| McMorris Investments Limited |
|
| Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of McMorris Investments Limited for the year ended 28 February 2018 |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of McMorris Investments Limited for the year ended 28 February 2018 which comprise of the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity 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, we are subject to its ethical and other professional requirements which are detailed at
www.icaew.com/en/members/regulations-standards-and-guidance |
| This report is made solely to the Board of Directors of McMorris Investments Limited, as a body, in accordance with the terms of our engagement letter dated 21 October 2015. Our work has been undertaken solely to prepare for your approval the accounts of McMorris Investments Limited and state those matters that we have agreed to state to the Board of Directors of McMorris Investments Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than McMorris Investments Limited and its Board of Directors as a body for our work or for this report. |
| It is your duty to ensure that McMorris Investments Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of McMorris Investments Limited. You consider that McMorris Investments 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 accounts of McMorris Investments 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 accounts. |
|
| Thomas David |
| Chartered Accountants |
| 6-7 Castle Gate |
| Castle Street |
| HERTFORD |
| Herts |
| SG14 1HD |
|
| 28 November 2018 |
|
| McMorris Investments Limited |
| Registered number: |
06502015 |
| Balance Sheet |
| as at 28 February 2018 |
|
| Notes |
|
|
2018 |
|
|
2017 |
| £ |
£ |
| Fixed assets |
| Investments |
2 |
|
|
1,441,746 |
|
|
1,441,746 |
|
| Current assets |
| Debtors |
3 |
|
1 |
|
|
1 |
|
| Creditors: amounts falling due within one year |
4 |
|
(1,441,746) |
|
|
(1,441,746) |
|
| Net current liabilities |
|
|
|
(1,441,745) |
|
|
(1,441,745) |
|
| Net assets |
|
|
|
1 |
|
|
1 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
1 |
|
|
1 |
|
| Shareholder's funds |
|
|
|
1 |
|
|
1 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The member has not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| Dr E McMorris |
| Director |
| Approved by the board on 28 November 2018 |
|
| McMorris Investments Limited |
| Notes to the Accounts |
| for the year ended 28 February 2018 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Investments |
|
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
| 2 |
Investments |
| Investments in |
| subsidiary |
| undertakings |
| £ |
|
Cost |
|
At 1 March 2017 |
1,441,746 |
|
|
At 28 February 2018 |
1,441,746 |
|
|
| 3 |
Debtors |
2018 |
|
2017 |
| £ |
£ |
|
|
Other debtors |
1 |
|
1 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Creditors: amounts falling due within one year |
2018 |
|
2017 |
| £ |
£ |
|
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
1,441,746 |
|
1,441,746 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Other information |
|
|
McMorris Investments Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
Sparkford House |
|
73 St. Cross Road |
|
WINCHESTER |
|
Hampshire |
|
SO23 9RE |
|
