PM Houston Electrical Ltd - Abbreviated accounts 16.1

REGISTERED NUMBER: SC345817 (Scotland)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 JULY 2015

FOR

PM HOUSTON ELECTRICAL LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

Ms D S Nikolova

REGISTERED OFFICE:

6th Floor, Gordon Chambers

90 Mitchell Street

Glasgow

G1 3NQ

REGISTERED NUMBER:

SC345817 (Scotland)

ACCOUNTANTS:

Henderson Loggie

90 Mitchell Street

Glasgow

Lanarkshire

G1 3NQ

FIXED ASSETS

Tangible assets

2

13,535

4,008

CURRENT ASSETS

Work-in-progress

21,258

20,160

Debtors

14,606

12,736

Cash at bank

64,745

13,813

100,609

46,709

CREDITORS

Amounts falling due within one year

48,162

50,209

NET CURRENT ASSETS/(LIABILITIES)

52,447

(3,500

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

65,982

508

CAPITAL AND RESERVES

Called up share capital

3

13

Profit and loss account

65,969

495

SHAREHOLDERS' FUNDS

65,982

508

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2015 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 28 April 2016 and were signed by:

Ms D S Nikolova - 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 the amounts derived from the provision of goods and services which fall within the

company's ordinary activities and is stated net of Value Added Tax. Revenue is recognised on the despatch of

goods.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Motor vehicles

-

25% on a reducing balance basis

Work-in-progress

Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax

The tax expense represents the sum of the corporation tax and deferred tax charge for the year.

The tax currently payable is based on taxable profit for the year. The company's liability for current tax is

calculated using the tax rates that have been enacted or substantively enacted by the balance sheet date.

Deferred tax is measured on differences between the carrying amounts of assets and liabilities in the accounts

and the corresponding tax bases, as used in the computation of taxable profit. Deferred tax liabilities are

generally recognised for all temporary timing differences that have originated but not reversed by the balance

sheet date and are not recognised as permanent differences. Deferred tax assets are recognised to the extent that

it is probable that taxable profits will be available in the future. Deferred tax is calculated at the average tax

rates that are expected to apply in the periods in which the timing differences are expected to reverse, based on

tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax is

charged or credited in the profit and loss account, except when it relates to items charged or credited directly to

equity, in which case the deferred tax is also dealt with in equity.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 August 2014

15,730

Additions

14,039

At 31 July 2015

29,769

DEPRECIATION

At 1 August 2014

11,722

Charge for year

4,512

At 31 July 2015

16,234

NET BOOK VALUE

At 31 July 2015

13,535

At 31 July 2014

4,008

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

10

Ordinary Shares

£1

10

3

A-J Ordinary Shares

£1

3

13