Payment Protection Scotland Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: SC404848 (Scotland)

Abbreviated Unaudited Accounts

for the Period 1 March 2013 to 31 August 2014

for

Payment Protection Scotland Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

S McCann

REGISTERED OFFICE:

272 Bath Street

Glasgow

G2 4JR

REGISTERED NUMBER:

SC404848 (Scotland)

ACCOUNTANTS:

Campbell Dallas LLP

Chartered Accountants

Titanium 1

King's Inch Place

Renfrew

PA4 8WF

FIXED ASSETS

Tangible assets

2

14,372

14,269

CURRENT ASSETS

Debtors

1,704,141

114,635

Cash at bank and in hand

182,212

365,031

1,886,353

479,666

CREDITORS

Amounts falling due within one year

614,839

255,034

NET CURRENT ASSETS

1,271,514

224,632

TOTAL ASSETS LESS CURRENT LIABILITIES

1,285,886

238,901

PROVISIONS FOR LIABILITIES

2,892

3,146

NET ASSETS

1,282,994

235,755

CAPITAL AND RESERVES

Called up share capital

3

1

1

Profit and loss account

1,282,993

235,754

SHAREHOLDERS' FUNDS

1,282,994

235,755

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 August 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 29 May 2015 and were signed by:

S McCann - 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).

Exemption from preparing a cash flow statement

Turnover

Turnover represents net commissions earned during the period exclusive of VAT.

Tangible fixed assets

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

Fixtures and fittings

-

25% on cost

Computer equipment

-

33% on cost

Deferred tax

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 March 2013

18,412

Additions

16,196

Disposals

(317

)

At 31 August 2014

34,291

DEPRECIATION

At 1 March 2013

4,143

Charge for period

15,776

At 31 August 2014

19,919

NET BOOK VALUE

At 31 August 2014

14,372

At 28 February 2013

14,269

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

1

Ordinary shares

£1

-

-

2

Ordinary 50p Shares

50p

1

1

1

1

4.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 31 August 2014

and the year ended 28 February 2013:

2014

2013

£

£

S McCann

Balance outstanding at start of period

-

-

Amounts advanced

114,398

-

Amounts repaid

-

-

Balance outstanding at end of period

114,398

-