Kinloss Garage Limited - Abbreviated accounts 16.1
Kinloss Garage Limited - Abbreviated accounts 16.1
| REGISTERED NUMBER: |
| ABBREVIATED ACCOUNTS FOR THE YEAR ENDED 29 FEBRUARY 2016 |
| FOR |
| KINLOSS GARAGE LIMITED |
| KINLOSS GARAGE LIMITED (REGISTERED NUMBER: SC416298) |
| CONTENTS OF THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 29 FEBRUARY 2016 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 4 |
| Chartered Accountants' Report | 6 |
| KINLOSS GARAGE LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 29 FEBRUARY 2016 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| BUSINESS ADDRESS: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| BANKERS: |
| KINLOSS GARAGE LIMITED (REGISTERED NUMBER: SC416298) |
| ABBREVIATED BALANCE SHEET |
| 29 FEBRUARY 2016 |
| 2016 | 2015 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 2 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 3 |
| 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. |
| KINLOSS GARAGE LIMITED (REGISTERED NUMBER: SC416298) |
| ABBREVIATED BALANCE SHEET - continued |
| 29 FEBRUARY 2016 |
| The financial statements were approved by the Board of Directors on by: |
| KINLOSS GARAGE LIMITED (REGISTERED NUMBER: SC416298) |
| NOTES TO THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 29 FEBRUARY 2016 |
| 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). |
| Exemption from preparing a cash flow statement |
| Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a |
| small company. |
| Turnover |
| Turnover represents net invoiced sales of goods and services, excluding Value Added Tax. |
| Tangible fixed assets |
| Plant and machinery etc | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
| moving items. |
| 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. |
| 2. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 March 2015 |
| Additions |
| Disposals | ( |
) |
| At 29 February 2016 |
| DEPRECIATION |
| At 1 March 2015 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 29 February 2016 |
| NET BOOK VALUE |
| At 29 February 2016 |
| At 28 February 2015 |
| KINLOSS GARAGE LIMITED (REGISTERED NUMBER: SC416298) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| FOR THE YEAR ENDED 29 FEBRUARY 2016 |
| 3. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2016 | 2015 |
| value: | £ | £ |
| Ordinary | £1 |
| 4. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling parties are the directors, Mr & Mrs Housby, by virtue of their 100% equal ownership of |
| the issued Ordinary Share Capital. |
| CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
| ON THE UNAUDITED FINANCIAL STATEMENTS OF |
| KINLOSS GARAGE LIMITED |
| The following reproduces the text of the report prepared for the directors 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 Kinloss Garage Limited for the year ended 29 February 2016 on pages three to eight 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 Board of Directors of Kinloss Garage Limited, as a body, in accordance with the terms of our engagement letter dated 15 October 2013. Our work has been undertaken solely to prepare for your approval the financial statements of Kinloss Garage Limited and state those matters that we have agreed to state to the Board of Directors of Kinloss Garage Limited, as a body, 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 Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that Kinloss Garage 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 Kinloss Garage Limited. You consider that Kinloss Garage 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 Kinloss Garage 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. |
| 15 September 2016 |