REGISTERED NUMBER:
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ABBREVIATED UNAUDITED ACCOUNTS |
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FOR THE YEAR ENDED 30 APRIL 2015 |
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FOR |
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MARGRIE LIMITED |
REGISTERED NUMBER:
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ABBREVIATED UNAUDITED ACCOUNTS |
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FOR THE YEAR ENDED 30 APRIL 2015 |
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FOR |
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MARGRIE LIMITED |
MARGRIE LIMITED (REGISTERED NUMBER: SC137063) |
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CONTENTS OF THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 30 APRIL 2015 |
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Company Information | 1 |
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Chartered Accountants' Report | 2 |
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Abbreviated Balance Sheet | 3 |
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Notes to the Abbreviated Accounts | 5 |
MARGRIE LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 APRIL 2015 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
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BANKERS: |
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SOLICITORS: |
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CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
MARGRIE LIMITED |
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The following reproduces the text of the report prepared for the director in respect of |
the company's annual unaudited financial statements, from which the unaudited |
abbreviated accounts (set out on pages three to six) have been prepared. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared |
for your approval the financial statements of Margrie Limited for the year ended 30 April 2015 |
which comprise the Profit and Loss Account, the Balance Sheet, and the related notes from |
the company's accounting records and from information and explanations you have given us. |
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As a practising member firm of the Institute of Chartered Accountants of Scotland, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.org.uk/accountspreparationguidance. |
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This report is made solely to the director of Margrie Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Margrie Limited and state those matters that we have agreed to state to the director of Margrie Limited in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at http://www.icas.org.uk/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report. |
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It is your duty to ensure that Margrie Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Margrie Limited. You consider that Margrie Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of |
Margrie 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 financial statements. |
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Chartered Accountants |
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8 October 2015 |
MARGRIE LIMITED (REGISTERED NUMBER: SC137063) |
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ABBREVIATED BALANCE SHEET |
30 APRIL 2015 |
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2015 | 2014 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 2 |
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Investments | 3 |
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CURRENT ASSETS |
Stocks |
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Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one
year |
4 |
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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 |
4 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 5 |
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Profit and loss account |
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SHAREHOLDERS' FUNDS |
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The director acknowledges his responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386
and 387 of the Companies Act 2006 and |
(b) |
preparing financial statements which give a true and fair view of the state of affairs of the
company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
MARGRIE LIMITED (REGISTERED NUMBER: SC137063) |
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ABBREVIATED BALANCE SHEET - continued |
30 APRIL 2015 |
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The financial statements were approved by the director on
by: |
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MARGRIE LIMITED (REGISTERED NUMBER: SC137063) |
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NOTES TO THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 30 APRIL 2015 |
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1. | ACCOUNTING POLICIES |
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Accounting convention |
The financial statements have been prepared under the historical cost convention and |
in accordance with the Financial Reporting Standard for Smaller Entities (effective April |
2008). |
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Turnover |
Turnover is made up of Cattle and Sheep Sales, Contracting income, Single Farm |
Payment and other subsidies received. |
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Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset |
over its estimated useful economic life or, if held under a finance lease, over the lease |
term, whichever is the shorter. |
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Land and buildings - 10% per annum on cost |
Plant and machinery etc - 10% to 25% on reducing balance |
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The Director is of the opinion that leasehold land and buildings, which comprise tenants |
improvements to agricultural property, should be depreciated over 10 years on a |
straight line basis in line with Agricultural Tenancy legislation. |
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Stocks |
Stocks are valued at the lower of cost and proportion of net realisable value as set out |
in IR BEN19, with the exception of the mature animals in the livestock herd which are |
valued on the herd basis. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but |
not reversed at the balance sheet date. |
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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the |
balance sheet. Those held under hire purchase contracts are depreciated over their |
estimated useful lives. Those held under finance leases are depreciated over their |
estimated useful lives or the lease term, whichever is the shorter. |
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The interest element of these obligations is charged to the profit and loss account over |
the relevant period. The capital element of the future payments is treated as a liability. |
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Rentals paid under operating leases are charged to the profit and loss account on a |
straight line basis over the period of the lease. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable |
to the company's pension scheme are charged to the profit and loss account in the |
period to which they relate. |
MARGRIE LIMITED (REGISTERED NUMBER: SC137063) |
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NOTES TO THE ABBREVIATED ACCOUNTS - continued |
FOR THE YEAR ENDED 30 APRIL 2015 |
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2. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 May 2014 |
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Additions |
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At 30 April 2015 |
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DEPRECIATION |
At 1 May 2014 |
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Charge for year |
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At 30 April 2015 |
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NET BOOK VALUE |
At 30 April 2015 |
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At 30 April 2014 |
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3. | FIXED ASSET INVESTMENTS |
Investments |
other |
than |
loans |
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COST |
At 1 May 2014 |
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Additions |
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At 30 April 2015 |
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NET BOOK VALUE |
At 30 April 2015 |
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At 30 April 2014 |
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4. | CREDITORS |
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Creditors include an amount of £
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given. |
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5. | CALLED UP SHARE CAPITAL |
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Allotted and issued: |
Number: | Class: | Nominal | 2015 | 2014 |
value: | £ | £ |
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Share Capital | £1 |
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