Vehicle Solutions (Scotland) Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: SC308626 (Scotland)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

FOR

VEHICLE SOLUTIONS (SCOTLAND) LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

K McGowan

B Rosenthall

SECRETARY:

B Rosenthall

REGISTERED OFFICE:

2-8 Carnoustie Place

Glasgow

G5 8PH

REGISTERED NUMBER:

SC308626 (Scotland)

ACCOUNTANTS:

D S Anderson

Chartered Accountant

DS Anderson & Co

62 Townhead

Kirkintilloch

Glasgow

G66 1NZ

FIXED ASSETS

Intangible assets

2

9,000

Tangible assets

3

80,069

58,145

89,069

67,145

CURRENT ASSETS

Stocks

29,751

24,415

Debtors

54,739

47,839

Cash at bank and in hand

46,279

44,477

130,769

116,731

CREDITORS

Amounts falling due within one year

(126,763

)

(138,980

)

NET CURRENT ASSETS/(LIABILITIES)

4,006

(22,249

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

93,075

44,896

CREDITORS

Amounts falling due after more than one year

(30,991

)

(16,216

)

PROVISIONS FOR LIABILITIES

(12,678

)

(7,983

)

NET ASSETS

49,406

20,697

CAPITAL AND RESERVES

Called up share capital

4

100

Profit and loss account

49,306

20,597

SHAREHOLDERS' FUNDS

49,406

20,697

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 30 December 2016 and were signed on its behalf
by:

K McGowan - 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 net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 1st April 2008, is reviewed

annually by the directors.

Tangible fixed assets

Franchises

10% SL

Office equipment, fixtures & fittings

20% SL

Computer equipment

33 1/3% SL

Leasehold Property

10% SL

Motor Vehicles, plant & machinery

25% RB

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 recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

and 31 March 2016

9,000

NET BOOK VALUE

At 31 March 2016

9,000

At 31 March 2015

9,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

97,281

Additions

48,408

Disposals

(9,300

)

At 31 March 2016

136,389

DEPRECIATION

At 1 April 2015

39,136

Charge for year

21,253

Eliminated on disposal

(4,069

)

At 31 March 2016

56,320

NET BOOK VALUE

At 31 March 2016

80,069

At 31 March 2015

58,145

The written down value of assets held under HP contracts amounted to £15,245 (2015: £5,231)

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.16

31.3.15

value:

£

100

Ordinary

1

100

5.	DIRECTORS' CURRENT ACCOUNT

The balance on the directors' current account at the year end amounted to £26,108 due by the company.

(2015: £21,994 due by the company)