Abbreviated Company Accounts - THE WORKSHOP UK LIMITED

THE WORKSHOP UK LIMITED - Company Information

SC196886 THE WORKSHOP UK LIMITED 2014-12-31 false 2014-01-01 2014-12-31 true SC196886 2014-01-01 2014-12-31 SC196886 2014-12-31 SC196886 2013-12-31 SC196886 uk-gaap-cd-bus:Director1 2014-01-01 2014-12-31 SC196886 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 iso4217:GBP shares

Registered Number SC196886

THE WORKSHOP UK LIMITED

Abbreviated Accounts

31 December 2014

THE WORKSHOP UK LIMITED Registered Number SC196886

Abbreviated Balance Sheet as at 31 December 2014

	Notes	2014	2013
		£	£
Fixed assets
Tangible assets	2	193,911	123,845
Investments	3	-	545
		193,911	124,390
Current assets
Stocks		192,041	158,621
Debtors		617,340	714,803
Cash at bank and in hand		553,856	319,868
		1,363,237	1,193,292
Creditors: amounts falling due within one year		(795,584)	(736,541)
Net current assets (liabilities)		567,653	456,751
Total assets less current liabilities		761,564	581,141
Provisions for liabilities		(17,055)	-
Total net assets (liabilities)		744,509	581,141
Capital and reserves
Called up share capital	4	100	100
Profit and loss account		744,409	581,041
Shareholders' funds		744,509	581,141

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 31 October 2015

And signed on their behalf by:
Allan Henderson, Director

THE WORKSHOP UK LIMITED Registered Number SC196886

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.

Turnover policy
Turnover represents amounts received for goods and services net of VAT and trade discounts.

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:

Property improvements 4% Straight line
Plant and machinery 20% - 33% Straight line
Fixtures, fittings & equipment 33% Straight line
Motor vehicles 20% Straight line

Other accounting policies
Investments
Fixed asset investments are stated at cost less provision for diminution in value.

Stock
Stock is valued at the lower of cost and net releasable value

Pensions
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current taxation rates and laws.

Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset.

Deferred tax assets and liabilities are not discounted.

2Tangible fixed assets

	£
Cost
At 1 January 2014	814,516
Additions	136,003
Disposals	-
Revaluations	-
Transfers	-
At 31 December 2014	950,519
Depreciation
At 1 January 2014	690,671
Charge for the year	65,937
On disposals	-
At 31 December 2014	756,608
Net book values
At 31 December 2014	193,911
At 31 December 2013	123,845

3Fixed assets Investments
The investment represents a 47% and 45% shareholding in McGinty's (Aberdeen) limited and Prego (Aberdeen) Limited. This was disposed at cost in March 2014.

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

	2014 £	2013 £
100 Ordinary shares of £1 each	100	100