.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for services supplied net of VAT.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

15% reducing balance

1.5

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to the profit and loss account.

Fixed assets

Tangible assets

Cost

At 1 October 2015

628

Additions

482

At 30 September 2016

1,110

Depreciation

At 1 October 2015

284

Charge for the year

124

At 30 September 2016

408

Net book value

At 30 September 2016

702

At 30 September 2015

344

MORGAN HAYNES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2016

- 3 -

Share capital

2016

2015

Allotted, called up and fully paid

100 Ordinary shares of £1 each

100

Related party relationships and transactions

Loan to the director

Transactions in relation to a loan to the director during the year are outlined in the table below:

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

R Haynes -

3,829

95,573

96,258

3,144

3,829

95,573

96,258

3,144

The maximum amount during the year the loan account to Mr R Haynes went overdrawn was £9,895.