Abbreviated Company Accounts - MAGHERAMORE LTD

Abbreviated Company Accounts - MAGHERAMORE LTD


Registered Number NI627761

MAGHERAMORE LTD

Abbreviated Accounts

30 November 2016

MAGHERAMORE LTD Registered Number NI627761

Abbreviated Balance Sheet as at 30 November 2016

Notes 2016 2015
£ £
Current assets
Stocks 315,652 330,000
Debtors 117,252 1
Cash at bank and in hand 163,619 -
596,523 330,001
Creditors: amounts falling due within one year (340,864) (330,000)
Net current assets (liabilities) 255,659 1
Total assets less current liabilities 255,659 1
Creditors: amounts falling due after more than one year (250,400) -
Total net assets (liabilities) 5,259 1
Capital and reserves
Called up share capital 2 1 1
Profit and loss account 5,258 -
Shareholders' funds 5,259 1
  • For the year ending 30 November 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 31 August 2017

And signed on their behalf by:
Seamus Devine, Director

MAGHERAMORE LTD Registered Number NI627761

Notes to the Abbreviated Accounts for the period ended 30 November 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts are prepared under the historical cost convention and in accordance with the Financial
Reporting Standard for Smaller Entities (effective January 2015).

Turnover policy
Turnover represents the total invoice value, excluding value added tax, of sales made during the year
and derives from the provision of goods falling within the company's ordinary activities.

Valuation information and policy
Stock is valued at the lower of cost and net realisable value.

Other accounting policies
Long term contracts
Amounts recoverable on long term contracts, which are included in debtors are stated at the net sales value of the work done after provisions for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in creditors as payments received on account.

2Called Up Share Capital
Allotted, called up and fully paid:
2016
£
2015
£
1 Ordinary share of £1 each 1 1