Alba Lock And Safe Company Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: SC276680 (Scotland)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE PERIOD

1 DECEMBER 2015 TO 31 DECEMBER 2016

FOR

ALBA LOCK AND SAFE COMPANY LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

R Meechan

SECRETARY:

R Meechan

REGISTERED OFFICE:

Pardovan Works

Philpstoun

Linlithgow

West Lothian

EH49 7TT

REGISTERED NUMBER:

SC276680 (Scotland)

ACCOUNTANTS:

D S Anderson

Chartered Accountant

DS Anderson & Co

62 Townhead

Kirkintilloch

Glasgow

G66 1NZ

FIXED ASSETS

Tangible assets

2

26,914

35,557

CURRENT ASSETS

Stocks

4,795

Debtors

79,936

101,220

Cash at bank

107,934

111,880

192,665

217,895

CREDITORS

Amounts falling due within one year

(78,075

)

(130,477

)

NET CURRENT ASSETS

114,590

87,418

TOTAL ASSETS LESS CURRENT
LIABILITIES

141,504

122,975

CREDITORS

Amounts falling due after more than one year

(14,007

)

(23,913

)

PROVISIONS FOR LIABILITIES

(4,603

)

(6,145

)

NET ASSETS

122,894

92,917

CAPITAL AND RESERVES

Called up share capital

3

2

Profit and loss account

122,892

92,915

SHAREHOLDERS' FUNDS

122,894

92,917

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 30 June 2017 and were signed by:

R Meechan - Director

1.	ACCOUNTING POLICIES

Basis of accounting

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 VAT.

Depreciation

Depreciation has been provided at the following annual rates in order to write off each asset over its useful life:-

Plant & Machinery

25% RB

Office equipment

25% RB

Computer Equipment

33 1/3 % SL

Motor Vehicles

25% RB

Stocks

Stocks are valued at the lower of cost or net realisable after making due allowances for obsolete and slow moving

items.

Deferred tax

Provision is made at the appropriate rates for taxation deferred in respect of all material timing differences only to

the extent that in the opinion of the directors, there is a reasonable probability that a liability or an asset will

crystallise in the foreseeable future.

Hire purchase and leasing commitments

Assets acquired under finance leases or hire purchase contracts are capitalised as tangible assets and depreciated

over their useful lives. Finance charges and interest are taken to the profit and loss account in constant proportion

to the remaining balance of capital repayments or net obligations outstanding.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 December 2015

97,421

Additions

750

At 31 December 2016

98,171

DEPRECIATION

At 1 December 2015

61,864

Charge for period

9,393

At 31 December 2016

71,257

NET BOOK VALUE

At 31 December 2016

26,914

At 30 November 2015

35,557

The written down value of assets acquired through hire purchase amounts to £18,088 (2015; £24,119)

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.16

30.11.15

value:

£

2

Ordinary

1

2

4.	CONTROLLING PARTY

The company is controlled by Mr R Meechan.