Company Registration No. 02897298 (England and Wales)
MURCOM LIMITED
COMPANY REGISTRATION NO. 2897298 (ENGLAND AND WALES)
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2015
MURCOM LIMITED
COMPANY REGISTRATION NO. 2897298 (ENGLAND AND WALES)
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
MURCOM LIMITED
COMPANY REGISTRATION NO. 2897298 (ENGLAND AND WALES)
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2015
31 March 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Intangible assets
2
1
1
Tangible assets
2
16,934
18,201
16,935
18,202
Current assets
Stocks
5,034
6,345
Debtors
163,933
156,663
Cash at bank and in hand
239
247
169,206
163,255
Creditors: amounts falling due within one year
3
(308,308)
(313,328)
Net current liabilities
(139,102)
(150,073)
Total assets less current liabilities
(122,167)
(131,871)
Capital and reserves
Called up share capital
4
41,000
41,000
Profit and loss account
(163,167)
(172,871)
Shareholders' funds
(122,167)
(131,871)
For the financial year ended 31 March 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their 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 13 August 2015
Mr C K Murphy
Director
Company Registration No. 02897298
MURCOM LIMITED
COMPANY REGISTRATION NO. 2897298 (ENGLAND AND WALES)
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015
- 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 April 2008).
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 amounts receivable for goods and services net of VAT and trade discounts.
1.4
Goodwill
Goodwill of £1, which was purchased in the period ended 31 March 1995, is included at cost.
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:
Fixtures, fittings & equipment
15% on reducing balance
Motor vehicles
25% on reducing balance
1.6
Stock
Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
1.7
Deferred taxation
Full provision is made, at rates that are expected to apply in periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantially enacted at the balance sheet date, in respect of all timing differences which have arisen but not reversed at the balance sheet date. Timing differences are differences betwenn the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on a non-discounted basis. Deferred tax assets are only recognised where they arise from timing differences and where their recoverability in the short term is regarded as more likely than not.
1.8
The financial statements have been prepared on a going concern basis which assumes that the company has adequate financial support and resources to enable it to continue in operational existence for the forseeable future, this is due to the ongoing support of the company's bankers and invoice discount finance providers.
MURCOM LIMITED
COMPANY REGISTRATION NO. 2897298 (ENGLAND AND WALES)
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2015
- 3 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 April 2014
1
115,924
115,925
Additions
-
1,931
1,931
At 31 March 2015
1
117,855
117,856
Depreciation
At 1 April 2014
-
97,723
97,723
Charge for the year
-
3,198
3,198
At 31 March 2015
-
100,921
100,921
Net book value
At 31 March 2015
1
16,934
16,935
At 31 March 2014
1
18,201
18,202
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £128,977 (2014 - £138,808).
4
Share capital
2015
2014
£
£
Allotted, called up and fully paid
41,000 Ordinary of £1 each
41,000
41,000