John Mackie Automatic Transmissions Ltd - Limited company - abbreviated - 11.9

REGISTERED NUMBER: SC160655 (Scotland)

Abbreviated Accounts for the Year Ended 30 June 2015

for

JOHN MACKIE AUTOMATIC TRANSMISSIONS

LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Accountants' Report

6

DIRECTOR:

J W H Mackie

SECRETARY:

Mrs K Brown

REGISTERED OFFICE:

95 Causewayside Street

Tollcross

Glasgow

G32 8LT

REGISTERED NUMBER:

SC160655 (Scotland)

ACCOUNTANTS:

G O Thomson & Co

Chartered Accountants

13 Hope Street

Lanark

ML11 7NL

FIXED ASSETS

Tangible assets

2

213,911

227,163

CURRENT ASSETS

Stocks

165,267

107,598

Debtors

224,731

217,020

Cash at bank and in hand

1,238

1,015

391,236

325,633

CREDITORS

Amounts falling due within one year

3

345,720

311,280

NET CURRENT ASSETS

45,516

14,353

TOTAL ASSETS LESS CURRENT LIABILITIES

259,427

241,516

CREDITORS

Amounts falling due after more than one year

3

176,776

145,194

NET ASSETS

82,651

96,322

CAPITAL AND RESERVES

Called up share capital

4

5,000

5,000

Profit and loss account

77,651

91,322

SHAREHOLDERS' FUNDS

82,651

96,322

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2015 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 20 January 2016 and were signed by:

J W H Mackie - 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

10% on cost

Plant and machinery

-

10% on reducing balance

Fixtures and fittings

-

10% 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.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2014

486,625

Additions

14,710

Disposals

(8,779

)

At 30 June 2015

492,556

DEPRECIATION

At 1 July 2014

259,462

Charge for year

25,688

Eliminated on disposal

(6,505

)

At 30 June 2015

278,645

NET BOOK VALUE

At 30 June 2015

213,911

At 30 June 2014

227,163

3.

CREDITORS

Creditors include an amount of £ 90,169 (2014 - £ 133,755 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

5,000

Ordinary

£1

5,000

5,000

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.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of John Mackie Automatic Transmissions Limited for the year ended 30 June 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 director of John Mackie Automatic Transmissions Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of John Mackie Automatic Transmissions Limited and state those matters that we have agreed to state to the director of John Mackie Automatic Transmissions Limited 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 director for our work or for this report.

It is your duty to ensure that John Mackie Automatic Transmissions 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 John Mackie Automatic Transmissions Limited. You consider that John Mackie Automatic Transmissions 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 John Mackie Automatic

Transmissions 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.

G O Thomson & Co

Chartered Accountants

13 Hope Street

Lanark

ML11 7NL

20 January 2016