Mechanical Mouse Limited - Period Ending 2016-08-31

Registration number: 08673108

Mechanical Mouse Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 August 2016
 

C V Ross & Co Limited
Accountants and Tax Consultants
Unit 1, Office 1
Tower Lane Business Park
Tower Lane
Warmley
Bristol
BS30 8XT

Mechanical Mouse Limited
(Registration number: 08673108)
Abbreviated Balance Sheet at 31 August 2016

		Note			2016 £			2015 £
Fixed assets
Intangible fixed assets					8,000			12,000
Tangible fixed assets					177,218			88,309
					185,218			100,309
Current assets
Stock and work in progress					5,950			5,032
Debtors					98,652			54,270
Cash at bank and in hand					29,737			39,942
					134,339			99,244
Creditors: Amounts falling due within one year					(62,883)			(45,026)
Net current assets					71,456			54,218
Total assets less current liabilities					256,674			154,527
Creditors: Amounts falling due after more than one year					(45,714)			(14,645)
Provisions for liabilities					(33,235)			(15,026)
Net assets					177,725			124,856
Capital and reserves
Called up share capital					10			10
Profit and loss account					177,715			124,846
Shareholders' funds					177,725			124,856

The notes on pages 3 to 5 form an integral part of these financial statements.
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Mechanical Mouse Limited
(Registration number: 08673108)
Abbreviated Balance Sheet at 31 August 2016
......... continued

For the year ending 31 August 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 29 May 2017

.........................................
Mr P O' Connor
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
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Mechanical Mouse Limited
Notes to the Abbreviated Accounts for the Year Ended 31 August 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).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Goodwill	straight line over 5 years

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Tools and Equipment	25% reducing balance

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

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Mechanical Mouse Limited
Notes to the Abbreviated Accounts for the Year Ended 31 August 2016
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Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 September 2015		20,000			127,954			147,954
Additions		-			123,716			123,716
At 31 August 2016		20,000			251,670			271,670
Depreciation
At 1 September 2015		8,000			39,645			47,645
Charge for the year		4,000			34,807			38,807
At 31 August 2016		12,000			74,452			86,452
Net book value
At 31 August 2016		8,000			177,218			185,218
At 31 August 2015		12,000			88,309			100,309

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Mechanical Mouse Limited
Notes to the Abbreviated Accounts for the Year Ended 31 August 2016
......... continued

3	Related party transactions

Other related party transactions

During the year the company made the following related party transactions:

Mr P O' Connor (Director) During the year the company paid rent of £750 to the director (2015 - £750) and interest of £nil (2015 - £4,750) was payable to the director in respect of his loan account balance . At the balance sheet date the amount due (to)/from Mr P O' Connor was £nil (2015 - £4,750).

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