Merkland Tank Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: SC282068 (Scotland)

MERKLAND TANK LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 JANUARY 2015

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Accountants' Report

6

DIRECTORS:

R E S Horne

K McIntyre

SECRETARY:

K McIntyre

REGISTERED OFFICE:

14 Loanbank Quadrant

Govan

Glasgow

G51 3HZ

REGISTERED NUMBER:

SC282068 (Scotland)

ACCOUNTANTS:

Hardie Caldwell LLP

Citypoint 2

25 Tyndrum Street

Glasgow

G4 0JY

BANKERS:

The Royal Bank of Scotland plc

280 Dumbarton Road

Glasgow

G11 6TD

FIXED ASSETS

Tangible assets

2

359,387

211,421

Investments

3

-

7,265

359,387

218,686

CURRENT ASSETS

Stocks

19,984

32,119

Debtors

333,557

301,707

Cash at bank and in hand

2,472,131

1,581,818

2,825,672

1,915,644

CREDITORS

Amounts falling due within one year

672,668

551,915

NET CURRENT ASSETS

2,153,004

1,363,729

TOTAL ASSETS LESS CURRENT LIABILITIES

2,512,391

1,582,415

CREDITORS

Amounts falling due after more than one year

(345,101

)

(86,455

)

PROVISIONS FOR LIABILITIES

(77,365

)

(40,399

)

NET ASSETS

2,089,925

1,455,561

CAPITAL AND RESERVES

Called up share capital

4

5,000

5,000

Profit and loss account

2,084,925

1,450,561

SHAREHOLDERS' FUNDS

2,089,925

1,455,561

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2015 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 May 2015 and were signed on its behalf by:

R E S Horne - 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 sale of tank and boiler servicing, insulation and engineering, excluding value

added tax.

Tangible fixed assets

Depreciation of fixed assets is calculated to write off their cost or valuation less any residual value over their

estimated useful lives as follows:

Plant & tools

5 years

Motor vehicles

5 years

Furniture & fittings

5 years

Computer equipment

3 years

Stocks of consumables and loose tools

Stocks of consumables and loose tools are stated at the current replacement cost with a deduction for

depreciation and obsolescence being made against loose tools.

Deferred tax

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

sheet date.

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.

Work in progress

Work in progress is stated at an appropriate charge out rate for direct labour plus an appropriate allowance for

materials and overheads. Full provision is made for all known or expected losses.

Work completed but not invoiced

Work completed but not invoiced is stated at the amounts subsequently invoiced.

Going concern

The company has cash resources and has no requirement for external funding. The director has a reasonable

expectation that the company has adequate resources to continue in operational existence for the foreseeable

future. He continues to believe the going concern basis of accounting appropriate in preparing the annual

financial statements.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 February 2014

507,633

Additions

217,371

Disposals

(2,353

)

At 31 January 2015

722,651

DEPRECIATION

At 1 February 2014

296,212

Charge for year

68,944

Eliminated on disposal

(1,892

)

At 31 January 2015

363,264

NET BOOK VALUE

At 31 January 2015

359,387

At 31 January 2014

211,421

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 February 2014

7,265

Disposals

(7,265

)

At 31 January 2015

-

NET BOOK VALUE

At 31 January 2015

-

At 31 January 2014

7,265

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

5,000

Ordinary shares

£1

5,000

5,000

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to five)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Merkland Tank Limited for the year ended 31 January 2015 which comprise the Profit and Loss

Account, the Balance Sheet, and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants of Scotland, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.org.uk/accountspreparationguidance.

This report is made solely to the Board of Directors of Merkland Tank Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Merkland Tank Limited and state those matters that we have agreed to state to the Board of Directors of Merkland Tank Limited, as a body, in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at http://www.icas.org.uk/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Merkland Tank Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Merkland Tank Limited. You consider that Merkland Tank Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Merkland Tank Limited. For

this reason, we have not verified the accuracy or completeness of the accounting records or information and

explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Hardie Caldwell LLP

Citypoint 2

25 Tyndrum Street

Glasgow

G4 0JY

22 May 2015