McEachern Architects Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: SC404061 (Scotland)

Abbreviated Unaudited Accounts for the Year Ended 31 July 2014

for

McEachern Architects Limited

Page

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

2

FIXED ASSETS

Tangible assets

2

8,738

11,311

CURRENT ASSETS

Stocks

12,000

12,000

Debtors

8,907

14,794

Cash at bank

85,546

37,947

106,453

64,741

CREDITORS

Amounts falling due within one year

(113,649

)

(73,926

)

NET CURRENT LIABILITIES

(7,196

)

(9,185

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,542

2,126

PROVISIONS FOR LIABILITIES

(1,065

)

(1,430

)

NET ASSETS

477

696

CAPITAL AND RESERVES

Called up share capital

3

2

2

Profit and loss account

475

694

SHAREHOLDERS' FUNDS

477

696

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 19 November 2014 and were signed by:

Mr G J McEachern - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under applicable law and United Kingdom Accounting Standards

(United Kingdom Generally Accepted Accounting Practice) and in accordance with the Financial Reporting

Standard for Smaller Entities (effective April 2008).

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).

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a

small company.

Turnover

Turnover represents net invoiced sales of architectural services, excluding value added tax. Sales are recognised

at the point at which the service is complete.

Tangible fixed assets and depreciation

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

Leasehold property improvements

-

10% on cost

Fixtures and fittings

-

33% on cost

Equipment

-

33% on reducing balance and 25% on cost

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any

incidental costs of acquisition.

Work in progress

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

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date, where transactions or events that result in an obligation to pay more or a right to pay less tax in the

future have occurred by the balance sheet date with certain limited exceptions.

Deferred tax is calculated on an undiscounted basis at the tax rates that are expected to apply in the periods in

which the timing differences are expected to reverse, based on tax rates and laws enacted or substantively

enacted at the balance sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 August 2013

and 31 July 2014

17,544

DEPRECIATION

At 1 August 2013

6,233

Charge for year

2,573

At 31 July 2014

8,806

NET BOOK VALUE

At 31 July 2014

8,738

At 31 July 2013

11,311

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.14

31.7.13

value:

£

£

2

Ordinary

£1

2

2

4.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2014 and

31 July 2013:

31.7.14

31.7.13

£

£

Mr G J McEachern

Balance outstanding at start of year

(56,231

)

(43,958

)

Amounts advanced

(19,674

)

(12,273

)

Amounts repaid

-

-

Balance outstanding at end of year

(75,905

)

(56,231

)