A J McLeod Ltd. - Limited company - abbreviated - 11.6

REGISTERED NUMBER: SC329751 (Scotland)

Abbreviated Accounts for the Year Ended 31 August 2014

for

A J McLeod Ltd.

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

A J McLeod

SECRETARY:

Mrs J McLeod

REGISTERED OFFICE:

Suite 1A, Willow House

Stoneyfield Business Park

Inverness

Highland

IV2 7PA

REGISTERED NUMBER:

SC329751 (Scotland)

ACCOUNTANTS:

Highland Accountancy Practice

Chartered Accountants

Suite 1A, Willow House

Stoneyfield Business Park

Inverness

Highland

IV2 7PA

FIXED ASSETS

Tangible assets

2

24,805

18,278

CURRENT ASSETS

Stocks

3,500

3,384

Debtors

17,788

46,571

21,288

49,955

CREDITORS

Amounts falling due within one year

28,848

29,594

NET CURRENT (LIABILITIES)/ASSETS

(7,560

)

20,361

TOTAL ASSETS LESS CURRENT LIABILITIES

17,245

38,639

CREDITORS

Amounts falling due after more than one year

(15,707

)

(12,157

)

PROVISIONS FOR LIABILITIES

(4,459

)

(3,043

)

NET (LIABILITIES)/ASSETS

(2,921

)

23,439

CAPITAL AND RESERVES

Called up share capital

3

2

2

Profit and Loss Account

(2,923

)

23,437

SHAREHOLDERS' FUNDS

(2,921

)

23,439

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

The members have not required the company to obtain an audit of its financial statements for the year 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 28 June 2015 and were signed by:

A J McLeod - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

As at the balance sheet date the company's liabilities exceeded its assets by £2,921 (2013 - nil). Given the

continued support of the directors the accounts have been prepared on the going concern basis.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and Machinery

-

15% on reducing balance

Motor Vehicles

-

25% 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

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 estimated useful lives or the lease term, 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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2013

30,037

Additions

15,025

Disposals

(2,341

)

At 31 August 2014

42,721

DEPRECIATION

At 1 September 2013

11,759

Charge for year

8,047

Eliminated on disposal

(1,890

)

At 31 August 2014

17,916

NET BOOK VALUE

At 31 August 2014

24,805

At 31 August 2013

18,278

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.14

31.8.13

value:

£

£

2

Ordinary

£1

2

2