Michael Findlay Peterhead Ltd. - Limited company - abbreviated - 11.6

REGISTERED NUMBER: SC308214 (Scotland)

Abbreviated Unaudited Accounts

for the Year Ended 31 October 2014

for

Michael Findlay Peterhead Ltd.

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

R A Findlay

Mrs P S Findlay

SECRETARY:

Mrs P S Findlay

REGISTERED OFFICE:

19A Blackhouse Circle

Blackhouse Industrial Estate

Peterhead

Aberdeenshire

AB42 1BN

REGISTERED NUMBER:

SC308214 (Scotland)

ACCOUNTANTS:

SBP

Accountants

Glebefield House

21 Links Terrace

Peterhead

Aberdeenshire

AB42 2XA

FIXED ASSETS

Tangible assets

2

5,702

9,384

CURRENT ASSETS

Stocks

6,500

7,000

Debtors

30,956

19,175

Cash at bank

4,075

6,316

41,531

32,491

CREDITORS

Amounts falling due within one year

47,127

41,020

NET CURRENT LIABILITIES

(5,596

)

(8,529

)

TOTAL ASSETS LESS CURRENT LIABILITIES

106

855

CREDITORS

Amounts falling due after more than one year

-

730

NET ASSETS

106

125

CAPITAL AND RESERVES

Called up share capital

3

100

100

Profit and loss account

6

25

SHAREHOLDERS' FUNDS

106

125

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 2 July 2015 and were signed on its behalf by:

R A Findlay - 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 sales of goods and services, and is stated exclusive of 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant & machinery - 20% reducing balance

Motor vehicles - 25% reducing balance

Computer equipment - 33% 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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2013

23,656

Disposals

(3,300

)

At 31 October 2014

20,356

DEPRECIATION

At 1 November 2013

14,272

Charge for year

1,826

Eliminated on disposal

(1,444

)

At 31 October 2014

14,654

NET BOOK VALUE

At 31 October 2014

5,702

At 31 October 2013

9,384

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.14

31.10.13

value:

£

£

100

Ordinary

£1

100

100

4.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The company provided both directors with a current account on which cash advances were made. The

amount advanced was £14,877 ( £8,926 and £5,951 each ) and this amount remained outstanding at the

year end.