WILLIAM_DUNCAN_(BUSINESS_ - Accounts

WILLIAM DUNCAN (BUSINESS RECOVERY) LTD - Company Information

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WILLIAM DUNCAN (BUSINESS RECOVERY) LTD

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

Company Registration No. SC413558 (Scotland)

WILLIAM DUNCAN (BUSINESS RECOVERY) LTD

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

WILLIAM DUNCAN (BUSINESS RECOVERY) LTD

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

54,818

59,304

Current assets

Stocks

646,568

467,426

Debtors

137,234

91,276

Cash at bank and in hand

11,909

19,366

795,711

578,068

Creditors: amounts falling due within one year

(771,378)

(552,053)

Net current assets

24,333

26,015

Total assets less current liabilities

79,151

85,319

Creditors: amounts falling due after more than one year

(1,631)

(6,289)

Provisions for liabilities

(8,870)

(8,377)

68,650

70,653

Capital and reserves

Called up share capital

75,160

Profit and loss account

(6,510)

(4,507)

Shareholders' funds

68,650

70,653

WILLIAM DUNCAN (BUSINESS RECOVERY) LTD

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 DECEMBER 2015

- 2 -

For the financial year ended 31 December 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 28 September 2016

Mr Robert Fergusson

Director

Company Registration No. SC413558

WILLIAM DUNCAN (BUSINESS RECOVERY) LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

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).

1.3

Turnover

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.

1.4

Tangible fixed assets and depreciation

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 & equipment

over 7 years straight line

Motor vehicles

over 3 years straight line

1.5

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.

1.6

Stock and work in progress

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

WILLIAM DUNCAN (BUSINESS RECOVERY) LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2015

- 4 -

Fixed assets

Tangible assets

Cost

At 1 January 2015

81,431

Additions

11,315

Disposals

(6,910)

At 31 December 2015

85,836

Depreciation

At 1 January 2015

22,511

On disposals

(6,910)

Charge for the year

15,417

At 31 December 2015

31,018

Net book value

At 31 December 2015

54,818

At 31 December 2014

59,304

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £4,779 (2014 - £3,773).

Creditors: amounts falling due after more than one year

The aggregate amount of creditors for which security has been given amounted to £1,631 (2014 - £6,289).

Share capital

2015

2014

Allotted, called up and fully paid

120 Ordinary A of £1 each

120

40 Ordinary B of £1 each

75,000 Cumulative redeemable preference of £1 each

75,000

75,160

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.