Steve Gourlay Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: SC316729 (Scotland)

Abbreviated Accounts for the Year Ended 31 March 2015

for

Steve Gourlay Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

S A Gourlay

Mrs S A Gourlay

SECRETARY:

Mrs S A Gourlay

REGISTERED OFFICE:

23 Marshal Keith Drive

Peterhead

ABERDEENSHIRE

AB42 3FH

REGISTERED NUMBER:

SC316729 (Scotland)

ACCOUNTANTS:

J M Taylor

7 Ythan Terrace

Ellon

ABERDEENSHIRE

AB41 9LJ

FIXED ASSETS

Tangible assets

2

22,843

3,173

CURRENT ASSETS

Stocks

13,937

11,462

Debtors

42,762

63,882

Cash at bank

48,005

7,833

104,704

83,177

CREDITORS

Amounts falling due within one year

112,399

85,604

NET CURRENT LIABILITIES

(7,695

)

(2,427

)

TOTAL ASSETS LESS CURRENT LIABILITIES

15,148

746

PROVISIONS FOR LIABILITIES

4,546

607

NET ASSETS

10,602

139

CAPITAL AND RESERVES

Called up share capital

3

100

100

Profit and loss account

10,502

39

SHAREHOLDERS' FUNDS

10,602

139

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 14 December 2015 and were signed on its behalf by:

S A Gourlay - 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.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

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.

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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

15,066

Additions

27,319

At 31 March 2015

42,385

DEPRECIATION

At 1 April 2014

11,893

Charge for year

7,649

At 31 March 2015

19,542

NET BOOK VALUE

At 31 March 2015

22,843

At 31 March 2014

3,173

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.15

31.3.14

value:

£

£

100

Ordinary

£1.00

100

100

4.	RELATED PARTY DISCLOSURES

During the year the directors Mr Stephen Gourlay & Mrs Shirley Gourlay advanced the company net amounts

totalling £63,261. This amount remained outstanding at 31/03/2015 and is included within Other creditors in the

notes to the accounts.

During the year the directors received net dividends, detailed below, from the company.

Mr Stephen Gourlay

- £29,750

Mrs Shirley Gourlay

- £12,750

5.	ULTIMATE CONTROLLING PARTY

During the year the company was controlled by the director Mr Stephen Gourlay by virtue of his majority 70%

holding in the ordinary share capital of the company.