My Carry Potty Limited - Period Ending 2016-09-30

Registration number: 05569041

My Carry Potty Limited
 
  Annual Report and Unaudited Abbreviated Accounts
 
  for the Year Ended 30 September 2016
 

My Carry Potty Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

My Carry Potty Limited
(Registration number: 05569041)
Abbreviated Balance Sheet at 30 September 2016

		Note			2016 £			2015 £
Fixed assets
Intangible fixed assets					50,704			53,403
Tangible fixed assets					8,076			15,545
					58,780			68,948
Current assets
Stocks					1,955			2,155
Debtors					44,084			66,685
Cash at bank and in hand					22,922			12,904
					68,961			81,744
Creditors: Amounts falling due within one year					(96,039)			(103,473)
Net current liabilities					(27,078)			(21,729)
Total assets less current liabilities					31,702			47,219
Creditors: Amounts falling due after more than one year					(29,861)			(44,207)
Net assets					1,841			3,012
Capital and reserves
Called up share capital		4			100			100
Profit and loss account					1,741			2,912
Shareholders' funds					1,841			3,012

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 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 28 June 2017 and signed on its behalf by:

.........................................
Mr D J Jenner
Director

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

My Carry Potty 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).

The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.

Turnover

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

Government grants

Government grants are recognised in the profit and loss account so as to match them with the expenditure towards which they are intended to contribute.

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
Patents	over the estimated life of 5 years
Trademarks	over the estimated life of 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
Equipment, fixtures and fittings	25% on cost
Plant and machinery	20% on cost

Research and development

Development expenditure incurred on an individual project is carried forward when its future recoverability can reasonably be regarded as assured. Any expenditure carried forward is amortised in line with the expected future sales from the related project.

Stock

Stock and work in progress 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.

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

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.

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My Carry Potty Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... continued

Expenditure on patents

Where the company incurs costs in connection with patent applications but the patent has not been granted as at the Balance Sheet date, then these costs are included in other debtors.

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 October 2015		65,949			81,720			147,669
Additions		11,353			3,817			15,170
At 30 September 2016		77,302			85,537			162,839
Depreciation
At 1 October 2015		12,546			66,175			78,721
Charge for the year		14,052			11,286			25,338
At 30 September 2016		26,598			77,461			104,059
Net book value
At 30 September 2016		50,704			8,076			58,780
At 30 September 2015		53,403			15,545			68,948

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2016 £			2015 £
Amounts falling due within one year		29,582			44,702
Amounts falling due after more than one year		29,861			44,207
Total secured creditors		59,443			88,909

4	Share capital

Allotted, called up and fully paid shares

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

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