Paxton & Paxton Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: SC318067 (Scotland)

PAXTON & PAXTON LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 JANUARY 2014

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Accountants' Report

6

DIRECTOR:

Bryan Paxton

SECRETARY:

Pauline Jean Paxton

REGISTERED OFFICE:

Lediffton House

Sauchie Road

CRIEFF

Perthshire

PH7 4EE

REGISTERED NUMBER:

SC318067 (Scotland)

ACCOUNTANTS:

Johnston Carmichael LLP

Axis Business Centre

Thainstone

Inverurie

Aberdeenshire

AB51 5TB

FIXED ASSETS

Tangible assets

2

1,160

1,766

CURRENT ASSETS

Debtors

37,557

14,554

Cash at bank

306,095

436,415

343,652

450,969

CREDITORS

Amounts falling due within one year

43,990

164,523

NET CURRENT ASSETS

299,662

286,446

TOTAL ASSETS LESS CURRENT LIABILITIES

300,822

288,212

PROVISIONS FOR LIABILITIES

231

-

NET ASSETS

300,591

288,212

CAPITAL AND RESERVES

Called up share capital

3

10

10

Profit and loss account

300,581

288,202

SHAREHOLDERS' FUNDS

300,591

288,212

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 23 September 2014 and were signed by:

Bryan Paxton - 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 income received and receivable, as adjusted for the flat rate VAT scheme, from

the provision of engineering services.

Tangible fixed assets

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

Computer equipment

-

25% on cost

Deferred tax

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

the balance sheet date.

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 assets of the company after

deducting all liabilities.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 February 2013

and 31 January 2014

4,063

DEPRECIATION

At 1 February 2013

2,297

Charge for year

606

At 31 January 2014

2,903

NET BOOK VALUE

At 31 January 2014

1,160

At 31 January 2013

1,766

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

10

Ordinary

£1

10

10

The following reproduces the text of the report prepared for the director 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 Paxton & Paxton Limited for the year ended 31 January 2014 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 of Scotland, we are subject to its

ethical and other professional requirements which are detailed at

http://www.icas.org.uk/accountspreparationguidance.

This report is made solely to the director of Paxton & Paxton Limited in accordance with our terms of

engagement. Our work has been undertaken solely to prepare for your approval the financial statements of

Paxton & Paxton Limited and state those matters that we have agreed to state to the director of Paxton &

Paxton Limited in this report in accordance with the requirements of the Institute of Chartered Accountants

of Scotland as detailed at http://www.icas.org.uk/accountspreparationguidance. To the fullest extent

permitted by law, we do not accept or assume responsibility to anyone other than the company and its

director for our work or for this report.

It is your duty to ensure that Paxton & Paxton 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 Paxton & Paxton Limited. You consider that Paxton & Paxton 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 Paxton &

Paxton 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.

Johnston Carmichael LLP

Axis Business Centre

Thainstone

Inverurie

Aberdeenshire

AB51 5TB

23 September 2014