John Morrison (Highland Outfitters) Limi - Limited company - abbreviated

REGISTERED NUMBER: SC039987 (Scotland)

Abbreviated Accounts for the Year Ended 31 March 2015

for

John Morrison (Highland Outfitters)

Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

S Singh

G Singh

D Singh

REGISTERED OFFICE:

234 - 242 High Street

Kirkcaldy

Fife

KY1 1JT

REGISTERED NUMBER:

SC039987 (Scotland)

ACCOUNTANTS:

Khokhar McAdam LTD CA

1 Eagle Street

Craighall Business Park

Glasgow

G4 9XA

FIXED ASSETS

Intangible assets

2

264,000

330,000

Tangible assets

3

1,335,497

1,300,000

1,599,497

1,630,000

CURRENT ASSETS

Stocks

572,220

473,146

Debtors

782,060

813,340

Prepayments and accrued income

-

1,000

Cash at bank and in hand

80,211

51,335

1,434,491

1,338,821

CREDITORS

Amounts falling due within one year

191,840

162,996

NET CURRENT ASSETS

1,242,651

1,175,825

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,842,148

2,805,825

CAPITAL AND RESERVES

Called up share capital

4

20,000

Revaluation reserve

1,284,144

Profit and loss account

1,538,004

1,501,681

SHAREHOLDERS' FUNDS

2,842,148

2,805,825

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 26 November 2015 and were signed on its
behalf by:

D Singh - Director

G Singh - Director

S Singh - 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

Acquired goodwill in 2006 was capitalised and its subsequent measurement was through an impairment

reviews or an annual amortisation charge, determined based on the individual circumstances of each

individual business acquired.The company did not amortise the cost of goodwill in its accounts for the

periods up to 31March 2014 but As from 1 April 2014 the cost of goodwill is amortised over 5 year in

order to comply with the requirements of the Companies Act 1985 and the UK GAAP.

Tangible fixed assets

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

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

Deferred tax

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

balance sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over

the period of the lease.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

and 31 March 2015

330,000

AMORTISATION

Amortisation for year

66,000

At 31 March 2015

66,000

NET BOOK VALUE

At 31 March 2015

264,000

At 31 March 2014

330,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

1,300,000

Additions

35,497

At 31 March 2015

1,335,497

NET BOOK VALUE

At 31 March 2015

1,335,497

At 31 March 2014

1,300,000

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.15

31.3.14

value:

£

20,000

Ordinary

1

20,000

John Morrison (Highland Outfitters) Limi - Limited company - abbreviated - 11.6

John Morrison (Highland Outfitters) Limi - Limited company - abbreviated - 11.6