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Registration number: 02962507

M. J. Owen Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 August 2015
 

 

M. J. Owen Limited
Contents

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

2 to 3

 

Registration number: 02962507

M. J. Owen Limited
Abbreviated Balance Sheet at 31 August 2015

   

Note

   

2015
£

   

2014
£

 

Fixed assets

 

             

Tangible fixed assets

 

   

342

   

683

 

Current assets

 

             

Debtors

 

   

12,712

   

5,993

 

Cash at bank and in hand

 

   

111,257

   

138,789

 
   

   

123,969

   

144,782

 

Creditors: Amounts falling due within one year

 

   

(11,492)

   

(24,750)

 

Net current assets

 

   

112,477

   

120,032

 

Net assets

 

   

112,819

   

120,715

 

Capital and reserves

 

             

Called up share capital

 

3

   

2

   

2

 

Profit and loss account

 

   

112,817

   

120,713

 

Shareholders' funds

 

   

112,819

   

120,715

 

For the year ending 31 August 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 20 May 2016 and signed on its behalf by:

.........................................
Michael Owen
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

 

M. J. Owen Limited
Notes to the Abbreviated Accounts for the Year Ended 31 August 2015
......... continued

1

Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

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

Fixtures and fittings

25% straight line basis

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

 

M. J. Owen Limited
Notes to the Abbreviated Accounts for the Year Ended 31 August 2015
......... continued

2

Fixed assets

   

Tangible assets
£

   

Total
£

 

Cost

           

At 1 September 2014

 

9,419

   

9,419

 

At 31 August 2015

 

9,419

   

9,419

 

Depreciation

           

At 1 September 2014

 

8,736

   

8,736

 

Charge for the year

 

341

   

341

 

At 31 August 2015

 

9,077

   

9,077

 

Net book value

           

At 31 August 2015

 

342

   

342

 

At 31 August 2014

 

683

   

683

 

3

Share capital

Allotted, called up and fully paid shares

 

2015

2014

   

No.

   

£

   

No.

   

£

 

Ordinary shares of £1 each

 

2

   

2

   

2

   

2