R.G. DUNCAN LIMITED Accounts filed on 31-03-2014
R.G. DUNCAN LIMITED Accounts filed on 31-03-2014
R.G. DUNCAN LIMITED
Company Registration Number:
03885787 (England and Wales)
Abbreviated (Unaudited) Accounts
Period of accounts
Start date: 01st April 2013
End date: 31st March 2014
SUBMITTED
R.G. DUNCAN LIMITED
Company Information
for the Period Ended
31st March 2014
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R.G. DUNCAN LIMITED
Abbreviated Balance sheet
As at 31st March 2014
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2013 £ |
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| Fixed assets | |||
| Tangible assets: | 2 |
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| Total fixed assets: |
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| Current assets | |||
| Debtors: | 3 |
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| Cash at bank and in hand: |
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| Creditors | |||
| Creditors: amounts falling due within one year | 4 |
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| Total assets less current liabilities: |
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| Total net assets (liabilities): |
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The notes form part of these financial statements
R.G. DUNCAN LIMITED
Abbreviated Balance sheet
As at 31st March 2014
continued
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| Capital and reserves | |||
| Called up share capital: | 5 |
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| Profit and Loss account: |
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| Total shareholders funds: |
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The financial statements were approved by the Board of Directors on
SIGNED ON BEHALF OF THE BOARD BY:
Name: Roy Duncan
Status: Director
The notes form part of these financial statements
R.G. DUNCAN LIMITED
Notes to the Abbreviated Accounts
for the Period Ended
31st March 2014
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1. Accounting policies
Basis of measurement and preparation of accounts
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain fixed ass ts and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008) Turnover policy
The turnover shown in the profit and loss account represents revenue recognised by the company in respect of goods and services supplied during the period, exclusive of Value Added Tax and trade discounts. Tangible fixed assets depreciation policy
Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life. Office Equipment - Straight line over 3 years. . Valuation information and policy
Stocks and work -in-progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads. Other accounting policies
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability. Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease. Research and Development Expenditure on research and development is written off in the year in which it is incurred. Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. Deferred taxation is calculated at the rates of tax that are expected to apply in the periods when the timing differences will reverse and has not been discounted.
R.G. DUNCAN LIMITED
Notes to the Abbreviated Accounts
for the Period Ended
31st March 2014
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2. Tangible assets
Total Cost £ At 01st April 2013: 500 At 31st March 2014: 500 Depreciation At 01st April 2013: 167 Charge for year: 175 At 31st March 2014: 342 Net book value At 31st March 2014: 158 At 31st March 2013: 333
R.G. DUNCAN LIMITED
Notes to the Abbreviated Accounts
for the Period Ended
31st March 2014
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3. Debtors
2014
£2013
£Trade debtors: 4,860 28,542 Other debtors: 1,057 - Prepayments and accrued income: 22,913 8,756 Total: 28,830 37,298
R.G. DUNCAN LIMITED
Notes to the Abbreviated Accounts
for the Period Ended
31st March 2014
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4. Creditors: amounts falling due within one year
2014
£2013
£Trade creditors: 2,470 1,372 Taxation and social security: 10,430 9,749 Other creditors: 9,135 14,907 Total: 22,035 26,028