Company Registration No. 04214713 (England and Wales)
MADE SIMPLE GROUP LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 OCTOBER 2015
MADE SIMPLE GROUP LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 5
MADE SIMPLE GROUP LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 OCTOBER 2015
31 October 2015
- 1 -
2015
2014
as restated
Notes
£
£
£
£
Fixed assets
Tangible assets
2
1,909,824
2,028,480
Investments
2
60,102
60,000
1,969,926
2,088,480
Current assets
Debtors
483,459
738,812
Cash at bank and in hand
864,051
445,648
1,347,510
1,184,460
Creditors: amounts falling due within one year
(932,215)
(638,599)
Net current assets
415,295
545,861
Total assets less current liabilities
2,385,221
2,634,341
Creditors: amounts falling due after more than one year
3
(587,219)
(633,887)
Provisions for liabilities
(85,475)
(315,045)
1,712,527
1,685,409
Capital and reserves
Called up share capital
4
10,000
10,000
Share premium account
40,630
40,630
Profit and loss account
1,661,897
1,634,779
Shareholders' funds
1,712,527
1,685,409
MADE SIMPLE GROUP LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 OCTOBER 2015
31 October 2015
- 2 -
For the financial year ended 31 October 2015 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 20 July 2016
H Graham
Director
Company Registration No. 04214713
MADE SIMPLE GROUP LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 OCTOBER 2015
- 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 April 2008).
1.2
Turnover
Turnover represents fees receivable fo r services net of VAT and trade discounts.
fees
receivable fo
r
services net of VAT and trade discounts.
1.3
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 Leasehold
2% Straight Line
Computer equipment
25% Straight Line
Fixtures, fittings & equipment
20% Straight Line
1.4
Investments
Fixed asset investments are stated at cost less provision for diminution in value.
1.5
Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
1.6
Restatement of prior year
The prior year adjustment is required as the profits for the previous year were understated by £118,421 due to overstated and understated deferred income and client deposits, as well as a loan written off to Made Simple 01 Limited.
MADE SIMPLE GROUP LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2015
- 4 -
2
Fixed assets
Tangible assets
Investments
Total
£
£
£
Cost
At 1 November 2014
2,052,261
60,000
2,112,261
Additions
25,091
102
25,193
At 31 October 2015
2,077,352
60,102
2,137,454
Depreciation
At 1 November 2014
23,781
-
23,781
Charge for the year
143,747
-
143,747
At 31 October 2015
167,528
-
167,528
Net book value
At 31 October 2015
1,909,824
60,102
1,969,926
At 31 October 2014
2,028,480
60,000
2,088,480
Holdings of more than 20%
The company holds more than 20% of the share capital of the following companies:
Company
Country of registration or
Shares held
incorporation
Class
%
Subsidiary undertakings
Business Training Made Simple Ltd
England and Wales
Ordinary
51.00
Participating interests
Carvill Creative Limited
England and Wales
Ordinary
49.00
The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:
Capital and reserves
Profit/(loss) for the year
2015
2015
Principal activity
£
£
Business Training Made Simple Ltd
Business training
1
-
Carvill Creative Limited
Marketing and Design
168
18,671
MADE SIMPLE GROUP LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2015
- 5 -
3
Creditors: amounts falling due after more than one year
2015
2014
£
£
Analysis of loans repayable in more than five years
Loan due in more than five years
-
680,555
4
Share capital
2015
2014
£
£
Allotted, called up and fully paid
36,000 Ord-A of 10p each
3,600
3,600
8,000 Ord-B of 10p each
800
800
16,000 Ord-C of 10p each
1,600
1,600
32,000 Ord-F of 10p each
3,200
3,200
8,000 Ord-G of 10p each
800
800
10,000
10,000
5
Transactions with directors
As at 31 October 2015 the company owed the director H Graham £76,232 (2014: £36,654 owed the company).
6
Related party relationships and transactions
During the year rent and service charges of £Nil (2014: £91,780) were paid to Westbury Accountants, a partnership in which the director K Graham is a partner.
At the year end the following balances were included within other debtors:
Westbury Accountants: £134,270 (2014: £217,657), the director K Graham is a partner. During the year interest of £6,240 (2014: £6,240) was received in respect of this balance.
Jobri Investments Limited: £Nil (2014: £215,133), a company in which H Graham and K Graham are also directors and shareholders. During the year interest of £Nil (2014: £14,847) was received in respect of this balance.
Made Simple Group 01 Limited: £Nil (2014: £61,875), a company in which H Graham and K Graham are also directors and shareholders.
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