Linn Electrics Ltd - Abbreviated accounts 16.1

REGISTERED NUMBER: SC455397 (Scotland)

ABBREVIATED ACCOUNTS FOR THE YEAR ENDED 31 JULY 2015

FOR

LINN ELECTRICS LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

K Welsh

Mrs L Welsh

SECRETARY:

Mrs L Welsh

REGISTERED OFFICE:

38 Skylands Rise

Hamilton

ML3 8TS

REGISTERED NUMBER:

SC455397 (Scotland)

ACCOUNTANTS:

Cheetham & Co

Chartered Accountants

Homelea House

Faith Avenue

Quarriers Village

Bridge of Weir

Renfrewshire

PA11 3TF

FIXED ASSETS

Tangible assets

2

6,731

8,975

CURRENT ASSETS

Debtors

36,525

25,783

Cash at bank

12,739

20,419

49,264

46,202

CREDITORS

Amounts falling due within one year

(54,644

)

(24,143

)

NET CURRENT (LIABILITIES)/ASSETS

(5,380

)

22,059

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,351

31,034

PROVISIONS FOR LIABILITIES

(1,346

)

(1,795

)

NET ASSETS

5

29,239

CAPITAL AND RESERVES

Called up share capital

3

1

Profit and loss account

4

29,238

SHAREHOLDERS' FUNDS

5

29,239

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 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 28 April 2016 and were signed on its
behalf by:

K Welsh - 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 January 2015).

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.

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed

at the balance sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 August 2014

and 31 July 2015

11,332

DEPRECIATION

At 1 August 2014

2,357

Charge for year

2,244

At 31 July 2015

4,601

NET BOOK VALUE

At 31 July 2015

6,731

At 31 July 2014

8,975

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number

Class:

Nominal

Value

£

80

Ordinary

1p

0.80

10

A Ordinary

1p

0.10

10

B Ordinary

1p

0.10

1.00

4.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 31 July 2015 and

the period ended 31 July 2014:

2015

2014

£

K Welsh

Balance outstanding at start of year

25,451

-

Amounts repaid

(29,586

)

-

Balance outstanding at end of year

(4,135

)

25,451