Registered Number 02587407
MASTER TAILOR LIMITED
Abbreviated Accounts
31 December 2015
Notes | 2015 | 2014 | |
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£ | £ | ||
Fixed assets | |||
Tangible assets | 2 |
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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 | 3 |
( |
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Net current assets (liabilities) |
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( |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year | 3 |
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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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Approved by the Board on
And signed on their behalf by:
1 Accounting Policies
Basis of measurement and preparation of accounts
Going concern
The accounts have been prepared on a going concern basis which the director considers appropriate.
Turnover
Turnover represents amounts receivable for goods and services net of VAT.
Depreciation
Depreciation of tangible fixed assets is provided on cost over their estimated useful lives. The annual rates and methods of depreciation are as follows:-
Fixtures, fittings and equipment 20%-33.3% reducing balance basis
Stock
Stock is valued at the lower of cost and net realisable value.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed by the balance sheet date. Deferred tax is not recognised when assets are revalued unless, by the balance sheet date, the company has entered into a binding agreement to sell the assets and recognised the gains or losses expected to arise on sale.
£ | |
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Cost | |
At 1 January 2015 |
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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 31 December 2015 |
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Depreciation | |
At 1 January 2015 |
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Charge for the year |
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On disposals |
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At 31 December 2015 |
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Net book values | |
At 31 December 2015 | 1,871 |
At 31 December 2014 | 2,696 |
2015
£ |
2014
£ |
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Secured Debts |
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5 Transactions with directors
Name of director receiving advance or credit: |
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Description of the transaction: |
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Balance at 1 January 2015: | £ |
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Advances or credits made: | £ |
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Advances or credits repaid: | £ |
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Balance at 31 December 2015: | £ |