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MORTGAGE SELECT (SW) LIMITED




Company Registration Number:
05165050 (England and Wales)



Abbreviated (Unaudited) Accounts



Period of accounts


Start date: 06th April 2010

End date: 05th April 2011

SUBMITTED

MORTGAGE SELECT (SW) LIMITED

Company Information
for the Period Ended
05th April 2011




Director: G Markham
J Brooks-Waite
Company secretary: A Markham
Registered office: 3 Discovery House Cook Way
Bindon Road
Taunton
Somerset
TA2 6BJ
Company Registration Number: 05165050 (England and Wales)

MORTGAGE SELECT (SW) LIMITED

Abbreviated Balance sheet
As at 05th April 2011

Notes 2011
£
2010
£
Fixed assets
Intangible assets: 2 35,000 42,000
Tangible assets: 3 22,805 26,829
Total fixed assets: 57,805 68,829
Current assets
Debtors: 97,354 83,395
Total current assets: 97,354 83,395
Creditors
Creditors: amounts falling due within one year 69,172 65,821
Net current assets (liabilities): 28,182 17,574
Total assets less current liabilities: 85,987 86,403
Creditors: amounts falling due after more than one year: 62,102 74,311
Total net assets (liabilities): 23,885 12,092

The notes form part of these financial statements

MORTGAGE SELECT (SW) LIMITED

Abbreviated Balance sheet
As at 05th April 2011
continued

Notes 2011
£
2010
£
Capital and reserves
Called up share capital: 4 100 100
Profit and Loss account: 23,785 11,992
Total shareholders funds: 23,885 12,092

For the year ending 5 April 2011 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

The financial statements were approved by the Board of Directors on 23 May 2011

SIGNED ON BEHALF OF THE BOARD BY:

Name: G Markham
Status: Director

The notes form part of these financial statements

MORTGAGE SELECT (SW) LIMITED

Notes to the Abbreviated Accounts
for the Period Ended
05th April 2011

  • 1. Accounting policies

    Basis of measurement and preparation of accounts

    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 policy

    The turnover shown in the profit and loss account represents revenue earned during the period, exclusive of VAT.

    Tangible fixed assets depreciation policy

    Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its useful life. Freehold buildings – 2% on cost or revalued amounts, Plant and Machinery – 15% on cost, Fixtures and Fittings – 10% on cost, Motor Vehicles – 25% on cost.

    Intangible fixed assets amortisation policy

    Intangible fixed assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight basis over their estimated useful economic lives, not to exceed twenty years. Impairment of the intangible assets are only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.

    Valuation information and policy

    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 items. Cost includes all direct expenditure and an appropriate proportion of the fixed and variable overheads.

    Other accounting policies

    Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability. Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease. Research and development expenditure is written off in the year in which it is incurred.

MORTGAGE SELECT (SW) LIMITED

Notes to the Abbreviated Accounts
for the Period Ended
05th April 2011

  • 2. Intangible assets

    Total
    Cost £
    At 06th April 2010: 70,000
    70,000
    Amortisation £
    At 06th April 2010: 28,000
    Provided during the period: 7,000
    At 05th April 2011: 35,000
    Net book value £
    At 05th April 2011: 35,000
    At 05th April 2010: 42,000

MORTGAGE SELECT (SW) LIMITED

Notes to the Abbreviated Accounts
for the Period Ended
05th April 2011

  • 3. Tangible assets

    Total
    Cost £
    At 06th April 2010: 43,828
    At 05th April 2011: 43,828
    Depreciation
    At 06th April 2010: 16,999
    Charge for year: 4,024
    At 05th April 2011: 21,023
    Net book value
    At 05th April 2011: 22,805
    At 05th April 2010: 26,829

MORTGAGE SELECT (SW) LIMITED

Notes to the Abbreviated Accounts
for the Period Ended
05th April 2011

  • 4. Called up share capital

    Allotted, called up and paid

    Previous period 2010
    Class Number of shares Nominal value per share Total
    Ordinary shares: 100 1.00
    1.00
    100
    Total share capital: 100
    Current period 2011
    Class Number of shares Nominal value per share Total
    Ordinary shares: 100 1.00
    1.00
    100
    Total share capital: 100