Company Registration No. 06603058 (England and Wales)
NAGA MUNCHETTY LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2015
NAGA MUNCHETTY LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
NAGA MUNCHETTY LIMITED
ABBREVIATED BALANCE SHEET
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
1,530
968
Current assets
Debtors
12,820
8,471
Cash at bank and in hand
61,211
101,822
74,031
110,293
Creditors: amounts falling due within one year
(30,649)
(36,695)
Net current assets
43,382
73,598
Total assets less current liabilities
44,912
74,566
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
44,812
74,466
Shareholders' funds
44,912
74,566
For the financial year ended 31 May 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 12 January 2016
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 2015
- 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 April 2008).
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 2014
1,994
Additions
1,072
At 31 May 2015
3,066
Depreciation
At 1 June 2014
1,026
Charge for the year
510
At 31 May 2015
1,536
Net book value
At 31 May 2015
1,530
At 31 May 2014
968
3
Share capital
2015
2014
£
£
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 2015
- 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
.