Mcgovern Decorators Ltd. - Abbreviated accounts 16.3

REGISTERED NUMBER: SC279763 (Scotland)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 JULY 2016

FOR

MCGOVERN DECORATORS LTD.

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Accountants' Report

6

DIRECTOR:

P McGovern

REGISTERED OFFICE:

Unit 13 Simpson Court

11 South Avenue

Clydebank Business Park

Glasgow

G81 2NR

REGISTERED NUMBER:

SC279763 (Scotland)

ACCOUNTANTS:

Curle & Co

Chartered Accountants

22 Backbrae Street

Kilsyth

G65 0NH

BANKERS:

Bank of Scotland

167-201 Argyle Street

Glasgow

G2 8BU

FIXED ASSETS

Tangible assets

2

2,067

8,392

CURRENT ASSETS

Stocks

10,037

11,000

Debtors

9,126

20,646

Cash at bank

111,985

12,614

131,148

44,260

CREDITORS

Amounts falling due within one year

131,109

51,972

NET CURRENT ASSETS/(LIABILITIES)

39

(7,712

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,106

680

PROVISIONS FOR LIABILITIES

413

567

NET ASSETS

1,693

113

CAPITAL AND RESERVES

Called up share capital

3

100

Profit and loss account

1,593

13

SHAREHOLDERS' FUNDS

1,693

113

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2016 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 21 April 2017 and were signed by:

P McGovern - 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 and revenue recognition

Turnover represents net invoiced sales of goods and services, excluding VAT. Revenue is recognised when

goods and services are provided to the customer.

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

-

15% on reducing balance

Motor vehicles

-

25% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

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.

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 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 August 2015

and 31 July 2016

43,912

DEPRECIATION

At 1 August 2015

35,520

Charge for year

6,325

At 31 July 2016

41,845

NET BOOK VALUE

At 31 July 2016

2,067

At 31 July 2015

8,392

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.16

31.7.15

value:

£

100

Ordinary

£1.00

100

The following reproduces the text of the report prepared for the director 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 Mcgovern Decorators Ltd. for the year ended 31 July 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 director of Mcgovern Decorators Ltd. in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Mcgovern Decorators Ltd. and state those matters that we have agreed to state to the director of Mcgovern Decorators Ltd. 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 director for our work or for this report.

It is your duty to ensure that Mcgovern Decorators Ltd. 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 Mcgovern Decorators Ltd.. You consider that Mcgovern Decorators Ltd. 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 Mcgovern Decorators Ltd.. 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.

Curle & Co

Chartered Accountants

22 Backbrae Street

Kilsyth

G65 0NH

Date: .............................................