George Andrew (Engineers) Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: SC372570 (Scotland)

Abbreviated Unaudited Accounts for the Year Ended 31 March 2014

for

George Andrew (Engineers) Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Accountants' Report

6

DIRECTORS:

N Andrew

I Andrew

N L Andrew

SECRETARY:

N Andrew

REGISTERED OFFICE:

55-57 West High Street

INVERURIE

AB51 3QQ

REGISTERED NUMBER:

SC372570 (Scotland)

ACCOUNTANTS:

Atholl Scott

Chartered Accountants

55-57 West High Street

INVERURIE

AB51 3QQ

FIXED ASSETS

Intangible assets

2

1,089,502

1,141,383

Tangible assets

3

457,823

437,251

1,547,325

1,578,634

CURRENT ASSETS

Stocks

12,309

11,575

Debtors

218,413

201,027

Cash at bank and in hand

241,961

188,506

472,683

401,108

CREDITORS

Amounts falling due within one year

(1,424,225

)

(1,627,017

)

NET CURRENT LIABILITIES

(951,542

)

(1,225,909

)

TOTAL ASSETS LESS CURRENT LIABILITIES

595,783

352,725

PROVISIONS FOR LIABILITIES

(9,277

)

(2,876

)

NET ASSETS

586,506

349,849

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

586,406

349,749

SHAREHOLDERS' FUNDS

586,506

349,849

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2014 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 9 July 2014 and were signed on its behalf by:

N Andrew - 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 amounts receivable for goods sold and services rendered

during the year, exclusive of value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of twenty five years.

Tangible fixed assets

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

Freehold property

-

2% on cost

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% 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

The payment of taxation is deferred or accelerated because of timing

differences between the treatment of certain items for accounting and

taxation purposes. Deferred tax assets are recognised only to the extent

that they will be recovered against the reversal of deferred tax

liabilities or other future taxable profits. Full provision for deferred

taxation is made under the liability method, without discounting, on all

timing differences that have arisen, but not reversed by the balance sheet

date, unless such provision is not permitted by accounting standards.

In accordance with such standards deferred tax is not provided for:

a) revaluation gains on land and buildings, unless there is a binding

agreement to sell them at the balance sheet date; and

b) gains on the sale of non-monetary assets, if the taxable gain will

probably be rolled over.

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.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

and 31 March 2014

1,297,026

AMORTISATION

At 1 April 2013

155,643

Amortisation for year

51,881

At 31 March 2014

207,524

NET BOOK VALUE

At 31 March 2014

1,089,502

At 31 March 2013

1,141,383

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

478,332

Additions

38,966

At 31 March 2014

517,298

DEPRECIATION

At 1 April 2013

41,081

Charge for year

18,394

At 31 March 2014

59,475

NET BOOK VALUE

At 31 March 2014

457,823

At 31 March 2013

437,251

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.14

31.3.13

value:

£

£

100

Ordinary

£1

100

100

5.	ULTIMATE CONTROLLING PARTY

The following reproduces the text of the report prepared for the directors in

respect of the company's annual unaudited financial statements, from which the

unaudited abbreviated accounts (set out on pages two to five) have been

prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we

have prepared for your approval the financial statements of George Andrew

(Engineers) Limited for the year ended 31 March 2014 which comprise the Profit

and Loss Account, the Balance Sheet, and the related notes from the company's

accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants of

Scotland, we are subject to its ethical and other professional requirements

which are detailed at http://www.icas.org.uk/accountspreparationguidance.

This report is made solely to the Board of Directors of George Andrew

(Engineers) Limited, as a body, in accordance with our terms of engagement. Our

work has been undertaken solely to prepare for your approval the financial

statements of George Andrew (Engineers) Limited and state those matters that we

have agreed to state to the Board of Directors of George Andrew (Engineers)

Limited, as a body, in this report in accordance with the requirements of the

Institute of Chartered Accountants of Scotland as detailed at

http://www.icas.org.uk/accountspreparationguidance. To the fullest extent

permitted by law, we do not accept or assume responsibility to anyone other than

the company and its Board of Directors, as a body, for our work or for this

report.

It is your duty to ensure that George Andrew (Engineers) Limited has kept

adequate accounting records and to prepare statutory financial statements that

give a true and fair view of the assets, liabilities, financial position and

profit of George Andrew (Engineers) Limited. You consider that George Andrew

(Engineers) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial

statements of George Andrew (Engineers) Limited. For this reason, we have not

verified the accuracy or completeness of the accounting records or information

and explanations you have given to us and we do not, therefore, express any

opinion on the statutory financial statements.

Atholl Scott

Chartered Accountants

55-57 West High Street

INVERURIE

AB51 3QQ

14 July 2014