Page 172 - (B) COMBO FILES REF_2

Mitre House Management Limited
Notes to the Financial Statements
for the Period 5 August 2011 to 31 December 2012
1. ACCOUNTING POLICIES
Accounting convention
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
Turnover represents net invoiced sales of services, excluding value added tax.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
2. OPERATING PROFIT
The operating profit is stated after charging:
Directors' remuneration and other benefits etc
3. TAXATION
Analysis of the tax charge
The tax charge on the profit on ordinary activities for the period was as follows:
Current tax:
UK corporation tax
Tax on profit on ordinary activities
UK corporation tax has been charged at 20%.
4. TANGIBLE FIXED ASSETS
COST
Additions
At 31 December 2012
NET BOOK VALUE
At 31 December 2012
5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Tax
Directors' current accounts
£
£
Long leasehold
£ 7,655 7,655
7,655
£ 5,235
£ 2,393
387 9,823
12,603
-
387 387
Page 5
continued...