Caithness Horizons Trading Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: SC333203 (Scotland)

Abbreviated Accounts for the Year Ended 31 March 2016

for

Caithness Horizons Trading Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

P Cariss

Miss T Wrighton

Ms H M Lamont

W J Mackay

Ms D Foss

P R G Arthur

R Saxon

C W Brown

SECRETARY:

Miss R L Pope

REGISTERED OFFICE:

The Old Town Hall

High Street

Thurso

Caithness

KW14 8AJ

REGISTERED NUMBER:

SC333203 (Scotland)

ACCOUNTANTS:

Reid & Fraser

Chartered Accountants

15 Princes Street

Thurso

Caithness

KW14 7BQ

FIXED ASSETS

Tangible assets

2

2,863

3,817

CURRENT ASSETS

Stocks

3,547

3,064

Debtors

4,419

5,571

Cash at bank and in hand

4,683

513

12,649

9,148

CREDITORS

Amounts falling due within one year

(5,427

)

(12,249

)

NET CURRENT ASSETS/(LIABILITIES)

7,222

(3,101

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

10,085

716

CAPITAL AND RESERVES

Called up share capital

3

1

Profit and loss account

10,084

715

SHAREHOLDERS' FUNDS

10,085

716

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 23 November 2016 and were signed on its behalf by:

P Cariss - 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 the total of all café and shop sales, net of value added tax, together with value of rents receivable from

room hire in the year.

TANGIBLE FIXED ASSETS

All assets are initially recorded at cost. Depreciation is provided at the following annual rates in order to write off each

asset over its estimated useful life:

Fixtures and fittings 25% reducing balance

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 provided in full, using the liability method, on temporary differences arising between the tax bases of assets

and liabilities and their carrying amount in the balance sheet. It is provided using the tax rates that are expected to apply in

the period when the asset or liability is settled, based on the tax rates that have been enacted or substantively enacted at the

balance sheet date.

Deferred tax assets are recognised to the extent that it is probable that future taxable profits will be available against which

temporary differences can be utilised.

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 April 2015

and 31 March 2016

19,193

DEPRECIATION

At 1 April 2015

15,376

Charge for year

954

At 31 March 2016

16,330

NET BOOK VALUE

At 31 March 2016

2,863

At 31 March 2015

3,817

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

1

Ordinary

£1

1

4.	ULTIMATE PARENT COMPANY

Caithness Horizons is the ultimate parent company of Caithness Horizons Trading Ltd, holding 100% of the issued share

capital. Advantage is being taken of the exemption to prepare group accounts on the grounds that it is a small group.