D.v. Mccoll Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: SC068824 (Scotland)

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

FOR

D.V. MCCOLL LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

Mr Neil Murdoch McColl

Mr Colin Burns

SECRETARY:

Isobel Vance McCrossan

REGISTERED OFFICE:

Alexander Graham Bell House

Sholto Crescent

Righead Industrial Estate

Bellshill

Lanarkshire

ML4 3LX

REGISTERED NUMBER:

SC068824 (Scotland)

ACCOUNTANTS:

Feely & Company, Chartered Accountants

165 Main Street

Wishaw

Lanarkshire

ML2 7AU

FIXED ASSETS

Tangible assets

2

140,578

108,645

CURRENT ASSETS

Stocks

1,387,203

1,207,320

Debtors

442,654

387,236

Cash in hand

397

290

1,830,254

1,594,846

CREDITORS

Amounts falling due within one year

1,446,434

1,334,349

NET CURRENT ASSETS

383,820

260,497

TOTAL ASSETS LESS CURRENT LIABILITIES

524,398

369,142

CREDITORS

Amounts falling due after more than one year

50,421

25,762

NET ASSETS

473,977

343,380

CAPITAL AND RESERVES

Called up share capital

3

2,000

Profit and loss account

471,977

341,380

SHAREHOLDERS' FUNDS

473,977

343,380

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 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 15 June 2016 and were signed on its behalf by:

Mr Neil Murdoch McColl - 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 sales of goods and services, 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.

Plant and machinery

-

15% on reducing balance

Equipment, Furniture etc

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Office Fixtures

-

at variable rates on reducing balance

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 tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date, only in those

situations where the amount is deemed to be significant.

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.

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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

205,265

Additions

73,767

Disposals

(33,503

)

At 31 March 2016

245,529

DEPRECIATION

At 1 April 2015

96,620

Charge for year

31,352

Eliminated on disposal

(23,021

)

At 31 March 2016

104,951

NET BOOK VALUE

At 31 March 2016

140,578

At 31 March 2015

108,645

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

2,000

Ordinary

£1

2,000