Registered Number 08045031
MORGANS INITIATIVES LIMITED
Micro-entity Accounts
31 March 2017
Notes | 2017 | 2016 | |
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£ | £ | ||
Fixed assets | |||
Tangible assets | 1 |
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Current assets | |||
Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
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( |
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Net current assets (liabilities) |
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Total assets less current liabilities |
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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital | 2 |
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Profit and loss account |
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Shareholders' funds |
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Approved by the Board on
And signed on their behalf by:
£ | |
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Cost | |
At 1 April 2016 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 31 March 2017 |
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Depreciation | |
At 1 April 2016 |
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Charge for the year |
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On disposals |
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At 31 March 2017 |
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Net book values | |
At 31 March 2017 | 130 |
At 31 March 2016 | 230 |
3 Accounting Policies
Basis of measurement and preparation of accounts
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and Include the results of the Company's operations which are described in the Director’s Report and all of which are continuing.
The Company has taken advantage of the exemption in Financial Reporting Standard No.1 from the requirement to produce a cash flow statement on the
grounds that it is a small Company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the Company, net of Value Added Tax and trade discounts.
Tangible/Intangible Fixed Assets and Depreciation
Fixed assets are stated at cost less depreciation.
Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures and Fittings 10% Straight Line Basis