Peter MacFarlane Limited - Limited company accounts 11.4

REGISTERED NUMBER: 06083125 (England and Wales)

Report of the Director and

Financial Statements

for the Year Ended

31 March 2014

for

Peter MacFarlane Limited

Page

Company Information

1

Report of the Director

2

Profit and Loss Account

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTOR:

P MacFarlane

SECRETARY:

Ascot Drummond Secretarial Limited

REGISTERED OFFICE:

Devonshire House

Manor Way

Borehamwood

Hertfordshire

WD6 1QQ

REGISTERED NUMBER:

06083125 (England and Wales)

ACCOUNTANTS:

Ascot Drummond

Suite 12

River Court

5 West Victoria Dock Road

Dundee

DD1 3JT

The director presents his report with the financial statements of the company for the year ended 31 March 2014.

DIRECTOR

P MacFarlane held office during the whole of the period from 1 April 2013 to the date of this report.

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:

P MacFarlane - Director

11 December 2014

TURNOVER

95,568

97,832

Administrative expenses

26,773

23,557

OPERATING PROFIT and

PROFIT ON ORDINARY ACTIVITIES
BEFORE TAXATION

2

68,795

74,275

Tax on profit on ordinary activities

3

13,878

14,645

PROFIT FOR THE FINANCIAL YEAR

54,917

59,630

FIXED ASSETS

Tangible assets

5

978

1,089

CURRENT ASSETS

Debtors

6

3,651

5,749

Cash at bank

14,130

43,558

17,781

49,307

CREDITORS

Amounts falling due within one year

7

18,739

19,486

NET CURRENT (LIABILITIES)/ASSETS

(958

)

29,821

TOTAL ASSETS LESS CURRENT
LIABILITIES

20

30,910

CAPITAL AND RESERVES

Called up share capital

8

2

Profit and loss account

9

18

30,908

SHAREHOLDERS' FUNDS

20

30,910

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 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 director on 11 December 2014 and were signed by:

P MacFarlane - 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 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 etc

-

33% 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.

2.	OPERATING PROFIT

The operating profit is stated after charging:

31.3.14

31.3.13

£

Depreciation - owned assets

761

700

Director's remuneration and other benefits etc

12,187

11,963

3.

TAXATION

Analysis of the tax charge

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

31.3.14

31.3.13

£

Current tax:

UK corporation tax

13,878

14,645

Tax on profit on ordinary activities

13,878

14,645

4.

DIVIDENDS

31.3.14

31.3.13

£

Ordinary share of 1

Final

85,807

34,928

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2013

4,060

Additions

650

At 31 March 2014

4,710

DEPRECIATION

At 1 April 2013

2,971

Charge for year

761

At 31 March 2014

3,732

NET BOOK VALUE

At 31 March 2014

978

At 31 March 2013

1,089

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.14

31.3.13

£

Trade debtors

2,700

4,860

Other debtors

951

889

3,651

5,749

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.14

31.3.13

£

Taxation and social security

18,739

19,486

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.14

31.3.13

value:

£

1

Ordinary

1

A

1

2

9.

RESERVES

Profit

and loss

account

£

At 1 April 2013

30,908

Profit for the year

54,917

Dividends

(85,807

)

At 31 March 2014

18