Glenshee Limited - Abbreviated accounts 16.1
Glenshee Limited - Abbreviated accounts 16.1
| REGISTERED NUMBER: |
| Abbreviated Accounts for the Year Ended 30 November 2015 |
| for |
| Glenshee Limited |
| Glenshee Limited (Registered number: SC269348) |
| Contents of the Abbreviated Accounts |
| for the Year Ended 30 November 2015 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 3 |
| Glenshee Limited |
| Company Information |
| for the Year Ended 30 November 2015 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Glenshee Limited (Registered number: SC269348) |
| Abbreviated Balance Sheet |
| 30 November 2015 |
| 30.11.15 | 30.11.14 |
| 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 |
| 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. |
| The financial statements were approved by the Board of Directors on |
| Glenshee Limited (Registered number: SC269348) |
| Notes to the Abbreviated Accounts |
| for the Year Ended 30 November 2015 |
| 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). |
| Turnover |
| Turnover represents net invoiced sales of goods and services, excluding value added tax. |
| Goodwill |
| Goodwill, being the amount paid in connection with acquisition of the business in 2004, is being amortised |
| evenly over its estimated useful life of ten years. |
| Tangible fixed assets |
| Freehold property | - |
| Ski Equipment | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor Vehicles | - |
| Computer equipment | - |
| 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. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
| scheme are charged to the profit and loss account in the period to which they relate. |
| Employee benefits trust |
| The company has purchased a trust for the benefit of employees and certain of their dependants. Monies held in |
| this trust are held by independent trustees and managed at their discretion. |
| Where the company retains future economic benefit from,and has de facto control of the assets and liabilities of |
| the trust, they are accounted for as assets and liabilities of the company until the earlier of the date that an |
| allocation of trust funds to employees in respect of past services is declared and that assets of the trust vest in |
| identified individuals. |
| Where monies held in a trust are determined by the company on the basis of employees' past services to the |
| business and the company can obtain no future economic benefit from those monies,such monies, whether in |
| the trust or accrued for by the company are charged to the profit and loss account in the period to which they |
| relate. |
| H.M. Revenue & Customs have enquired into the nature of the treatment of the payments to the employee |
| benefit trust, but no liability is expected to arise on the company. |
| Grants |
| Grants relating to revenue are recognised in profit and loss on a systematic basis over the periods in which the |
| company recognises the related costs for which the grant is intended to compensate. |
| Capital - based grants are recognised in profit and loss on a systematic basis over the useful economic life of the |
| asset matching the associated depreciation charges. |
| Glenshee Limited (Registered number: SC269348) |
| Notes to the Abbreviated Accounts - continued |
| for the Year Ended 30 November 2015 |
| 2. | INTANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 December 2014 |
| and 30 November 2015 |
| AMORTISATION |
| At 1 December 2014 |
| Amortisation for year |
| At 30 November 2015 |
| NET BOOK VALUE |
| At 30 November 2015 |
| At 30 November 2014 |
| 3. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 December 2014 |
| Additions |
| Disposals | ( |
) |
| Grants received | (403,016 | ) |
| At 30 November 2015 |
| DEPRECIATION |
| At 1 December 2014 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 30 November 2015 |
| NET BOOK VALUE |
| At 30 November 2015 |
| At 30 November 2014 |
| 4. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 30.11.15 | 30.11.14 |
| value: | £ | £ |
| Ordinary A | £1.00 |
| Ordinary B | £1.00 |
| 145,000 | 145,000 |