McGregor Norvic Ltd - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 07945991 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 October 2014

for

McGregor Norvic Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

I McGregor

REGISTERED OFFICE:

Orford Cottages

The Moor

Reepham

Norwich

Norfolk

NR10 4NL

REGISTERED NUMBER:

07945991 (England and Wales)

ACCOUNTANTS:

Boldero & Co.

Ivy House

The Market Place

Reepham

Norwich

Norfolk

NR10 4LZ

FIXED ASSETS

Tangible assets

2

16,564

22,085

CURRENT ASSETS

Stocks

27,202

35,474

Debtors

-

1,522

Cash in hand

4,342

6,209

31,544

43,205

CREDITORS

Amounts falling due within one year

2,294

1,598

NET CURRENT ASSETS

29,250

41,607

TOTAL ASSETS LESS CURRENT LIABILITIES

45,814

63,692

CREDITORS

Amounts falling due after more than one year

123,799

117,989

NET LIABILITIES

(77,985

)

(54,297

)

CAPITAL AND RESERVES

Called up share capital

3

1

1

Profit and loss account

(77,986

)

(54,298

)

SHAREHOLDERS' FUNDS

(77,985

)

(54,297

)

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

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

The director acknowledges his 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 director on 30 January 2015 and were signed by:

I McGregor - 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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2013

and 31 October 2014

30,404

DEPRECIATION

At 1 November 2013

8,319

Charge for year

5,521

At 31 October 2014

13,840

NET BOOK VALUE

At 31 October 2014

16,564

At 31 October 2013

22,085

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.14

31.10.13

value:

£

£

100

Ordinary

1

1

1