Registered Number 03394661
MARK HATTAM LIMITED
30 September 2016
MARK HATTAM LIMITED Registered Number 03394661
Abbreviated Balance Sheet as at 30 September 2016
|Cash at bank and in hand||2,743,612||2,260,355|
|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|
|Profit and loss account||3,802,070||3,408,815|
- 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
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.
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
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
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 is valued at the lower of cost and net realisable value.
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.
|At 1 October 2015||992,556|
|At 30 September 2016||991,167|
|At 1 October 2015||55,123|
|Charge for the year||8,012|
|At 30 September 2016||50,324|
|Net book values|
|At 30 September 2016||940,843|
|At 30 September 2015||937,433|
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