Proserv (Scotland) Ltd. - Limited company - abbreviated - 11.6

Proserv (Scotland) Ltd. - Limited company - abbreviated - 11.6

PROSERV (SCOTLAND) LTD. - Company Information

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REGISTERED NUMBER: SC240144 (Scotland)











































ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2014

FOR

PROSERV (SCOTLAND) LTD.

PROSERV (SCOTLAND) LTD. (REGISTERED NUMBER: SC240144)






CONTENTS OF THE ABBREVIATED ACCOUNTS
for the Year Ended 31 December 2014




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3

Report of the Accountants 6

PROSERV (SCOTLAND) LTD.

COMPANY INFORMATION
for the Year Ended 31 December 2014







DIRECTOR: M Rochfort





REGISTERED OFFICE: Unit 11 Blackburn Industrial Estate
Woodside Road
Blackburn
Aberdeenshire
AB21 0RX





REGISTERED NUMBER: SC240144 (Scotland)





ACCOUNTANTS: Acumen Accountants and Advisors Limited
Bon Accord House
Riverside Drive
Aberdeen
Aberdeenshire
AB11 7SL
Page 1
PROSERV (SCOTLAND) LTD. (REGISTERED NUMBER: SC240144)

ABBREVIATED BALANCE SHEET
31 December 2014

2014 2013
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 2 9,971 21,134
Tangible assets 3 161,067 288,286
171,038 309,420

CURRENT ASSETS
Stocks 367,453 284,491
Debtors 493,539 343,499
Cash at bank and in hand 48 30,435
861,040 658,425
CREDITORS
Amounts falling due within one year 4 452,531 391,171
NET CURRENT ASSETS 408,509 267,254
TOTAL ASSETS LESS CURRENT LIABILITIES 579,547 576,674

CREDITORS
Amounts falling due after more than one year (652,909 ) (472,510 )

PROVISIONS FOR LIABILITIES (7,376 ) (16,181 )
NET (LIABILITIES)/ASSETS (80,738 ) 87,983

CAPITAL AND RESERVES
Called up share capital 5 20 20
Profit and loss account (80,758 ) 87,963
SHAREHOLDERS' FUNDS (80,738 ) 87,983

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 30 September 2015 and were signed by:




M Rochfort - Director


The notes form part of these abbreviated accounts

Page 2
PROSERV (SCOTLAND) LTD. (REGISTERED NUMBER: SC240144)

NOTES TO THE ABBREVIATED ACCOUNTS
for the Year Ended 31 December 2014

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
The director confirms that it is appropriate for the financial statements to have been prepared on a going concern basis. The director has
given the commitment to continue to support the company via the intercompany balance with The Property Management Company
(Aberdeen) Limited. The director in reaching this conclusion has taken into account that the company going forward is making suitable
trading profits and has access to funds to cover current liabilities.

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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of four years.

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.

Improvements to property - 20% on cost
Plant and machinery - 25% on cost and 20% on cost
Fixtures and fittings - 33% on cost and 25% on cost
Motor vehicles - 20% on cost

Stocks
Stocks and Work-in-progress 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 in an obligation to
pay more (or less) 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
Assets obtained under hire purchase contracts are capitalised in the balance sheet and depreciated over their useful lives. Interest is
charged to the profit and loss account on a straight line basis over the period of the contract. Payments in respect of operating leases are
charged to the profit and loss account when they occur.

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.

Page 3 continued...
PROSERV (SCOTLAND) LTD. (REGISTERED NUMBER: SC240144)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
for the Year Ended 31 December 2014

2. INTANGIBLE FIXED ASSETS
Total
£   
COST
At 1 January 2014
and 31 December 2014 44,655
AMORTISATION
At 1 January 2014 23,521
Amortisation for year 11,163
At 31 December 2014 34,684
NET BOOK VALUE

At 31 December 2014 9,971
At 31 December 2013 21,134

3. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 January 2014 604,907
Additions 41,854
Disposals (113,145 )
At 31 December 2014 533,616
DEPRECIATION
At 1 January 2014 316,621
Charge for year 110,668
Eliminated on disposal (54,740 )
At 31 December 2014 372,549
NET BOOK VALUE
At 31 December 2014 161,067
At 31 December 2013 288,286

4. CREDITORS

Creditors include an amount of £ 25,657 for which security has been given.

They also include the following debts falling due in more than five years:

2014 2013
£    £   
Repayable by instalments - 56,296

5. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2014 2013
value: £    £   
20 Ordinary £1 20 20

Page 4 continued...
PROSERV (SCOTLAND) LTD. (REGISTERED NUMBER: SC240144)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
for the Year Ended 31 December 2014

6. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2014 and 31 December 2013:

2014 2013
£    £   
M Rochfort
Balance outstanding at start of year 20,466 46,094
Amounts advanced 23,996 59,119
Amounts repaid (43,154 ) (84,747 )
Balance outstanding at end of year 1,308 20,466

Interest is charged in relation to this loan at 4%. There is no fixed terms of repayment.

7. RELATED PARTY DISCLOSURES

The company's director M Rochfort also controls Driftwood Investments Ltd. At 31 December 2014 there was a loan balance due to the
company of £1,338 (2013 : £1,338). No interest was charged in relation to this loan.

The company's director M Rochfort also controls Driftwood Investments Limited (referred to as Driftwood UK). During the year the company sold two vehicles to Driftwood UK for a total of £11,803 (2013 : £Nil), this amount was due in full to the company at the year end. During the year Driftwood UK also provided the company with services amounting to £59,415 (2013 : £Nil). At 31 December 2014 the company was due Driftwood UK £38,601 (2013 : £Nil) in relation to these services .

The company's director M Rochfort also controls The Property Management Company (Aberdeen) Limited (referred to as PMC). During the year the company provided services to PMC amounting to £619,051 (2013: £622,122). Also during the year the company also sold PMC a vehicle for £5,000 (2013 : £Nil). At 31 December 2014 PMC had made payments in advance for the services to be received and a balance is due from the company to PMC of £168,792 (2013: Balance due from PMC: £27,020) in relation to these services and vehicle sale.

During the year PMC provided the company with invoices for services amounting to £47,042 (2013: £27,631). In the prior year PMC also sold to the company a vehicle for £6,250 . At the year end the company was due PMC £123,117 (2013: £66,667) in relation to these
services.

The companies also operate a long term interest free intercompany loan. At the year end the company was due PMC £335,578 (2013: £330,757) in relation to this loan .

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is M Rochfort.


Page 5
PROSERV (SCOTLAND) LTD.

REPORT OF THE ACCOUNTANTS TO THE DIRECTOR OF
PROSERV (SCOTLAND) LTD.

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial
statements, from which the unaudited abbreviated accounts (set out on pages two to five) have been prepared.

As described on the balance sheet you are responsible for the preparation of the financial statements for the year ended 31 December 2014 set out on pages three to ten and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Acumen Accountants and Advisors Limited
Bon Accord House
Riverside Drive
Aberdeen
Aberdeenshire
AB11 7SL


Date: 30 September 2015

This page does not form part of the abbreviated accounts

Page 6