TA Millard (Scotland) Limited Small abbreviated accounts

TA MILLARD (SCOTLAND) LTD. - Company Information

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Company Registration Number SC220557

TA Millard (Scotland) Limited

Unaudited Abbreviated Accounts

31 October 2016

DC Consulting (www.dcconsult.co.uk)

Chartered Accountants

TA Millard (Scotland) Limited

Abbreviated Balance Sheet

31 October 2016

		2016		2015
Note		£	£	£
Fixed Assets	2
Intangible assets			-	-
Tangible assets			43,694	42,648
			---------	---------
			43,694	42,648
			---------	---------

Current Assets

Stocks	164,636		202,373
Debtors	391,438		292,968
Cash at bank and in hand	33		58
	----------		----------
	556,107		495,399
Creditors: Amounts Falling due Within One Year	261,870		286,457
	----------		----------
Net Current Assets		294,237	208,942
		----------	----------
Total Assets Less Current Liabilities		337,931	251,590

Creditors: Amounts Falling due after More than One Year	22,917	3,750
	----------	----------
	315,014	247,840
	----------	----------

Capital and Reserves

Called up equity share capital	3	95,579	95,579
Share premium account		20,901	20,901
Profit and loss account		198,534	131,360
		----------	----------
Shareholders' Funds		315,014	247,840
		----------	----------

For the year ended 31st October 2016 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 accounts for the year in question in accordance with section 476; and

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

These abbreviated accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime.

These abbreviated accounts were approved by the directors and authorised for issue on 25 April 2017 , and are signed on their behalf by:

Mr K Pirie Director

Company Registration Number: SC220557

TA Millard (Scotland) Limited

Notes to the Abbreviated Accounts

Year Ended 31st October 2016

1. Accounting Policies

Basis of Accounting

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).

Turnover

The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Goodwill-5.5% Straight Line

Fixed Assets

All fixed assets are initially recorded at cost.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Tenants Improvements -10% and 25% Straight line

Plant & Machinery-10% and 25% Straight line

Fixtures & Fittings-25% Straight line

Equipment-25% Straight line

Work in Progress

Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

Operating Lease Agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Financial Instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the asset of the company after deducting all of its liabilities.

2. Fixed Assets

Intangible Assets	Tangible Assets	Total
£	£	£

Cost

At 1st November 2015	18,000	296,512	314,512
Additions	–	20,162	20,162
	---------	----------	----------
At 31st October 2016	18,000	316,674	334,674
	---------	----------	----------

Depreciation

At 1st November 2015	18,000	253,864	271,864
Charge for year	–	19,116	19,116
	---------	----------	----------
At 31st October 2016	18,000	272,980	290,980
	---------	----------	----------

Net Book Value

At 31st October 2016	–	43,694	43,694
	----	---------	---------

At 31st October 2015	–	42,648	42,648
	----	---------	---------

3. Share Capital

Allotted, called up and fully paid:

	2016		2015
	No.	£	No.	£
Ordinary shares of £ 1 each	95,579	95,579	95,579	95,579
	---------	---------	---------	---------

4. Ultimate Parent Company

The ultimate parent undertaking is Seabraes Limited, a company incorporated in Scotland.