Aberdeen Design Limited - Period Ending 2014-03-31

Aberdeen Design Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2014

Baker Tilly Tax and Accounting Limited
Chartered Accountants
52 - 54 Queen's Road
Aberdeen
AB15 4YE

Aberdeen Design Limited
Contents

Accountants' Report

Abbreviated Balance Sheet

2 to 3

Notes to the Abbreviated Accounts

4 to 5

Accountant's Report to the Board of Directors on the Preparation of the
Unaudited Abbreviated Financial Statements of Aberdeen Design Limited
for the Year Ended 31 March 2014

In order to assist you to fulfil your duties under the Companies Act 2006, we prepared for your approval the abbreviated financial statements of Aberdeen Design Limited which comprise the Balance Sheet, and the related notes as set out on pages 2 to 5 from the 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 http://www.icaew.com/en/members/regulations-standards-and-guidance.

This report is made solely to the board of directors of Aberdeen Design Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Aberdeen Design Limited and state those matters that we have agreed to state to them in accordance with AAF 2/10 as detailed at icaew.com/compilation. This report should not therefore be regarded as suitable to be used or relied on by any other party wishing to acquire any rights against Baker Tilly Tax and Accounting Limited for any purpose or in any context. Any party other than the directors which obtains access to this report or a copy and chooses to rely on this report (or any part of it) will do so at its own risk. To the fullest extent permitted by law, Baker Tilly Tax and Accounting Limited will accept no responsibility or liability in respect of this report to any other party and shall not be liable for any loss, damage or expense of whatsoever nature which is caused by any person's reliance on representations in this report.

It is your duty to ensure that Aberdeen Design 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 Aberdeen Design Limited under the Companies Act 2006. You consider that Aberdeen Design 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 accounts of Aberdeen Design 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 or abbreviated financial statements.

......................................

Baker Tilly Tax and Accounting Limited
Chartered Accountants
52 - 54 Queen's Road
Aberdeen
AB15 4YE

24 December 2014

Page 1

Aberdeen Design Limited
(Registration number: SC219779)
Abbreviated Balance Sheet at 31 March 2014

	Note	2014 £	2013 £
Fixed assets
Tangible fixed assets	2	6,847	1,415
Current assets
Debtors		60,052	41,381
Cash at bank and in hand		35,406	50,268
		95,458	91,649
Creditors: Amounts falling due within one year		(57,113)	(52,617)
Net current assets		38,345	39,032
Total assets less current liabilities		45,192	40,447
Provisions for liabilities		(1,369)	-
Net assets		43,823	40,447
Capital and reserves
Called up share capital	3	100	100
Profit and loss account		43,723	40,347
Shareholders' funds		43,823	40,447

The notes on pages 4 to 5 form an integral part of these financial statements.

Page 2

Aberdeen Design Limited
(Registration number: SC219779)
Abbreviated Balance Sheet at 31 March 2014
......... continued

For the year ending 31 March 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

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

Approved by the Board on 24 December 2014 and signed on its behalf by:

.........................................
Hugh Cameron Purdie
Director

The notes on pages 4 to 5 form an integral part of these financial statements.

Page 3

Aberdeen Design Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 revenue recognised in the accounts. Revenue is recognised when the company fulfils its contractual obligations to customers by supplying services and excludes value added tax. When an invoice in a future period includes income relating to the current period, that income is included in the current period as accrued income.

Depreciation

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

Asset class	Depreciation method and rate
Fixtures & Fittings	4 years straight line
Equipment	3 years straight line

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as 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 of its liabilities.

Pensions

The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.

Page 4

Aberdeen Design Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2014
......... continued

2	Fixed assets

	Tangible assets £	Total £
Cost
At 1 April 2013	5,930	5,930
Additions	10,110	10,110
At 31 March 2014	16,040	16,040
Depreciation
At 1 April 2013	4,515	4,515
Charge for the year	4,678	4,678
At 31 March 2014	9,193	9,193
Net book value
At 31 March 2014	6,847	6,847
At 31 March 2013	1,415	1,415

3	Share capital

Allotted, called up and fully paid shares

	2014			2013
		No.	£		No.	£
Ordinary A shares of £1 each		45	45		45	45
Ordinary B shares of £1 each		35	35		35	35
Ordinary C shares of £1 each		10	10		10	10
Ordinary D shares of £1 each		10	10		10	10
		100	100		100	100

4	Related party transactions

At 31 March 2013 a director was due £458 from the company. During the year the company paid amounts on behalf of the director totalling £20,328. At the year end the director was due the company £19,870. The balance is interest free and repayable on demand. The maximum amount outstanding during the year was £19,870.

Page 5