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M56 Chemicals & Laboratory Supplies limited
03464946
2015-12-31
17099
18804
17210
18915
111
111
17210
18915
4530
2703
21740
21618
-908
5073
567360
503762
566452
508835
251643
280354
147007
122924
167802
105557
22648
16545
22648
16545
Basis of accounting
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Changes in accounting policies
In preparing the financial statements for the current year, the company has adopted the Financial Reporting Standard for Smaller Entities (effective January 2015).
Consolidation
In the opinion of the directors, the company and its subsidiary undertakings comprise a small group. The company has therefore taken advantage of the
exemption provided by Section 398 of the Companies Act 2006 not to prepare group accounts.
Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.
In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.
Depreciation
During the year the company took the decision to write off the book value of existing equipment on
the basis that its residual value is negligible.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance
for obsolete and slow moving items.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not
reversed at the balance sheet date where transactions or events have occurred at that date that
will result in an obligation to pay more, or a right to pay less or to receive more tax, with
the following exceptions:
Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments)
of fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement
assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose
of the assets concerned. However, no provision is made where, on the basis of all available
evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled
over into replacement assets and charged to tax only where the replacement assets are sold.
Deferred tax assets are recognised only to the extent that the directors consider that it is more
likely than not that there will be suitable taxable profits from which the future reversal of the
underlying timing differences can be deducted.
Deferred tax is measured on an undiscounted basis at the tax rates that are expected
to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or
substantively enacted at the balance sheet date.
Fixed Assets
All fixed assets are initially recorded at cost.
Fixtures & Fittings
Reducing Balance
0.2500
Motor Vehicles
Reducing Balance
0.3300
Office Equipment
Reducing Balance
0.2500
53915
59281
14429
-19795
31267
42736
7335
-18804
53915
59281
14429
-19795
31267
42736
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Ordinary
1000
1
1000
1000
Ordinary
1
111
111
111
2016-09-27
Dr M Eckersley
true
true
true
true
xbrli:shares
iso4217:GBP
xbrli:pure
M56 Chemicals & Laboratory Supplies limited
2015-01-01
2015-12-31
M56 Chemicals & Laboratory Supplies limited
2014-01-01
2014-12-31
M56 Chemicals & Laboratory Supplies limited
2013-12-31
M56 Chemicals & Laboratory Supplies limited
2014-12-31
M56 Chemicals & Laboratory Supplies limited
2014-12-31
M56 Chemicals & Laboratory Supplies limited
2015-12-31
2016-09-29