MICHAEL GOLD LIMITED - Limited company - abbreviated

REGISTERED NUMBER: 02587981 (England and Wales)

ABBREVIATED ACCOUNTS FOR THE YEAR ENDED 31 JULY 2014

FOR

MICHAEL GOLD LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

Chartered Accountants' Report

4

DIRECTORS:

A TAILOR

Y TAILOR

S TAILOR

SECRETARY:

A TAILOR

REGISTERED OFFICE:

22-26 Nelson Street

LONDON

E1 2DN

REGISTERED NUMBER:

02587981 (England and Wales)

ACCOUNTANTS:

Patsons Accountancy Limited

Suraj Chambers

53 Islington Park Street

London

N1 1QB

FIXED ASSETS

Tangible assets

2

51

CURRENT ASSETS

Stocks

69,150

73,695

Debtors

3

3,703,963

3,503,967

Investments

1,200,000

500,000

Cash at bank and in hand

59,155

417,443

5,032,268

4,495,105

CREDITORS

Amounts falling due within one year

249,703

208,850

NET CURRENT ASSETS

4,782,565

4,286,255

TOTAL ASSETS LESS CURRENT
LIABILITIES

4,782,616

4,286,306

CAPITAL AND RESERVES

Called up share capital

4

100

Profit and loss account

4,782,516

4,286,206

SHAREHOLDERS' FUNDS

4,782,616

4,286,306

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2014 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 10 November 2014 and were signed on its behalf
by:

S TAILOR - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 August 2013

and 31 July 2014

18,824

DEPRECIATION

At 1 August 2013

and 31 July 2014

18,773

NET BOOK VALUE

At 31 July 2014

51

At 31 July 2013

51

3.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

The aggregate total of debtors falling due after more than one year is £ 3,320,000 (31.7.13 - £ 3,160,000 )

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.14

31.7.13

value:

£

100

ORDINARY

£1

100

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to three)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of MICHAEL GOLD LIMITED for the year ended 31 July 2014 which comprise the Profit and

Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject

to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of MICHAEL GOLD LIMITED, as a body, in accordance with our

terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of

MICHAEL GOLD LIMITED and state those matters that we have agreed to state to the Board of Directors of

MICHAEL GOLD LIMITED, as a body, in this report in accordance with AAF 2/10 as detailed at

icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone

other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that MICHAEL GOLD LIMITED has kept adequate accounting records and to prepare statutory

financial statements that give a true and fair view of the assets, liabilities, financial position and profit of MICHAEL

GOLD LIMITED. You consider that MICHAEL GOLD LIMITED is exempt from the statutory audit requirement for

the year.

We have not been instructed to carry out an audit or a review of the financial statements of MICHAEL GOLD

LIMITED. For this reason, we have not verified the accuracy or completeness of the accounting records or information

and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial

statements.