Abbreviated Company Accounts - WILLIAM DUNCAN (BUSINESS RECOVERY) LTD

WILLIAM DUNCAN (BUSINESS RECOVERY) LTD - Company Information

SC413558 WILLIAM DUNCAN (BUSINESS RECOVERY) LTD 2014-12-31 false 2014-01-01 2014-12-31 true SC413558 2014-01-01 2014-12-31 SC413558 2014-12-31 SC413558 2013-12-31 SC413558 uk-gaap-cd-bus:Director1 2014-01-01 2014-12-31 SC413558 uk-gaap-cd-bus:Director2 2014-01-01 2014-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-01-01 2014-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-12-31 uk-gaap-cd-bus:OrdinaryShareClass2 2014-01-01 2014-12-31 uk-gaap-cd-bus:OrdinaryShareClass2 2014-12-31 uk-gaap-cd-bus:OrdinaryShareClass2 2013-12-31 uk-gaap-cd-bus:PreferenceShareClass1 2014-01-01 2014-12-31 uk-gaap-cd-bus:PreferenceShareClass1 2014-12-31 uk-gaap-cd-bus:PreferenceShareClass1 2013-12-31 iso4217:GBP shares

Registered Number SC413558

WILLIAM DUNCAN (BUSINESS RECOVERY) LTD

Abbreviated Accounts

31 December 2014

WILLIAM DUNCAN (BUSINESS RECOVERY) LTD Registered Number SC413558

Abbreviated Balance Sheet as at 31 December 2014

	Notes	2014	2013
		£	£
Fixed assets
Tangible assets	2	59,304	16,368
		59,304	16,368
Current assets
Stocks		467,426	367,896
Debtors		91,276	27,677
Cash at bank and in hand		19,366	19,734
		578,068	415,307
Creditors: amounts falling due within one year	3	(552,053)	(408,600)
Net current assets (liabilities)		26,015	6,707
Total assets less current liabilities		85,319	23,075
Creditors: amounts falling due after more than one year	3	(6,289)	(9,747)
Provisions for liabilities		(8,377)	0
Total net assets (liabilities)		70,653	13,328
Capital and reserves
Called up share capital	4	75,160	75,160
Profit and loss account		(4,507)	(61,832)
Shareholders' funds		70,653	13,328

For the year ending 31 December 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 28 September 2015

And signed on their behalf by:
Robert Fergusson, Director

WILLIAM DUNCAN (BUSINESS RECOVERY) LTD Registered Number SC413558

Notes to the Abbreviated Accounts for the period ended 31 December 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

Turnover policy
Fee income represents revenue earned under contracts to provide professional services. Revenue is recognised as earned when, and to the extent that, the company obtains the right to consideration in exchange for its performance under these contracts. It is measured at the fair value of the right to consideration, which represents amounts chargeable to clients, including expenses and disbursements but excluding value added tax.

Tangible assets depreciation policy
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, fittings and equipment - 33.33% straight line
Motor vehicles - 33.33% straight line

Other accounting policies
Leasing and hire purchase commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

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

2Tangible fixed assets

	£
Cost
At 1 January 2014	28,871
Additions	52,560
Disposals	-
Revaluations	-
Transfers	-
At 31 December 2014	81,431
Depreciation
At 1 January 2014	12,503
Charge for the year	9,624
On disposals	-
At 31 December 2014	22,127
Net book values
At 31 December 2014	59,304
At 31 December 2013	16,368

3Creditors

	2014 £	2013 £
Secured Debts	10,062	13,865

4Called Up Share Capital
Allotted, called up and fully paid:

	2014 £	2013 £
120 A Ordinary shares of £1 each	120	120
40 B Ordinary shares of £1 each	40	40
75,000 Redeemable Preference shares of £1 each	75,000	75,000

The company's preference shares are redeemable at any future date at the option of the company. No voting or dividend rights are attached to the preference shares, which rank first for any distribution made on a winding up.