ORKNEY_TOURISM_GROUP - Accounts

DESTINATION ORKNEY - Company Information

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Company Registration No. SC281692 (Scotland)

ORKNEY TOURISM GROUP

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2016

ORKNEY TOURISM GROUP

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

ORKNEY TOURISM GROUP

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2016

- 1 -

2016

2015

Notes

Fixed assets

Intangible assets

59,367

62,524

Tangible assets

1,322

3,555

60,689

66,079

Current assets

Debtors

74,382

80,462

Cash at bank and in hand

41,387

5,959

115,769

86,421

Creditors: amounts falling due within one year

(52,338)

(35,144)

Net current assets

63,431

51,277

Total assets less current liabilities

124,120

117,356

Provisions for liabilities

(7,615)

(8,909)

Accruals and deferred income

(38,832)

(31,757)

77,673

76,690

Capital and reserves

Profit and loss account

77,673

76,690

Shareholders' funds

77,673

76,690

ORKNEY TOURISM GROUP

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 MARCH 2016

- 2 -

For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 3 November 2016

Steve Sankey

Director

Company Registration No. SC281692

ORKNEY TOURISM GROUP

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Computer software

Computer software is capitalised and amortised over its useful estimated useful economic life. The Group's website is estimated to have a ten year life.

1.5

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, fittings & equipment

10 - 33% straight line

1.6

Deferred taxation

Deferred taxation is provided at appropriate rates on all timing differences using the liability method only to the extent that, in the opinion of the directors, there is a reasonable probability that a liability or asset will crystallise in the foreseeable future.

1.7

Government grants

Grants are credited to deferred revenue. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.

ORKNEY TOURISM GROUP

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2016

- 4 -

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 April 2015

72,072

11,810

83,882

Additions

4,500

735

5,235

Disposals

(1,937)

At 31 March 2016

76,572

10,608

87,180

Depreciation

At 1 April 2015

9,548

8,255

17,803

On disposals

(1,426)

Charge for the year

7,657

2,457

10,114

At 31 March 2016

17,205

9,286

26,491

Net book value

At 31 March 2016

59,367

1,322

60,689

At 31 March 2015

62,524

3,555

66,079