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Company registration number:09833236
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2M PH. INTL. LIMITED
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ABBREVIATED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 October 2016
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2M PH. INTL. LIMITED |
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BALANCE SHEET |
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AS AT 31 October 2016
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2016 |
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Notes |
£ |
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£ |
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FIXED ASSETS |
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Tangible assets |
2 |
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4,122
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4,122
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CURRENT ASSETS |
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Stocks |
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11,021
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11,021
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CREDITORS |
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Amounts falling due within one year |
(12,509) |
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NET CURRENT ASSETS |
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(1,488) |
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TOTAL ASSETS LESS |
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CURRENT LIABILITIES |
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2,634
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NET ASSETS |
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2,634
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CAPITAL AND RESERVES |
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Called-up equity share capital |
3 |
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100
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Profit and loss account |
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2,534
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SHAREHOLDERS FUNDS |
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2,634
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For the year ending 31 October 2016 the company was entitled to exemption section 477 of the Companies Act 2006 relating to small companies.
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The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of the accounts.
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These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
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.......................................................................... |
M Melano - Director
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19 June 2017
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The annexed notes form part of these financial statements. |
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2M PH. INTL. LIMITED |
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NOTES TO THE FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 OCTOBER 2016 |
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1. |
Accounting policies |
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Basis of preparing the financial statements |
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The financial statements have been prepared under the historical cost covention in accordance with the accounting policies set out below. These financial statements have been prepared in accordance with FRS102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
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Turnover |
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Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
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Foreign currency |
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Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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Fixed assets |
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Tangible 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: Equipment 33% reducing balance basis Fixtures and fittings 20% reducing balance basis
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Stocks and work In progress |
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Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
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Deferred taxation |
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Provision is made for taxation deferred as a result of material timing differences between the incidence of income and expenditure for taxation purposes, using the liability method, only to the extent that, in the opinion of the directors, there is a reasonable probability that a a liability or asset will crystallise in the near future.
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2. |
Tangible fixed assets |
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Total |
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Cost |
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Additions |
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5,945
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At end of period |
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5,945
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Depreciation |
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Provided during the period |
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1,823
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At end of period |
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1,823
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Net Book Value |
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At end of period |
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4,122
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3.
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Share capital |
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Allotted, issued and fully paid
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2016 |
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£ |
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Ordinary shares of £1 each
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100
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Total issued share capital |
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100
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