Registration number:
Unaudited Abbreviated Accounts
for the Year Ended
Molly's Limited
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Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Molly's Limited
for the Year Ended 31 May 2016
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Molly's Limited for the year ended 31 May 2016 set out on pages 2 to 6 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW) , we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook .
This report is made solely to the Board of Directors of Molly's Limited , as a body, in accordance with the terms of our engagement . Our work has been undertaken solely to prepare for your approval the accounts of Molly's Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation . To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Molly's Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Molly's Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Molly's Limited. You consider that Molly's Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Molly's Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
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KSEG
Chartered Accountants
Belfry House
Champions Way
Hendon
London
NW4 1PX
4 November 2016
Molly's Limited
(Registration number: 04419765)
Abbreviated Balance Sheet at 31 May 2016
Note |
2016
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2015
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Fixed assets |
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Tangible fixed assets |
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Investments |
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Current assets |
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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 |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
- |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Shareholders' funds |
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Approved
by the Board on
2
Molly's Limited
(Registration number: 04419765)
Abbreviated Balance Sheet at 31 May 2016
......... continued
.........................................
Mr B Patel
Director
3
Molly's Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2016
......... continued
Accounting policies |
Basis of preparation
Turnover
Goodwill
Goodwill is the difference between the fair value of consideration paid for an acquired entity and the aggregate of the fair value of that entity's identifiable assets and liabilities.
Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.
Amortisation
Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:
Asset class |
Amortisation method and rate |
Goodwill: 14-15 St Dominic's Square, Luton |
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Goodwill: 1 St Dominic's Square, Luton |
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Depreciation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class |
Depreciation method and rate |
Motor vehicles |
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Fixtures, fittings & equipment |
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Short leasehold land & buildings |
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Freehold land & buildings |
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Fixed asset investments
Stock
Molly's Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2016
......... continued
Deferred tax
Operating leases
Pensions
Fixed assets |
Intangible assets
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Tangible assets
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Investments
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Total
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Cost |
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At 1 June 2015 |
202,487 |
817,674 |
43,500 |
1,063,661 |
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Additions |
- |
6,005 |
- |
6,005 |
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At 31 May 2016 |
202,487 |
823,679 |
43,500 |
1,069,666 |
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Depreciation |
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At 1 June 2015 |
202,487 |
326,625 |
- |
529,112 |
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Charge for the year |
- |
43,859 |
- |
43,859 |
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At 31 May 2016 |
202,487 |
370,484 |
- |
572,971 |
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Net book value |
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At 31 May 2016 |
- |
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At 31 May 2015 |
- |
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Creditors |
Creditors includes the following liabilities which are secured by a legal charge over a freehold property owned by the directors. In addition the directors have given a personal guarantee for the following liabilities:
2016
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2015
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Amounts falling due within one year |
- |
8,880 |
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Amounts falling due after more than one year |
- |
3,254 |
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Total secured creditors |
- |
12,134 |
Molly's Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2016
......... continued
Share capital |
Allotted, called up and fully paid shares
2016 |
2015 |
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No. |
£ |
No. |
£ |
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