Registered Number 06919598

TERRY MILNER LTD.

Abbreviated Accounts

31 October 2014

TERRY MILNER LTD. Registered Number 06919598

Abbreviated Balance Sheet as at 31 October 2014

Notes 2014 2013
£ £
Fixed assets
Tangible assets 2 345,822 391,230
345,822 391,230
Current assets
Debtors 146,123 96,126
Cash at bank and in hand 6,273 52,049
152,396 148,175
Creditors: amounts falling due within one year (126,125) (86,904)
Net current assets (liabilities) 26,271 61,271
Total assets less current liabilities 372,093 452,501
Creditors: amounts falling due after more than one year (28,831) (37,253)
Provisions for liabilities (25,698) (14,386)
Total net assets (liabilities) 317,564 400,862
Capital and reserves
Called up share capital 1 1
Profit and loss account 317,563 400,861
Shareholders' funds 317,564 400,862
  • For the year ending 31 October 2014 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 18 February 2015

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 2014

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 2013 495,372
Additions 3,216
Disposals -
Revaluations -
Transfers -
At 31 October 2014 498,588
Depreciation
At 1 November 2013 104,142
Charge for the year 48,624
On disposals -
At 31 October 2014 152,766
Net book values
At 31 October 2014 345,822
At 31 October 2013 391,230