James W. Kerr Limited - Limited company - abbreviated

REGISTERED NUMBER: SC029941 (Scotland)

Abbreviated Accounts for the Year Ended 31 May 2015

for

James W. Kerr Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

Mrs. G F Kerr

T W Kerr

M Kerr

SECRETARY:

Mrs. G F Kerr

REGISTERED OFFICE:

237 Morningside Road

Edinburgh

EH10 4QU

REGISTERED NUMBER:

SC029941 (Scotland)

ACCOUNTANTS:

Neil Nisbet & Co.

2nd Floor

Thain House

226 Queensferry Road

Edinburgh

EH4 2BP

FIXED ASSETS

Tangible assets

2

59,208

63,879

CURRENT ASSETS

Stocks

47,677

52,604

Debtors

-

4,321

Cash at bank and in hand

32,974

35,712

80,651

92,637

CREDITORS

Amounts falling due within one year

109,026

125,523

NET CURRENT LIABILITIES

(28,375

)

(32,886

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

30,833

30,993

PROVISIONS FOR LIABILITIES

4,850

5,400

NET ASSETS

25,983

25,593

CAPITAL AND RESERVES

Called up share capital

3

25,000

Profit and loss account

983

593

SHAREHOLDERS' FUNDS

25,983

25,593

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2015 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 26 February 2016 and were signed on its behalf
by:

Mrs. G F Kerr - 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 income from operating activities, 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.

Land and buildings

-

2% on cost

Plant and machinery etc

-

25% on reducing balance and 15% 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

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 June 2014

212,902

Additions

821

At 31 May 2015

213,723

DEPRECIATION

At 1 June 2014

149,023

Charge for year

5,492

At 31 May 2015

154,515

NET BOOK VALUE

At 31 May 2015

59,208

At 31 May 2014

63,879

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.15

31.5.14

value:

£

12,500

'A'Ordinary

£1

12,500

12,400

'B'Ordinary

£1

12,400

100

'C'Ordinary

£1

100

25,000

James W. Kerr Limited - Limited company - abbreviated - 11.9

James W. Kerr Limited - Limited company - abbreviated - 11.9