DAVID_H_MYERS_(CHURCHTOWN - Accounts
DAVID_H_MYERS_(CHURCHTOWN - Accounts
Company Registration No. 05739139 (England and Wales)
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2014
CONTENTS
Page
Accountants' report
1
Abbreviated balance sheet
2 - 3
Notes to the abbreviated accounts
4 - 5
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF DAVID H MYERS (CHURCHTOWN) LIMITED FOR THE YEAR ENDED 31 MARCH 2014
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of David H Myers (Churchtown) Limited for the year ended 31 March 2014 set out on pages 2 to 5 from the company's accounting records and from information and explanations you have given to us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, 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 David H Myers (Churchtown) Limited, as a body, in accordance with the terms of our engagement letter dated 9 May 2013. Our work has been undertaken solely to prepare for your approval the financial statements of David H Myers (Churchtown) Limited and state those matters that we have agreed to state to the Board of Directors of David H Myers (Churchtown) 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 David H Myers (Churchtown) Limited and it's Board of Directors as a body, for our work or for this report.
It is your duty to ensure that David H Myers (Churchtown) 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 David H Myers (Churchtown) Limited. You consider that David H Myers (Churchtown) 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 David H Myers (Churchtown) 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.
Moore and Smalley LLP
Chartered Accountants
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2014
- 2 -
2014
2013
Notes
£
£
£
£
Fixed assets
Intangible assets
2
Tangible assets
2
Current assets
Stocks
Debtors
Cash at bank and in hand
Creditors: amounts falling due within one year
3
(39,534 )
(53,114 )
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after more than one year
4
(200 )
(2,596 )
Provisions for liabilities
(5,625 )
(4,436 )
205,730
173,720
Capital and reserves
Called up share capital
5
Profit and loss account
Shareholders' funds
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2014
- 3 -
Directors' responsibilities:
-
-
Approved by the Board for issue on 16 December 2014
Director
Company Registration No. 05739139
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2014
- 4 -
1
Accounting policies
1.1
Accounting convention
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
1.4
Goodwill
1.5
Tangible fixed assets and depreciation
Equipment
Fixtures & Fittings
1.6
Leasing and hire purchase commitments
Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account on a straight line basis.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.
1.7
Stock
Stock is valued at the lower of cost and net realisable value.
1.8
Pensions
The company operates a defined contribution scheme for the benefit of its employees. The assets of the scheme are held separately from those of the company. Contributions payable are charged to the profit and loss account in the year they are payable.
1.9
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
1.10
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2014
- 5 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 April 2013
210,986
Additions
-
12,163
Disposals
-
(9,898 )
(9,898)
At 31 March 2014
213,251
Depreciation
At 1 April 2013
96,310
On disposals
-
(7,002 )
(7,002)
Charge for the year
12,335
At 31 March 2014
101,643
Net book value
At 31 March 2014
111,608
At 31 March 2013
114,676
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £2,396 (2013 - £2,396).
4
Creditors: amounts falling due after more than one year
The aggregate amount of creditors for which security has been given amounted to £200 (2013 - £2,596).
5
Share capital
2014
2013
£
£
Allotted, called up and fully paid