Turriff Printing Services Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: SC083612 (Scotland)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 OCTOBER 2014

FOR

TURRIFF PRINTING SERVICES LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

R McLeod

Mrs I M M Mcleod

SECRETARY:

Mrs I M M Mcleod

REGISTERED OFFICE:

Grant Smith Law Practice

Amicable House

252 Union Street

Aberdeen

AB10 1TN

REGISTERED NUMBER:

SC083612 (Scotland)

FIXED ASSETS

Tangible assets

2

84,926

97,764

CURRENT ASSETS

Stocks

1,960

2,722

Debtors

126,483

100,677

Cash at bank and in hand

4,246

3,743

132,689

107,142

CREDITORS

Amounts falling due within one year

3

94,145

120,030

NET CURRENT ASSETS/(LIABILITIES)

38,544

(12,888

)

TOTAL ASSETS LESS CURRENT LIABILITIES

123,470

84,876

CREDITORS

Amounts falling due after more than one year

3

(23,424

)

(35,017

)

PROVISIONS FOR LIABILITIES

(8,661

)

(10,321

)

NET ASSETS

91,385

39,538

CAPITAL AND RESERVES

Called up share capital

4

9,000

9,000

Profit and loss account

82,385

30,538

SHAREHOLDERS' FUNDS

91,385

39,538

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 6 April 2015 and were signed on its behalf by:

R McLeod - Director

Mrs I M M Mcleod - 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 goods, excluding value added tax, except in respect of service contracts

where turnover is recognised when the company obtains the right to consideration.

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

-

4% on cost

Plant and machinery etc

-

25% on reducing balance, 15% on reducing balance and 20%-33 1-3% on cost

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 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 which is result in an obligation to pay more or (less tax) 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.

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.

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their useful lives or the term of the lease, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2013

and 31 October 2014

369,575

DEPRECIATION

At 1 November 2013

271,811

Charge for year

12,838

At 31 October 2014

284,649

NET BOOK VALUE

At 31 October 2014

84,926

At 31 October 2013

97,764

3.

CREDITORS

Creditors include an amount of £ 51,833 (2013 - £ 81,574 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

9,000

Ordinary

£1

9,000

9,000