Company Registration No. 04626352 (England and Wales)
MARGARET HALL LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2016
MARGARET HALL LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
MARGARET HALL LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 APRIL 2016
30 April 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
294,042
262,381
Current assets
Stocks
110,868
84,601
Debtors
505,276
495,530
Cash at bank and in hand
253,176
152,301
869,320
732,432
Creditors: amounts falling due within one year
(208,924)
(235,450)
Net current assets
660,396
496,982
Total assets less current liabilities
954,438
759,363
Creditors: amounts falling due after more than one year
(19,720)
(32,174)
Provisions for liabilities
(57,603)
(49,709)
877,115
677,480
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
877,015
677,380
Shareholders' funds
877,115
677,480
MARGARET HALL LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
30 APRIL 2016
30 April 2016
- 2 -
For the financial year ended 30 April 2016 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 11 August 2016
Mrs C.A. Walsh
Mr J.P. Walsh
Director
Director
Company Registration No. 04626352
MARGARET HALL LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 APRIL 2016
- 3 -
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 amounts receivable for goods and services net of VAT and trade discounts.
1.4
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of ten years.
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:
Land and buildings Freehold
No depreciation
Plant and machinery
15% Reducing balance
Motor vehicles
25% reducing balance
1.6
Leasing and hire purchase commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
1.7
Stock
Stock is valued at the lower of cost and net realisable value.
1.8
Pensions
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
1.9
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.
MARGARET HALL LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2016
- 4 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 May 2015
10,000
577,890
587,890
Additions
-
94,450
94,450
Disposals
-
(21,215)
(21,215)
At 30 April 2016
10,000
651,125
661,125
Depreciation
At 1 May 2015
10,000
315,509
325,509
On disposals
-
(13,892)
(13,892)
Charge for the year
-
55,466
55,466
At 30 April 2016
10,000
357,083
367,083
Net book value
At 30 April 2016
-
294,042
294,042
At 30 April 2015
-
262,381
262,381
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100