Registered Number 07412548
MEGAFLATABLES LIMITED
Abbreviated Accounts
30 October 2016
Notes | 2016 | 2015 | |
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£ | £ | ||
Fixed assets | |||
Intangible assets | 2 |
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Tangible assets | 3 |
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Current assets | |||
Stocks |
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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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Net current assets (liabilities) |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
( |
( |
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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital |
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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:
1Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
Tangible assets depreciation policy
All fixed assets are initially recorded at cost.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Plant & Machinery - 33.3% Straight Line
Fixtures & Fittings - 33.3% Straight Line
Intangible assets amortisation policy
Patents - 10% Straight Line
Valuation information and policy
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Operating Lease Agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.
Foreign Currencies
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 of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
£ | |
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Cost | |
At 31 October 2015 |
|
Additions |
|
Disposals |
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Revaluations |
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Transfers |
|
At 30 October 2016 |
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Amortisation | |
At 31 October 2015 |
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Charge for the year |
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On disposals |
|
At 30 October 2016 |
|
Net book values | |
At 30 October 2016 | 3,518 |
At 30 October 2015 | 4,317 |
£ | |
---|---|
Cost | |
At 31 October 2015 |
|
Additions |
|
Disposals |
|
Revaluations |
|
Transfers |
|
At 30 October 2016 |
|
Depreciation | |
At 31 October 2015 |
|
Charge for the year |
|
On disposals |
|
At 30 October 2016 |
|
Net book values | |
At 30 October 2016 | 3,506 |
At 30 October 2015 | 3,415 |