Company Registration No. 06603058 (England and Wales)
NAGA MUNCHETTY LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2016
NAGA MUNCHETTY LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
NAGA MUNCHETTY LIMITED
ABBREVIATED BALANCE SHEET
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
1,672
1,530
Current assets
Debtors
8,768
12,820
Cash at bank and in hand
97,011
61,211
105,779
74,031
Creditors: amounts falling due within one year
(31,151)
(30,649)
Net current assets
74,628
43,382
Total assets less current liabilities
76,300
44,912
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
76,200
44,812
Shareholders' funds
76,300
44,912
For the financial year ended 31 May 2016 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 24 January 2017
Mrs Naga Haggar
Mr James Haggar
Director
Director
Company Registration No. 06603058
NAGA MUNCHETTY LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2016
- 2 -
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 January 2015).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year, inclusive of VAT but less the flat rate VAT scheme percentage of 12.5%.
inclusive of VAT but less the flat rate VAT scheme percentage of 12.5%.
1.4
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:
Fixtures, fittings & equipment
25% Reducing Balance
2
Fixed assets
Tangible assets
£
Cost
At 1 June 2015
3,066
Additions
699
At 31 May 2016
3,765
Depreciation
At 1 June 2015
1,536
Charge for the year
557
At 31 May 2016
2,093
Net book value
At 31 May 2016
1,672
At 31 May 2015
1,530
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary Shares of £1 each
100
100
NAGA MUNCHETTY LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2016
- 3 -
4
Ultimate parent company
The company was under the control of
Naga Haggar
, the managing director, along with close family members by virtue of their majority shareholding in the company
.