Grangemouth Tank Services Ltd - Abbreviated accounts 16.1

REGISTERED NUMBER: SC240026 (Scotland)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 2016

FOR

GRANGEMOUTH TANK SERVICES LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

G Scott

SECRETARY:

M Tinson

REGISTERED OFFICE:

C/O Calachem

Earls Road

Grangemouth

Stirlingshire

FK3 8XG

REGISTERED NUMBER:

SC240026 (Scotland)

ACCOUNTANT:

I M Neilson

Chartered Accountant

62e Cleveden Drive

Glasgow

G12 0NX

FIXED ASSETS

Tangible assets

2

370,436

232,440

CURRENT ASSETS

Debtors

458,804

493,018

Cash at bank

65,094

126,873

523,898

619,891

CREDITORS

Amounts falling due within one year

(183,195

)

(198,647

)

NET CURRENT ASSETS

340,703

421,244

TOTAL ASSETS LESS CURRENT
LIABILITIES

711,139

653,684

CREDITORS

Amounts falling due after more than one year

(138,562

)

(107,986

)

PROVISIONS FOR LIABILITIES

(39,906

)

(29,813

)

NET ASSETS

532,671

515,885

CAPITAL AND RESERVES

Called up share capital

3

2

Profit and loss account

532,669

515,883

SHAREHOLDERS' FUNDS

532,671

515,885

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 27 October 2016 and were signed by:

G Scott - 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 January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided on the straight line method on all tangible fixed assets at the following rates:-

Machinery & Equipment

20 - 33 1/3%

Office Equipment

33 1/3%

Motor Vehicles

25%

Furniture & Fixtures

20%

Deferred tax

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

sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2015

759,200

Additions

268,028

Disposals

(264,765

)

At 30 June 2016

762,463

DEPRECIATION

At 1 July 2015

526,760

Charge for year

92,106

Eliminated on disposal

(226,839

)

At 30 June 2016

392,027

NET BOOK VALUE

At 30 June 2016

370,436

At 30 June 2015

232,440

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.16

30.6.15

value:

£

2

ordinary

1

2