Mtel (Scotland) Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: SC220561 (Scotland)

MTEL (SCOTLAND) LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MAY 2014

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Accountants' Report

6

DIRECTOR:

S I Munro

SECRETARY:

Mrs P M Munro

REGISTERED OFFICE:

c/o Hardie Caldwell LLP

Citypoint 2

25 Tyndrum Street

Glasgow

G4 0JY

REGISTERED NUMBER:

SC220561 (Scotland)

ACCOUNTANTS:

Hardie Caldwell Ltd

Citypoint 2

25 Tyndrum Street

GLASGOW

G4 0JY

FIXED ASSETS

Tangible assets

2

808

1,036

Investments

3

99

99

907

1,135

CURRENT ASSETS

Debtors

13,190

9,319

Cash at bank

1,074

2,251

14,264

11,570

CREDITORS

Amounts falling due within one year

15,609

13,477

NET CURRENT LIABILITIES

(1,345

)

(1,907

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(438

)

(772

)

PROVISIONS FOR LIABILITIES

162

102

NET LIABILITIES

(600

)

(874

)

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

(700

)

(974

)

SHAREHOLDERS' FUNDS

(600

)

(874

)

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 26 February 2015 and were signed by:

S I Munro - 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 net invoiced sales of services, excluding value added tax, attributable to the one principal

activity of the company being that of management consultants. Turnover is recognised at the point of raising

sales invoices.

Tangible fixed assets

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

Office equipment

-

15% on reducing balance

Computer equipment

-

33% on reducing balance

Deferred tax

Deferred taxation is provided in full on timing differences which result in an obligation at the balance sheet date

to pay more tax, or a right to pay less tax, at rates expected to apply when they reverse based on current tax rates

and law. Timing differences arise from the inclusion of items of income and expenditure in taxation

computations in periods different from those in which they are included in financial statements. Deferred tax is

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

sell the asset, or on unremitted earnings of subsidiaries, associates or joint ventures where there is no

commitment to remit these earnings. Deferred tax assets are recognised to the extent that it is regarded as more

likely than not that they will be recovered. Deferred tax assets and liabilities are not discounted.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling

at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Going concern

The company has cash resources and has no requirement for external funding. The director has a reasonable

expectation that the company has adequate resources to continue in operational existence for the foreseeable

future. He continues to believe the going concern basis of accounting appropriate in preparing the annual

financial statements.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2013

and 31 May 2014

11,527

DEPRECIATION

At 1 June 2013

10,491

Charge for year

228

At 31 May 2014

10,719

NET BOOK VALUE

At 31 May 2014

808

At 31 May 2013

1,036

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 June 2013

and 31 May 2014

1,712

PROVISIONS

At 1 June 2013

and 31 May 2014

1,613

NET BOOK VALUE

At 31 May 2014

99

At 31 May 2013

99

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

100

Ordinary

£1

100

100

5.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2014 and

31 May 2013:

2014

2013

£

£

S I Munro

Balance outstanding at start of year

6,322

(148

)

Amounts advanced

2,174

6,470

Amounts repaid

-

-

Balance outstanding at end of year

8,496

6,322

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to five)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Mtel (Scotland) Limited for the year ended 31 May 2014 which comprise the Profit and Loss

Account, the Balance Sheet, and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants of Scotland, we are subject to its ethical and

other professional requirements which are detailed at http://www.icas.org.uk/accountspreparationguidance.

This report is made solely to the director of Mtel (Scotland) Limited in accordance with our terms of engagement. Our

work has been undertaken solely to prepare for your approval the financial statements of Mtel (Scotland) Limited and

state those matters that we have agreed to state to the director of Mtel (Scotland) Limited in this report in accordance

with the requirements of the Institute of Chartered Accountants of Scotland as detailed at

http://www.icas.org.uk/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume

responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Mtel (Scotland) Limited has kept adequate accounting records and to prepare statutory

financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Mtel

(Scotland) Limited. You consider that Mtel (Scotland) Limited is exempt from the statutory audit requirement for the

year.

We have not been instructed to carry out an audit or a review of the financial statements of Mtel (Scotland) Limited. For

this reason, we have not verified the accuracy or completeness of the accounting records or information and

explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Hardie Caldwell Ltd

Citypoint 2

25 Tyndrum Street

GLASGOW

G4 0JY

Date: .............................................