McGovern Decorators Limited - Limited company - abbreviated

REGISTERED NUMBER: SC279763 (Scotland)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 JULY 2014

FOR

MCGOVERN DECORATORS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Accountants' Report

5

DIRECTOR:

P McGovern

REGISTERED OFFICE:

75 Morrison Street

Glasgow

G5 8BE

REGISTERED NUMBER:

SC279763 (Scotland)

ACCOUNTANTS:

Curle & Co

Chartered Accountants

22 Backbrae Street

Kilsyth

G65 0NH

BANKERS:

LLoyds TSB

Glasgow North Business & Commercial

Branch

Glasgow

G2 8PE

FIXED ASSETS

Tangible assets

2

16,481

21,766

CURRENT ASSETS

Debtors

60,626

58,047

Cash at bank

44,968

73,924

105,594

131,971

CREDITORS

Amounts falling due within one year

97,550

80,733

NET CURRENT ASSETS

8,044

51,238

TOTAL ASSETS LESS CURRENT
LIABILITIES

24,525

73,004

CREDITORS

Amounts falling due after more than one year

(1,430

)

(4,863

)

PROVISIONS FOR LIABILITIES

(1,940

)

-

NET ASSETS

21,155

68,141

CAPITAL AND RESERVES

Called up share capital

3

100

Profit and loss account

21,055

68,041

SHAREHOLDERS' FUNDS

21,155

68,141

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2014 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 3 December 2014 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 April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

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

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 2013

and 31 July 2014

50,067

DEPRECIATION

At 1 August 2013

28,301

Charge for year

5,285

At 31 July 2014

33,586

NET BOOK VALUE

At 31 July 2014

16,481

At 31 July 2013

21,766

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.14

31.7.13

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 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 McGovern Decorators Limited for the year ended 31 July 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 director of McGovern Decorators Limited in accordance with our terms of engagement.

Our work has been undertaken solely to prepare for your approval the financial statements of McGovern Decorators

Limited and state those matters that we have agreed to state to the director of McGovern Decorators Limited 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 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

McGovern Decorators Limited. You consider that McGovern Decorators 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 McGovern Decorators

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.