Frank S. McLean & Son Limited - Limited company - abbreviated - 11.9
Frank S. McLean & Son Limited - Limited company - abbreviated - 11.9
REGISTERED NUMBER: |
Abbreviated Unaudited Accounts for the Year Ended 28 February 2015 |
for |
Frank S. McLean & Son Limited |
Frank S. McLean & Son Limited (Registered number: SC330401) |
Contents of the Abbreviated Accounts |
for the Year Ended 28 February 2015 |
Page |
Company Information | 1 |
Abbreviated Balance Sheet | 2 |
Notes to the Abbreviated Accounts | 4 |
Chartered Accountants' Report | 6 |
Frank S. McLean & Son Limited |
Company Information |
for the Year Ended 28 February 2015 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
SOLICITORS: |
Frank S. McLean & Son Limited (Registered number: SC330401) |
Abbreviated Balance Sheet |
28 February 2015 |
28.2.15 | 28.2.14 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 2 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 3 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
3 |
( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 4 |
Profit and loss account |
SHAREHOLDERS' FUNDS |
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. |
Frank S. McLean & Son Limited (Registered number: SC330401) |
Abbreviated Balance Sheet - continued |
28 February 2015 |
The financial statements were approved by the Board of Directors on |
Frank S. McLean & Son Limited (Registered number: SC330401) |
Notes to the Abbreviated Accounts |
for the Year Ended 28 February 2015 |
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 |
Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a |
small company. |
Turnover |
Turnover represents net invoiced sales of goods, excluding value added tax. |
Tangible fixed assets |
Tenants improvements | - |
Plant and machinery | - |
Motor vehicles | - |
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. |
Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads. |
Deferred tax |
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment |
of certain items for taxation and accounting purposes. Deferred taxation is calculated at the rates of tax that are |
expected to apply in the periods when the timing differences will reverse and has not been discounted. |
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. |
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. |
Frank S. McLean & Son Limited (Registered number: SC330401) |
Notes to the Abbreviated Accounts - continued |
for the Year Ended 28 February 2015 |
2. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 March 2014 |
Additions |
Disposals | ( |
) |
At 28 February 2015 |
DEPRECIATION |
At 1 March 2014 |
Charge for year |
Eliminated on disposal | ( |
) |
At 28 February 2015 |
NET BOOK VALUE |
At 28 February 2015 |
At 28 February 2014 |
3. | CREDITORS |
Creditors include an amount of £ |
4. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 28.2.15 | 28.2.14 |
value: | £ | £ |
Ordinary | 1.00 |
5. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the years ended 28 February 2015 and |
28 February 2014: |
28.2.15 | 28.2.14 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Balance outstanding at end of year |
The above loan is unsecured, interest free and has no fixed repayment terms. |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Frank S. McLean & Son Limited |
The following reproduces the text of the report prepared for the directors 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. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of Frank S. McLean & Son Limited for the year ended 28 February 2015 which comprise the Profit |
and Loss Account, the Balance Sheet, and the related notes from the company's accounting records and from information |
and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants of Scotland, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.org.uk/accountspreparationguidance. |
This report is made solely to the Board of Directors of Frank S. McLean & Son Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Frank S. McLean & Son Limited and state those matters that we have agreed to state to the Board of Directors of Frank S. McLean & Son Limited, as a body, in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at http://www.icas.org.uk/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Frank S. McLean & Son Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Frank S. McLean & Son Limited. You consider that Frank S. McLean & Son Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of Frank S. McLean & Son |
Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and |
explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
23 October 2015 |