SCOTTISH_FENCING_LIMITED - Accounts

SCOTTISH FENCING LIMITED - Company Information

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Company Registration No. SC265956 (Scotland)

SCOTTISH FENCING LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2016

SCOTTISH FENCING LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

SCOTTISH FENCING LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

21,235

25,578

Current assets

Debtors

5,348

9,891

Cash at bank and in hand

63,693

14,351

69,041

24,242

Creditors: amounts falling due within one year

(46,785)

(30,239)

Net current assets/(liabilities)

22,256

(5,997)

Total assets less current liabilities

43,491

19,581

Provisions for liabilities

(3,989)

(4,801)

39,502

14,780

Capital and reserves

Profit and loss account

39,502

14,780

Shareholders' funds

39,502

14,780

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 1 December 2016

Mr C R C Hyde

Director

Company Registration No. SC265956

SCOTTISH FENCING LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

- 2 -

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

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:

Fencing equipment

20% on cost and 10% on cost

Office equipment

25% on reducing balance

1.5

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

1.6

Grants

Grants are credited to profit and loss account in the same period as the related expenditure.

Outstanding grant claims for expenditure incurred in the year are accrued and included within debtors.

Deferred grants are expected to be spent in the twelve months following the company's year end.

Government grants in respect of capital expenditure are treated as deferred income and are credited to profit and loss account over the useful life of the assets to which they relate.

1.7

Member's subscription

Subscriptions are credited to profit and loss account in the same period of membership that the subscription covers.

1.8

Other income

All other income is accounted for on the accrual basis.

SCOTTISH FENCING LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2016

- 3 -

Fixed assets

Tangible assets

Cost

At 1 April 2015 & at 31 March 2016

63,319

Depreciation

At 1 April 2015

37,741

Charge for the year

4,343

At 31 March 2016

42,084

Net book value

At 31 March 2016

21,235

At 31 March 2015

25,578