Company Registration No. 02231788 (England and Wales)
MORGAN LAMBERT & PARTNERS LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2016
MORGAN LAMBERT & PARTNERS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
MORGAN LAMBERT & PARTNERS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
738
984
Current assets
Debtors
3,048
10,823
Cash at bank and in hand
35,237
10,591
38,285
21,414
Creditors: amounts falling due within one year
(16,827)
(20,107)
Net current assets
21,458
1,307
Total assets less current liabilities
22,196
2,291
Capital and reserves
Called up share capital
3
2
2
Profit and loss account
22,194
2,289
Shareholders' funds
22,196
2,291
For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 22 December 2016
Mr P D Morgan
Director
Company Registration No. 02231788
MORGAN LAMBERT & PARTNERS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
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
Turnover represents net invoiced sales of goods, excluding value added tax.
1.4
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2007, was being amortised evenly over its estimated useful life of five years. This has now been fully depreciated.
1.5
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Computer equipment
25% on reducing balance
Motor vehicles
33% on cost
1.6
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.
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 April 2015 & at 31 March 2016
300,000
14,672
314,672
Depreciation
At 1 April 2015
300,000
13,688
313,688
Charge for the year
-
246
246
At 31 March 2016
300,000
13,934
313,934
Net book value
At 31 March 2016
-
738
738
At 31 March 2015
-
984
984
MORGAN LAMBERT & PARTNERS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2016
- 3 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
2 Ordinary shares of £1 each
2
2