PC & A Limited - Limited company accounts 11.4

REGISTERED NUMBER: SC450061 (Scotland)

Report of the Directors and

Unaudited Financial Statements for the Period 15 May 2013 to 31 May 2014

for

PC & A Limited

Page

Company Information

1

Report of the Directors

2

Profit and Loss Account

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTORS:

W F Raynal

Mrs A Raynal

REGISTERED OFFICE:

Cowan & Partners

60 Constitution Street

Leith

Edinburgh

MIDLOTHIAN

EH6 6RR

REGISTERED NUMBER:

SC450061 (Scotland)

ACCOUNTANTS:

Cowan & Partners Limited

60 Constitution Street

Edinburgh

EH6 6RR

The directors present their report with the financial statements of the company for the period 15 May 2013 to 31 May 2014.

INCORPORATION

The company was incorporated on 15 May 2013 and commenced trading on 20 May 2013.

DIRECTORS

The directors who have held office during the period from 15 May 2013 to the date of this report are as follows:

W F Raynal - appointed 15 May 2013

Mrs A Raynal - appointed 15 May 2013

Both the directors who are eligible offer themselves for election at the forthcoming first Annual General Meeting.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small

companies.

ON BEHALF OF THE BOARD:

W F Raynal - Director

17 November 2014

TURNOVER

143,509

Administrative expenses

32,686

OPERATING PROFIT

2

110,823

Interest receivable and similar income

10

PROFIT ON ORDINARY ACTIVITIES BEFORE TAXATION

110,833

Tax on profit on ordinary activities

3

22,460

PROFIT FOR THE FINANCIAL PERIOD

88,373

FIXED ASSETS

Tangible assets

5

872

Investments

6

3,700

4,572

CURRENT ASSETS

Debtors

7

1,356

Cash at bank

77,721

79,077

CREDITORS

Amounts falling due within one year

8

31,676

NET CURRENT ASSETS

47,401

TOTAL ASSETS LESS CURRENT LIABILITIES

51,973

CAPITAL AND RESERVES

Called up share capital

9

100

Profit and loss account

10

51,873

SHAREHOLDERS' FUNDS

51,973

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 May 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 financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The financial statements were approved by the Board of Directors on 17 November 2014 and were signed on its behalf by:

W F Raynal - 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 net invoiced sales of services, excluding flat rate value added tax due. Turnover is recognised when the

company completes the work and obtains the right to consideration.

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

-

33% on cost

2.	OPERATING PROFIT

The operating profit is stated after charging:

£

Depreciation - owned assets

436

Directors' remuneration and other benefits etc

-

3.

TAXATION

Analysis of the tax charge

The tax charge on the profit on ordinary activities for the period was as follows:

£

Current tax:

UK corporation tax

22,460

Tax on profit on ordinary activities

22,460

4.

DIVIDENDS

£

Ordinary shares of 1 each

Interim

36,500

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

1,308

At 31 May 2014

1,308

DEPRECIATION

Charge for period

436

At 31 May 2014

436

NET BOOK VALUE

At 31 May 2014

872

6.	FIXED ASSET INVESTMENTS

Unlisted

investments

£

COST

Additions

3,700

At 31 May 2014

3,700

NET BOOK VALUE

At 31 May 2014

3,700

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Other debtors

1,356

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Taxation and social security

28,930

Other creditors

2,746

31,676

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

100

Ordinary

1

100

100 Ordinary shares of 1 each were allotted and fully paid for cash at par during the period.

10.

RESERVES

Profit

and loss

account

£

Profit for the period

88,373

Dividends

(36,500

)

At 31 May 2014

51,873

11.	RELATED PARTY DISCLOSURES

W F Raynal

During the year Mr Raynal introduced £9,001 into the company and withdrew £9,044 from the company.

£

Amount due from related party at the balance sheet date

43