James Bain & Co Ltd - Limited company - abbreviated - 11.6

REGISTERED NUMBER: SC202110 (Scotland)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2014

FOR

JAMES BAIN & CO LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

J Bain

Mrs B Bain

SECRETARY:

Mrs B Bain

REGISTERED OFFICE:

16 Melville Terrace

Stirling

FK8 2NE

REGISTERED NUMBER:

SC202110 (Scotland)

ACCOUNTANTS:

James Bain & Co Ltd

16 Melville Terrace

Stirling

FK8 2NE

FIXED ASSETS

Intangible assets

2

90,000

90,000

Tangible assets

3

17,273

16,405

107,273

106,405

CURRENT ASSETS

Stocks

14,485

13,375

Debtors

30,484

23,365

44,969

36,740

CREDITORS

Amounts falling due within one year

64,231

68,843

NET CURRENT LIABILITIES

(19,262

)

(32,103

)

TOTAL ASSETS LESS CURRENT LIABILITIES

88,011

74,302

CREDITORS

Amounts falling due after more than one year

-

3,391

NET ASSETS

88,011

70,911

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

87,911

70,811

SHAREHOLDERS' FUNDS

88,011

70,911

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 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 30th December 2014 and were signed on its behalf by:

J Bain - 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets

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

Stocks

Work in progress is valued at the lower of cost and net realisable value.

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.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1st April 2013

and 31st March 2014

100,000

AMORTISATION

At 1st April 2013

and 31st March 2014

10,000

NET BOOK VALUE

At 31st March 2014

90,000

At 31st March 2013

90,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st April 2013

53,409

Additions

3,916

At 31st March 2014

57,325

DEPRECIATION

At 1st April 2013

37,004

Charge for year

3,048

At 31st March 2014

40,052

NET BOOK VALUE

At 31st March 2014

17,273

At 31st March 2013

16,405

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/3/14

31/3/13

value:

£

£

100

Ordinary

£1

100

100