Registered Number 03394661

MARK HATTAM LIMITED

Abbreviated Accounts

30 September 2016

MARK HATTAM LIMITED Registered Number 03394661

Abbreviated Balance Sheet as at 30 September 2016

Notes 2016 2015
£ £
Fixed assets
Tangible assets 2 940,843 937,433
940,843 937,433
Current assets
Stocks 1,430 3,175
Debtors 313,293 480,787
Cash at bank and in hand 2,743,612 2,260,355
3,058,335 2,744,317
Creditors: amounts falling due within one year (176,196) (252,705)
Net current assets (liabilities) 2,882,139 2,491,612
Total assets less current liabilities 3,822,982 3,429,045
Provisions for liabilities (5,812) (5,130)
Total net assets (liabilities) 3,817,170 3,423,915
Capital and reserves
Called up share capital 3 100 100
Revaluation reserve 15,000 15,000
Profit and loss account 3,802,070 3,408,815
Shareholders' funds 3,817,170 3,423,915
  • For the year ending 30 September 2016 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 29 March 2017

And signed on their behalf by:
Mr I M Hattam, Director

MARK HATTAM LIMITED Registered Number 03394661

Notes to the Abbreviated Accounts for the period ended 30 September 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention modified to include the revaluation of certain fixed assets and in accordance with the Financial Reporting Standard for Smaller Entities effective January 2015.

Turnover policy
Revenue – described as turnover – is the value of goods (net of Value Added Tax) provided to customers during the year, plus the value of work (net of Value Added Tax) performed during the year with respect to services.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:

Freehold land and buildings - 50 years straight line, except land which is not depreciated
Plant and machinery - 15% per annum on the reducing balance
Fixtures, fittings and equipment – 25% per annum on the reducing balance
Motor vehicles - 25% per annum on the reducing balance

Valuation information and policy
Investment property
In accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), no depreciation is provided in respect of freehold properties held for investment purposes. This is a departure from the requirements of the Companies Act 2006, which requires all properties to be depreciated. Such properties are not held for consumption but for investment and the director considers that to depreciate them would not give a true and fair view. Depreciation is only one of the factors reflected in the valuation of properties and accordingly the amount of depreciation which might otherwise have been charged cannot be separately identified or quantified. The director considers that this policy results in the accounts giving a true and fair view.

Other accounting policies
Leasing
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 which is allocated to future periods. The finance element of the rental payment is charged to the profit and loss accounts so as to produce constant periodic rates of charge on the net obligations outstanding in each period.

Stock
Stock is valued at the lower of cost and net realisable value.

Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.

2 Tangible fixed assets
£
Cost
At 1 October 2015 992,556
Additions 18,445
Disposals (19,834)
Revaluations -
Transfers -
At 30 September 2016 991,167
Depreciation
At 1 October 2015 55,123
Charge for the year 8,012
On disposals (12,811)
At 30 September 2016 50,324
Net book values
At 30 September 2016 940,843
At 30 September 2015 937,433
3 Called Up Share Capital
Allotted, called up and fully paid:
2016
£
2015
£
50 A Ordinary shares of £1 each 50 50
50 B Ordinary shares of £1 each 50 50

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