John M Taylor (Paisley) Ltd. - Limited company - abbreviated - 11.6

REGISTERED NUMBER: SC367458 (Scotland)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2014

FOR

JOHN M TAYLOR (PAISLEY) LTD.

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

J Hamilton

I J Barr

SECRETARY:

REGISTERED OFFICE:

9 Glasgow Road

Paisley

Renfrewshire

PA1 3QS

REGISTERED NUMBER:

SC367458 (Scotland)

ACCOUNTANTS:

John M Taylor & Co

Chartered Accountants

9 Glasgow Road

PAISLEY

Renfrewshire

PA1 3QS

FIXED ASSETS

175,987

Intangible assets

2

147,000

8,272

Tangible assets

3

9,314

184,259

156,314

CURRENT ASSETS

581,501

Debtors

673,363

24,555

Cash at bank and in hand

40,021

606,056

713,384

CREDITORS

223,536

Amounts falling due within one year

229,928

382,520

NET CURRENT ASSETS

483,456

566,779

TOTAL ASSETS LESS CURRENT LIABILITIES

639,770

CREDITORS

(410,404

)

Amounts falling due after more than one year

(410,404

)

(589

)

PROVISIONS FOR LIABILITIES

(989

)

155,786

NET ASSETS

228,377

CAPITAL AND RESERVES

40,000

Called up share capital

4

40,000

115,786

Profit and loss account

188,377

155,786

SHAREHOLDERS' FUNDS

228,377

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 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 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 Board of Directors on 22 December 2014 and were signed on its behalf by:

J Hamilton - Director

I J Barr - 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 the fair value of professional services provided during the period to clients . Turnover is

recognised as contract activity and the right to consideration earned.

Fair value represents the amount expected to be recoverable from clients and is based on time spent, skills

and expertise provided, excluding value added tax.

Turnover which has been recognised but not invoiced by the balance sheet is included in debtors as ''Amounts

recoverable on contracts'.

Goodwill

Goodwill, being the amount arising on acquisitions, and representing any excess of the fair value of the

consideration given and associated costs over the fair value of the identifiable assets and liabilities acquired.

Positive goodwill is amortised on a straight line basis over its expected useful life.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on cost

Computer equipment

-

33% on cost

Deferred tax

The charge for taxation takes into account taxation deferred as a result of timing differences between the

treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in

respect of all timing differences that have originated but not reversed at the balance sheet date. However,

deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that

they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred

taxation is measured on a non-discounted basis at the average tax rates that would apply when the timing

differences are expected to reverse, based on tax rates and laws that have been enacted by 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.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

and 31 March 2014

289,987

AMORTISATION

At 1 April 2013

114,000

Amortisation for year

28,987

At 31 March 2014

142,987

NET BOOK VALUE

At 31 March 2014

147,000

At 31 March 2013

175,987

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

29,567

Additions

6,257

At 31 March 2014

35,824

DEPRECIATION

At 1 April 2013

21,295

Charge for year

5,215

At 31 March 2014

26,510

NET BOOK VALUE

At 31 March 2014

9,314

At 31 March 2013

8,272

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.14

31.3.13

value:

£

£

40,000

Ordinary

£1

40,000

40,000