Stewart Hastie Asset Management Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: SC368728

STEWART HASTIE ASSET MANAGEMENT LIMITED

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 30 NOVEMBER 2015

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

D Hastie

REGISTERED OFFICE:

17 Elmbank Street

Glasgow

G2 4PB

REGISTERED NUMBER:

SC368728

ACCOUNTANTS:

Benham Conway & Co

16 Royal Crescent

Glasgow

G3 7SL

FIXED ASSETS

Tangible assets

2

895

1,207

CURRENT ASSETS

Debtors

84,461

33,589

Cash at bank and in hand

43,957

40,871

128,418

74,460

CREDITORS

Amounts falling due within one year

131,966

115,283

NET CURRENT LIABILITIES

(3,548

)

(40,823

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(2,653

)

(39,616

)

CAPITAL AND RESERVES

Called up share capital

3

100

100

Profit and loss account

(2,753

)

(39,716

)

SHAREHOLDERS' FUNDS

(2,653

)

(39,616

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 29 August 2016 and were signed by:

D Hastie - 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 services provided in the year, excluding value added tax.

Tangible fixed assets

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

Plant and machinery

-

33% on cost

Office and computer equipment

-

33% on cost

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.

Pension costs and other post-retirement benefits

The company makes contributions to the director's and an individual employee's personal pension scheme.

Contributions payable are charged to the profit and loss account in the period to which they relate.

Going concern

The director has prepared the accounts on a going concern basis despite there being net liabilities at the balance

sheet as the company has continued to trade and meet all its liabilities as they fall due.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 December 2014

10,630

Additions

700

Disposals

(1,362

)

At 30 November 2015

9,968

DEPRECIATION

At 1 December 2014

9,423

Charge for year

1,012

Eliminated on disposal

(1,362

)

At 30 November 2015

9,073

NET BOOK VALUE

At 30 November 2015

895

At 30 November 2014

1,207

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.11.15

30.11.14

value:

£

£

100

Ordinary

£1

100

100

4.	TRANSACTIONS WITH DIRECTORS