Abbreviated Company Accounts - GLENEVAN MILL LIMITED

Abbreviated Company Accounts - GLENEVAN MILL LIMITED

GLENEVAN MILL LIMITED - Company Information

Print Friendly Version

Registered Number SC064199

GLENEVAN MILL LIMITED

Abbreviated Accounts

28 February 2015

GLENEVAN MILL LIMITED Registered Number SC064199

Abbreviated Balance Sheet as at 28 February 2015

Notes 2015 2014
£ £
Fixed assets
Tangible assets 2 11,816 14,052
Investments 3 32,132 50,670
43,948 64,722
Current assets
Stocks 6,857 5,789
Debtors 62,188 62,056
Cash at bank and in hand 102,390 96,793
171,435 164,638
Creditors: amounts falling due within one year (65,738) (65,584)
Net current assets (liabilities) 105,697 99,054
Total assets less current liabilities 149,645 163,776
Total net assets (liabilities) 149,645 163,776
Capital and reserves
Called up share capital 23,857 23,857
Revaluation reserve - 763
Profit and loss account 125,788 139,156
Shareholders' funds 149,645 163,776
  • For the year ending 28 February 2015 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 27 November 2015

And signed on their behalf by:
P Gunn, Director

GLENEVAN MILL LIMITED Registered Number SC064199

Notes to the Abbreviated Accounts for the period ended 28 February 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents the total invoice value, excluding value added tax, of sales made during the year.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows :
Land and Buildings - No Charge
Fixtures, Fittings and Equipment - 25% Reducing Balance
Plant and Machinery - 25% Reducing Balance

Valuation information and policy
Stock is valued at the lower of cost and net realisable value.

Other accounting policies
Pensions: The pension costs charged in the financial statements represent the contribution payable by the company during the year.
The regular cost of providing retirement pensions and related benefits is charged to the profit and loss account over the employees service lives on the basis of a constant percentage of earnings.

2Tangible fixed assets
£
Cost
At 1 March 2014 52,528
Additions -
Disposals (36,832)
Revaluations -
Transfers -
At 28 February 2015 15,696
Depreciation
At 1 March 2014 38,476
Charge for the year 606
On disposals (35,202)
At 28 February 2015 3,880
Net book values
At 28 February 2015 11,816
At 28 February 2014 14,052

3Fixed assets Investments
Fixed Asset investments are stated at cost less provision for permanent diminution in value.