P J McL Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: SC414830 (Scotland)

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

FOR

P J MCL LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

Mr P McLean

Mrs S McLean

SECRETARY:

Mrs S McLean

REGISTERED OFFICE:

28 Broad Street

Peterhead

Aberdeenshire

AB42 1BY

REGISTERED NUMBER:

SC414830 (Scotland)

ACCOUNTANTS:

Bain Henry Reid

28 Broad Street

Peterhead

Aberdeenshire

AB42 1BY

CURRENT ASSETS

Cash at bank

74,845

102,006

CREDITORS

Amounts falling due within one year

(28,967

)

(34,469

)

NET CURRENT ASSETS

45,878

67,537

TOTAL ASSETS LESS CURRENT
LIABILITIES

45,878

67,537

CAPITAL AND RESERVES

Called up share capital

2

Profit and loss account

45,876

67,535

SHAREHOLDERS' FUNDS

45,878

67,537

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 19 December 2016 and were signed on its behalf by:

Mr P McLean - 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 services and amounts receivable under service contracts, excluding value added tax.

Deferred tax

Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different

from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences

which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when

the timing differences reverse, based on current tax rates and laws.

Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment

to sell the asset.

Deferred tax assets and liabilities are not discounted.

2.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

2

Ordinary

1

2

3.	DIRECTORS LOANS

Details of directors loan account transactions and the year end balance are as follows:

2016

2015

£

Mr P McLean and Mrs S McLean:

Amount due to directors at 31st March 2015

1,215

364

Received from directors during year

-

851

Paid to directors during the year

221

-

Amount due to directors at 31st March 2016

994

1,215

The loan is interest free and there are no fixed terms of repayment.

4.	DIVIDENDS PAID TO DIRECTORS

Ordinary dividends paid to directors in their capacity as shareholders during the year include £60,000 to Mr P Mclean (2015

- £51,000) and £60,000 to Mrs S McLean (2015 - £51,000).

5.	ULTIMATE CONTROLLING PARTY

Mr & Mrs McLean, directors, control the company by virtue of a 100% controlling interest in issued share capital of the

company.