X And O's Paisley Cross Ltd. - Limited company - abbreviated - 11.6

REGISTERED NUMBER: SC235157 (Scotland)

Abbreviated Accounts

for the Year Ended 31 May 2014

for

X And O's Paisley Cross Ltd.

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

J Graham

SECRETARY:

Mrs E Graham

REGISTERED OFFICE:

Radleigh House

1 Golf Road

Clarkston

GLASGOW

G76 7HU

REGISTERED NUMBER:

SC235157 (Scotland)

ACCOUNTANTS:

O'Haras Chartered Accountants

Radleigh House

1 Golf Road

Clarkston

Glasgow

G76 7HU

FIXED ASSETS

Tangible assets

2

296,992

305,074

CURRENT ASSETS

Debtors

13,786

3,757

Cash at bank and in hand

48,059

37,992

61,845

41,749

CREDITORS

Amounts falling due within one year

22,025

47,193

NET CURRENT ASSETS/(LIABILITIES)

39,820

(5,444

)

TOTAL ASSETS LESS CURRENT LIABILITIES

336,812

299,630

CREDITORS

Amounts falling due after more than one year

23,360

20,205

NET ASSETS

313,452

279,425

CAPITAL AND RESERVES

Called up share capital

3

2

2

Profit and loss account

313,450

279,423

SHAREHOLDERS' FUNDS

313,452

279,425

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 30 September 2014 and were signed by:

J Graham - Director

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 the amounts derived from the provision of goods and services, excluding value added tax

and trade discounts.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on cost

Improvements to property

-

2% on cost

Plant and machinery

-

15% on reducing balance

Deferred tax

Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods

different from those in which they are included in the company's accounts. Deferred tax is provided in full on

timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates

that are expected to apply when the timing differences reverse, based on current tax rates and laws.

Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no

commitment to sell the asset.

Deferred tax assets and liabilities are not discounted.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2013

489,952

Additions

19,118

Disposals

(5,280

)

At 31 May 2014

503,790

DEPRECIATION

At 1 June 2013

184,878

Charge for year

21,920

At 31 May 2014

206,798

NET BOOK VALUE

At 31 May 2014

296,992

At 31 May 2013

305,074

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

2

Ordinary

£1

2

2