Green Field Marquees Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: SC263930 (Scotland)

Abbreviated Unaudited Accounts

for the Year Ended 29 February 2016

for

Green Field Marquees Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

M W Craig

M A L Campbell

SECRETARY:

M A L Campbell

REGISTERED OFFICE:

6 Logie Mill

Beaverbank Business Park

Edinburgh

Lothian

EH7 4HG

REGISTERED NUMBER:

SC263930 (Scotland)

ACCOUNTANTS:

A H & Co Ltd

Chartered Accountants

6 Logie Mill

Edinburgh

Lothian

EH7 4HG

FIXED ASSETS

Tangible assets

2

36,661

31,551

CURRENT ASSETS

Debtors

38,274

58,446

Cash at bank

78,113

70,474

116,387

128,920

CREDITORS

Amounts falling due within one year

139,504

124,044

NET CURRENT (LIABILITIES)/ASSETS

(23,117

)

4,876

TOTAL ASSETS LESS CURRENT LIABILITIES

13,544

36,427

CREDITORS

Amounts falling due after more than one year

(372

)

(5,337

)

PROVISIONS FOR LIABILITIES

(3,172

)

(1,237

)

NET ASSETS

10,000

29,853

CAPITAL AND RESERVES

Called up share capital

3

10,000

10,000

Profit and loss account

-

19,853

SHAREHOLDERS' FUNDS

10,000

29,853

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2016 in accordance with Section 476 of the Companies Act 2006.

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 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 Board of Directors on 11 November 2016 and were signed on its behalf by:

M A L Campbell - Director

M W Craig - 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).

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, excluding value added tax, except in respect of service contracts

where turnover is recognised when the company obtains the right to consideration.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

25% on cost

Deferred tax

Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods

different from those in which they are included in the company's accounts. Deferred tax is provided in full on

timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates

that are expected to apply when the timing differences reverse, based on current tax rates and laws.

Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no

commitment to sell the asset.

Deferred tax assets and liabilities are not discounted.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 March 2015

458,047

Additions

28,046

At 29 February 2016

486,093

DEPRECIATION

At 1 March 2015

426,496

Charge for year

22,936

At 29 February 2016

449,432

NET BOOK VALUE

At 29 February 2016

36,661

At 28 February 2015

31,551

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

29.2.16

28.2.15

value:

£

£

10,000

Ordinary

£1

10,000

10,000

4.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The company owed Miles Craig, director, £16,376 at the 29th February 2016 (2015: £0).

The company owed Murray Campbell, director, £16,376 at the 29th February 2016 (2015: £0).

5.	CONTROLLING INTEREST

There is no overall controlling interest.