James W. Kerr Limited - Limited company - abbreviated

REGISTERED NUMBER: SC029941 (Scotland)

Abbreviated Accounts for the Year Ended 31 May 2014

for

James W. Kerr Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

Mrs. G F Kerr

T W Kerr

M Kerr

SECRETARY:

Mrs. G F Kerr

REGISTERED OFFICE:

237 Morningside Road

Edinburgh

EH10 4QU

REGISTERED NUMBER:

SC029941 (Scotland)

ACCOUNTANTS:

Neil Nisbet & Co.

15A Great Stuart Street

Edinburgh

EH3 7TP

FIXED ASSETS

Tangible assets

2

63,879

64,822

CURRENT ASSETS

Stocks

52,604

48,779

Debtors

4,321

4,093

Cash at bank and in hand

35,712

41,705

92,637

94,577

CREDITORS

Amounts falling due within one year

125,523

129,076

NET CURRENT LIABILITIES

(32,886

)

(34,499

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

30,993

30,323

PROVISIONS FOR LIABILITIES

5,400

5,175

NET ASSETS

25,593

25,148

CAPITAL AND RESERVES

Called up share capital

3

25,000

Profit and loss account

593

148

SHAREHOLDERS' FUNDS

25,593

25,148

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 directors acknowledge their 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 Board of Directors on 27 February 2015 and were signed on its behalf
by:

Mrs. G F Kerr - 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 income from operating activities, 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.

Land and buildings

-

2% on cost

Plant and machinery etc

-

25% on reducing balance and 15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2013

207,519

Additions

5,383

At 31 May 2014

212,902

DEPRECIATION

At 1 June 2013

142,697

Charge for year

6,326

At 31 May 2014

149,023

NET BOOK VALUE

At 31 May 2014

63,879

At 31 May 2013

64,822

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.14

31.5.13

value:

£

12,500

'A'Ordinary

£1

12,500

12,400

'B'Ordinary

£1

12,400

100

'C'Ordinary

£1

100

25,000

James W. Kerr Limited - Limited company - abbreviated - 11.6

James W. Kerr Limited - Limited company - abbreviated - 11.6