Abbreviated Company Accounts - MERSEA COMMERCIAL AND LEISURE TRAILERS LIMITED
Abbreviated Company Accounts - MERSEA COMMERCIAL AND LEISURE TRAILERS LIMITED
Registered Number 03286015
MERSEA COMMERCIAL AND LEISURE TRAILERS LIMITED
Abbreviated Accounts
30 November 2014
MERSEA COMMERCIAL AND LEISURE TRAILERS LIMITED Registered Number 03286015
Abbreviated Balance Sheet as at 30 November 2014
Notes | 2014 | 2013 | |
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£ | £ | ||
Fixed assets | |||
Intangible assets | 2 |
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Tangible assets | 3 |
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Current assets | |||
Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
( |
( |
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Net current assets (liabilities) |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital | 4 |
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Profit and loss account |
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Shareholders' funds |
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For the year ending 30 November 2014 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
And signed on their behalf by:
MERSEA COMMERCIAL AND LEISURE TRAILERS LIMITED Registered Number 03286015
Notes to the Abbreviated Accounts for the period ended 30 November 2014
1Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
and derives from the provision of goods falling within the company's ordinary activities.
Tangible assets depreciation policy
Leasehold properties - Straight line over the life of the lease
Plant and machinery - 10% straight line
Fixtures, fittings
Fiuxtures, fittings and equipment - 25% reducing balance
Motor vehicles - 25% reducing balance
Information Technology - 25% reducing balance
Intangible assets amortisation policy
20 years.
Other accounting policies
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements
are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce constant periodic rates of charge on the net obligations outstanding in each period.
Stock
Stock is valued at the lower of cost and net realisable value.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more, tax, with the following exceptions:
Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments) of fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose of the assets concerned. However, no provision is made where, on the basis of all available evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled over into replacement assets and charged to tax only where the replacement assets are sold;
Provision is made for deferred tax that would arise on remittance of the retained earnings of overseas subsidiaries, associates and joint ventures only to the extent that, at the balance sheet date, dividends have been accrued as receivable;
Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
£ | |
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Cost | |
At 1 December 2013 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 30 November 2014 |
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Amortisation | |
At 1 December 2013 |
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Charge for the year |
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On disposals |
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At 30 November 2014 |
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Net book values | |
At 30 November 2014 | 17,206 |
At 30 November 2013 | 20,106 |
£ | |
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Cost | |
At 1 December 2013 |
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Additions |
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Disposals |
( |
Revaluations |
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Transfers |
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At 30 November 2014 |
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Depreciation | |
At 1 December 2013 |
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Charge for the year |
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On disposals |
( |
At 30 November 2014 |
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Net book values | |
At 30 November 2014 | 164,454 |
At 30 November 2013 | 177,987 |