THE_FINTRY_INN_COLLECTIVE - Accounts

THE FINTRY INN COLLECTIVE LIMITED - Company Information

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Company Registration No. SC412773 (Scotland)

THE FINTRY INN COLLECTIVE LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2016

THE FINTRY INN COLLECTIVE LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

THE FINTRY INN COLLECTIVE LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2016

- 1 -

2016

2015

Notes

Fixed assets

Intangible assets

18,000

21,000

Tangible assets

23,282

28,798

41,282

49,798

Current assets

Stocks

1,770

3,182

Debtors

5,914

9,844

Cash at bank and in hand

9,641

7,833

17,325

20,859

Creditors: amounts falling due within one year

(150,338)

(151,470)

Net current liabilities

(133,013)

(130,611)

Total assets less current liabilities

(91,731)

(80,813)

Creditors: amounts falling due after more than one year

(33,750)

(35,000)

(125,481)

(115,813)

Capital and reserves

Profit and loss account

(125,481)

(115,813)

Shareholders' funds

(125,481)

(115,813)

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 23 December 2016

Dr Sue Wallace

Director

Company Registration No. SC412773

THE FINTRY INN COLLECTIVE 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).

These accounts have been prepared on the going concern basis, on the basis that the directors will continue to provide financial support to the company for the foreseeable future.

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

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic 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:

Plant and machinery

25% - straight line

Fixtures, fittings & equipment

25% - straight line

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 April 2015

30,000

53,989

83,989

Additions

10,642

At 31 March 2016

30,000

64,631

94,631

Depreciation

At 1 April 2015

9,000

25,192

34,192

Charge for the year

3,000

16,157

19,157

At 31 March 2016

12,000

41,349

53,349

Net book value

At 31 March 2016

18,000

23,282

41,282

At 31 March 2015

21,000

28,798

49,798

THE FINTRY INN COLLECTIVE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2016

- 3 -

Creditors: amounts falling due after more than one year

2016

2015

Analysis of loans repayable in more than five years

Total amounts repayable by instalments which are due in more than five years

14,750

20,000