JIG Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: SC231093 (Scotland)

Abbreviated Accounts

for the Year Ended 30 September 2014

for

JIG Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

G G H Millar

I W Corner

SECRETARY:

K J McGuckien

REGISTERED OFFICE:

23 Westminster Terrace

Glasgow

G3 7RU

REGISTERED NUMBER:

SC231093 (Scotland)

ACCOUNTANTS:

KAL Accountants

Chartered Certified Accountants

3 Baird Gardens

Blantyre

Glasgow

G72 0WT

FIXED ASSETS

Tangible assets

2

4,944

5,898

CURRENT ASSETS

Stocks

7,000

2,500

Debtors

9,768

19,194

Cash at bank and in hand

2,236

3,005

19,004

24,699

CREDITORS

Amounts falling due within one year

23,900

28,687

NET CURRENT LIABILITIES

(4,896

)

(3,988

)

TOTAL ASSETS LESS CURRENT LIABILITIES

48

1,910

CAPITAL AND RESERVES

Called up share capital

3

100

100

Profit and loss account

(52

)

1,810

SHAREHOLDERS' FUNDS

48

1,910

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 22 June 2015 and were signed on its behalf by:

I W Corner - 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.

Tangible fixed assets

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

Plant and equipment

-

25% on reducing balance

Fixtures and fittings

-

25% on cost

Computer equipment

-

25% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

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.

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 October 2013

20,717

Additions

695

At 30 September 2014

21,412

DEPRECIATION

At 1 October 2013

14,819

Charge for year

1,649

At 30 September 2014

16,468

NET BOOK VALUE

At 30 September 2014

4,944

At 30 September 2013

5,898

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.14

30.9.13

value:

£

£

100

Ordinary

£1.00

100

100