John Morrison (Highland Outfitters) Limi - Abbreviated accounts 16.1
John Morrison (Highland Outfitters) Limi - Abbreviated accounts 16.1
REGISTERED NUMBER: |
Abbreviated Accounts for the Year Ended 31 March 2016 |
for |
John Morrison (Highland Outfitters) |
Limited |
John Morrison (Highland Outfitters) |
Limited (Registered number: SC039987) |
Contents of the Abbreviated Accounts |
for the Year Ended 31 March 2016 |
Page |
Company Information | 1 |
Abbreviated Balance Sheet | 2 |
Notes to the Abbreviated Accounts | 4 |
Chartered Accountants' Report | 6 |
John Morrison (Highland Outfitters) |
Limited |
Company Information |
for the Year Ended 31 March 2016 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
John Morrison (Highland Outfitters) |
Limited (Registered number: SC039987) |
Abbreviated Balance Sheet |
31 March 2016 |
31.3.16 | 31.3.15 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 2 |
Tangible assets | 3 |
CURRENT ASSETS |
Stocks |
Debtors |
Prepayments and accrued income |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 4 |
Revaluation reserve |
Profit and loss account |
SHAREHOLDERS' FUNDS |
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. |
John Morrison (Highland Outfitters) |
Limited (Registered number: SC039987) |
Abbreviated Balance Sheet - continued |
31 March 2016 |
The financial statements were approved by the Board of Directors on behalf by: |
D Singh - Director | G Singh - Director |
S Singh - Director |
John Morrison (Highland Outfitters) |
Limited (Registered number: SC039987) |
Notes to the Abbreviated Accounts |
for the Year Ended 31 March 2016 |
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 January 2015). |
Changes in accounting policies |
The company changed its accounting policy in respect of freehold land and buildings that as from this year |
depreciation is to be provided on buildings to comply with the provisions of the Companies Act.1985. |
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 |
Land and buildings | - |
Plant and machinery etc | - |
Land is not depreciated. |
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. |
John Morrison (Highland Outfitters) |
Limited (Registered number: SC039987) |
Notes to the Abbreviated Accounts - continued |
for the Year Ended 31 March 2016 |
2. | INTANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 April 2015 |
and 31 March 2016 |
AMORTISATION |
At 1 April 2015 |
Amortisation for year |
At 31 March 2016 |
NET BOOK VALUE |
At 31 March 2016 |
At 31 March 2015 |
3. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 April 2015 |
Additions |
At 31 March 2016 |
DEPRECIATION |
Charge for year |
At 31 March 2016 |
NET BOOK VALUE |
At 31 March 2016 |
At 31 March 2015 |
4. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.3.16 | 31.3.15 |
value: | £ | £ |
Ordinary | 1 |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
John Morrison (Highland Outfitters) |
Limited |
The following reproduces the text of the report prepared for the directors in respect of the company's annual |
unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to five) |
have been prepared. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of John Morrison (Highland Outfitters) Limited for the year ended 31 March 2016 which |
comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records |
and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook. |
This report is made solely to the Board of Directors of John Morrison (Highland Outfitters) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of John Morrison (Highland Outfitters) Limited and state those matters that we have agreed to state to the Board of Directors of John Morrison (Highland Outfitters) Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that John Morrison (Highland Outfitters) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of John Morrison (Highland Outfitters) Limited. You consider that John Morrison (Highland Outfitters) Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of John Morrison (Highland Outfitters) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
28 December 2016 |