true
MM Joshi Limited
06898292
2015-05-31
10972
12390
10982
12400
10
10
10982
12400
10982
12400
10982
12400
34727
28025
45709
40425
7956
15895
37753
24530
Basis of accounting
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.
In respect of long-term contracts and contracts for on-going services,turnover represents the value of work done in the year,including estimates of amounts not invoiced. Turnover in respect of long term contracts and contracts for on-going services is recognised by reference to the stage of completion.
Pension costs
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated
but not reversed at the balance sheet date where transactions or events have occurred
at that date that will result in an obligation to pay more, or a right to pay less or
to receive more tax.
Deferred tax assets are recognised only to the extent that the directors
consider that it is more likely than not that there will be suitable taxable profits
from which the future reversal of the underlying timing differences can be deducted.
Fixed Assets
All fixed assets are initially recorded at cost.
Financial Instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
Equipment
Straight Line
0.2500
2063
2063
2063
2063
2063
2063
2063
2063
Ordinary
10
1
10
10
Ordinary
1
10
10
10
The amount owed to the director at the year end was £921(2014 £1,497).
Dividend of £78,500 was paid to the director during the year(2014 £95,000).
2016-01-25
Mr M M Joshi
true
true
true
true
xbrli:shares
iso4217:GBP
xbrli:pure
MM Joshi Limited
2014-06-01
2015-05-31
MM Joshi Limited
2013-06-01
2014-05-31
MM Joshi Limited
2013-05-31
MM Joshi Limited
2014-05-31
MM Joshi Limited
2014-05-31
MM Joshi Limited
2015-05-31
2016-02-26