P. McKernan Construction Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: SC201125 (Scotland)

Abbreviated Unaudited Accounts

For The Year Ended 31st March 2014

for

P. McKernan Construction Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

P McKernan

SECRETARY:

Mrs D McKernan

REGISTERED OFFICE:

8 Douglas Street

Hamilton

Lanarkshire

ML3 0BP

REGISTERED NUMBER:

SC201125 (Scotland)

ACCOUNTANTS:

J.S. Mackie & Co Ltd

8 Douglas Street

Hamilton

Lanarkshire

ML3 0BP

FIXED ASSETS

Tangible assets

2

78,416

41,412

CURRENT ASSETS

Stocks

320,000

70,000

Debtors

286,771

290,267

Cash at bank

56,576

142,569

663,347

502,836

CREDITORS

Amounts falling due within one year

(291,057

)

(108,892

)

NET CURRENT ASSETS

372,290

393,944

TOTAL ASSETS LESS CURRENT LIABILITIES

450,706

435,356

CREDITORS

Amounts falling due after more than one year

(14,743

)

-

NET ASSETS

435,963

435,356

CAPITAL AND RESERVES

Called up share capital

3

2

2

Profit and loss account

435,961

435,354

SHAREHOLDERS' FUNDS

435,963

435,356

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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 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 12th December 2014 and were signed by:

P McKernan - 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 etc

-

25% on reducing balance

Stocks

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.

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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st April 2013

91,228

Additions

46,070

Disposals

(16,280

)

At 31st March 2014

121,018

DEPRECIATION

At 1st April 2013

49,816

Charge for year

6,168

Eliminated on disposal

(13,382

)

At 31st March 2014

42,602

NET BOOK VALUE

At 31st March 2014

78,416

At 31st March 2013

41,412

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

2

Ordinary

£1.00

2

2