Mark Savage Associates Limited - Period Ending 2016-09-30

Registration number: 08233710

Mark Savage Associates Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 September 2016
 

Mark Savage Associates Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Mark Savage Associates Limited
(Registration number: 08233710)
Abbreviated Balance Sheet at 30 September 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					500			500
Creditors: Amounts falling due within one year					(179)			(179)
Net assets					321			321
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					221			221
Shareholders' funds					321			321

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 13 June 2017

.........................................
M J Savage
Director

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

Mark Savage Associates 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).

Turnover

Turnover represents the fair value of services provided under contracts with customers to the extent that there is a right to consideration. It is measured at the fair value of the consideration due. Where a service is incomplete at the year end, turnover represents the value of the service provided to that date based on an appropriate proportion of the total expected consideration at completion.

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
Office equipment	25% straight line

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

		Tangible assets £			Total £
Cost
At 1 October 2015		1,000			1,000
At 30 September 2016		1,000			1,000
Depreciation
At 1 October 2015		500			500
At 30 September 2016		500			500
Net book value
At 30 September 2016		500			500
At 30 September 2015		500			500

Page 2

Mark Savage Associates Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... continued

3	Share capital

Allotted, called up and fully paid shares

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

4	Related party transactions

Director's advances and credits

	2016 Advance/ Credit £	2016 Repaid £	2015 Advance/ Credit £	2015 Repaid £
M J Savage
Balance owed by director	-	-	-	(12,464)

Page 3