James Harper Electrical Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: SC243720 (Scotland)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 29 FEBRUARY 2016

FOR

JAMES HARPER ELECTRICAL LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

Chartered Accountants' Report

5

DIRECTORS:

J E Harper

J W H Harper

SECRETARY:

Mrs A S Harper

REGISTERED OFFICE:

19 Wellington Square

Ayr

KA7 1EZ

REGISTERED NUMBER:

SC243720 (Scotland)

ACCOUNTANTS:

McLay, McAlister & McGibbon (Ayr) Ltd

19 Wellington Square

Ayr

Ayrshire

KA7 1EZ

FIXED ASSETS

Intangible assets

2

21,000

24,000

Tangible assets

3

15,450

11,796

36,450

35,796

CURRENT ASSETS

Stocks

570

580

Debtors

104,919

35,146

Cash at bank

298,228

236,862

403,717

272,588

CREDITORS

Amounts falling due within one year

94,742

53,115

NET CURRENT ASSETS

308,975

219,473

TOTAL ASSETS LESS CURRENT LIABILITIES

345,425

255,269

CAPITAL AND RESERVES

Called up share capital

4

200

Profit and loss account

345,225

255,069

SHAREHOLDERS' FUNDS

345,425

255,269

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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 25 November 2016 and were signed on its behalf by:

J W H Harper - 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 value of goods and services supplied, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance and 20% 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

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

date.

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 contributes to a defined contribution pension scheme. Contributions payable for the period are charged in

the profit and loss account.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 March 2015

and 29 February 2016

60,000

AMORTISATION

At 1 March 2015

36,000

Amortisation for year

3,000

At 29 February 2016

39,000

NET BOOK VALUE

At 29 February 2016

21,000

At 28 February 2015

24,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 March 2015

36,621

Additions

8,607

At 29 February 2016

45,228

DEPRECIATION

At 1 March 2015

24,825

Charge for year

4,953

At 29 February 2016

29,778

NET BOOK VALUE

At 29 February 2016

15,450

At 28 February 2015

11,796

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

29.2.16

28.2.15

value:

£

200

Ordinary

£1

200

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 four) 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 James Harper Electrical Limited for the year ended 29 February 2016 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 James Harper Electrical 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 James Harper Electrical Limited and state those matters that we have agreed to state to the Board of Directors of James Harper Electrical 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 James Harper Electrical 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 James Harper Electrical Limited. You consider that James Harper Electrical 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 James Harper Electrical 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.

McLay, McAlister & McGibbon (Ayr) Ltd

19 Wellington Square

Ayr

Ayrshire

KA7 1EZ

25 November 2016