Registered Number 02433132
MCKILLOP DENTAL EQUIPMENT LIMITED
Abbreviated Accounts
31 October 2014
Notes | 2014 | 2013 | |
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£ | £ | ||
Fixed assets | |||
Tangible assets | 2 |
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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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Share premium account |
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Other reserves |
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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
- Office Equipment - 20% Reducing Balance
- Motor Vehicles – 20% Reducing Balance
Other accounting policies
Operating Lease Agreements – Rentals applicable to operating leases where substantially all the benefits and risks of ownership remain with the lessor are charged against profits on straight line basis over the period of the lease.
Inventory – Inventories have been stated at the lower of cost and net realisable value including those costs that have been incurred in bringing the inventory to its current location and condition.
Corporation Taxation - There is a provision for Corporation Tax for the year based upon the taxable profits at a rate of 20% as applicable to small company profits. No provision is considered necessary for Deferred Taxation.
Cash Flow Statement - The directors have elected to take advantage of the exemption in FRS Number 1 from the requirement to produce a cash flow statement on the grounds that the company qualifies as small under the Companies Act 2006.
£ | |
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Cost | |
At 1 November 2013 |
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Additions |
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Disposals |
( |
Revaluations |
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Transfers |
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At 31 October 2014 |
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Depreciation | |
At 1 November 2013 |
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Charge for the year |
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On disposals |
( |
At 31 October 2014 |
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Net book values | |
At 31 October 2014 | 33,910 |
At 31 October 2013 | 43,287 |