Hal Morganson Limited - Period Ending 2016-09-30

Registration number: 06360724

Hal Morganson Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 September 2016
 

Hal Morganson Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Hal Morganson Limited
(Registration number: 06360724)
Abbreviated Balance Sheet at 30 September 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					355,000			355,000
Current assets
Debtors					271			266
Creditors: Amounts falling due within one year					(720)			(721)
Net current liabilities					(449)			(455)
Total assets less current liabilities					354,551			354,545
Creditors: Amounts falling due after more than one year					(543,261)			(541,413)
Net liabilities					(188,710)			(186,868)
Capital and reserves
Called up share capital		3			100			100
Revaluation reserve					(160,083)			(160,083)
Profit and loss account					(28,727)			(26,885)
Shareholders' deficit					(188,710)			(186,868)

For the year ending 30 September 2016 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 director acknowledges his 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 director on 14 March 2017

D T Hartley
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Hal Morganson Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Going concern

The financial statements have been prepared on a going concern basis.

Turnover

Turnover represents net rents received, excluding value added tax.

Investment properties

Certain of the company's properties are held for long-term investment. Investment properties are accounted for in accordance with the FRSSE, as follows: No depreciation is provided in respect of investment properties and they are revalued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year. This treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 October 2015		355,000			355,000
At 30 September 2016		355,000			355,000
Depreciation
At 30 September 2016		-			-
Net book value
At 30 September 2016		355,000			355,000
At 30 September 2015		355,000			355,000

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Hal Morganson Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
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3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary of £1 each		100			100			100			100

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Hal Morganson Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
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