Registered Number 06919598

TERRY MILNER LTD.

Abbreviated Accounts

31 October 2015

TERRY MILNER LTD. Registered Number 06919598

Abbreviated Balance Sheet as at 31 October 2015

Notes 2015 2014
£ £
Fixed assets
Tangible assets 2 322,593 345,822
322,593 345,822
Current assets
Debtors 259,151 146,123
Cash at bank and in hand 55,067 6,273
314,218 152,396
Creditors: amounts falling due within one year (193,385) (126,125)
Net current assets (liabilities) 120,833 26,271
Total assets less current liabilities 443,426 372,093
Creditors: amounts falling due after more than one year (20,409) (28,831)
Provisions for liabilities (41,830) (25,698)
Total net assets (liabilities) 381,187 317,564
Capital and reserves
Called up share capital 1 1
Profit and loss account 381,186 317,563
Shareholders' funds 381,187 317,564
  • For the year ending 31 October 2015 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.

Approved by the Board on 11 March 2016

And signed on their behalf by:
T MILNER, Director

TERRY MILNER LTD. Registered Number 06919598

Notes to the Abbreviated Accounts for the period ended 31 October 2015

1Accounting 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
Turnover comprises revenue recognised by the company in respect of services supplied, exclusive of Value Added Tax.

In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

Tangible assets depreciation policy
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:

Leasehold Property Improvements - 10% straight line basis
Plant & Machinery - 10% reducing balance basis
Fixtures & Fittings - 15% reducing balance basis
Motor Vehicles - 25% reducing balance basis

2Tangible fixed assets
£
Cost
At 1 November 2014 498,588
Additions 21,459
Disposals -
Revaluations -
Transfers -
At 31 October 2015 520,047
Depreciation
At 1 November 2014 152,766
Charge for the year 44,688
On disposals -
At 31 October 2015 197,454
Net book values
At 31 October 2015 322,593
At 31 October 2014 345,822