Drysdale Brothers (Larbert) Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: SC015465 (Scotland)

Abbreviated Unaudited Accounts for the Year Ended 31 December 2014

for

Drysdale Brothers (Larbert) Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

D J Drysdale

A D Drysdale

M B Drysdale

J W Drysdale

E G Ward

D R Drysdale

Mrs L I Anderson

R McFarlane

SECRETARY:

D J Drysdale

REGISTERED OFFICE:

340 Main Street

Stenhousemuir

Larbert

FK5 3BG

REGISTERED NUMBER:

SC015465 (Scotland)

ACCOUNTANTS:

James Gunn

Chartered Accountants

10 Duckburn Business Park

Dunblane

FK15 0EW

BANKERS:

The Royal Bank of Scotland plc

107/109 King Street

Stenhousemuir

Larbert

Stirlingshire

FK5 4HD

FIXED ASSETS

Intangible assets

2

-

5,126

Tangible assets

3

1,789,263

1,848,760

Investments

4

100

100

1,789,363

1,853,986

CURRENT ASSETS

Stocks

656,698

643,201

Debtors

614,993

784,480

Cash at bank

361,953

46,462

1,633,644

1,474,143

CREDITORS

Amounts falling due within one year

5

743,515

699,797

NET CURRENT ASSETS

890,129

774,346

TOTAL ASSETS LESS CURRENT LIABILITIES

2,679,492

2,628,332

CREDITORS

Amounts falling due after more than one year

5

(370,799

)

(466,857

)

PROVISIONS FOR LIABILITIES

(176,624

)

(172,341

)

NET ASSETS

2,132,069

1,989,134

CAPITAL AND RESERVES

Called up share capital

6

14,504

14,504

Revaluation reserve

310,297

361,429

Capital redemption reserve

7,000

7,000

Other reserves

7,851

7,851

Profit and loss account

1,792,417

1,598,350

SHAREHOLDERS' FUNDS

2,132,069

1,989,134

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2014 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 12 March 2015 and were signed on its behalf by:

D J Drysdale - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention, modified to include the

revaluation of land and buildings, and in accordance with the Financial Reporting Standard for Smaller Entities

(effective January 2008).

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 8 Related

Party Disclosures, not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is the amount derived from ordinary activities, net of discounts, VAT and other sales related taxes.

Software

Computer software licenses acquired for process and manufacturing functions,and not integral to an item of

property,plant or equipment are capitalised as an intangible asset on the basis of the costs incurred to acquire and

bring into use the specific software. The costs are amortised on a straight line basis and charged to the profit and

loss account over the estimated useful life of the software,not exceeding four years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Land and buildings

-

2% on cost or valuation

Plant and machinery etc

-

at varying rates on cost and at variable rates on reducing balance

Stocks and work in progress

Stocks and work in progress, including outward consignment inventories, are valued at the lower of cost and net

realisable value on a first-in,first-out basis. Cost comprises raw material, labour and attributable production

overheads.

Deferred tax

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

sheet date.

Research and development

Research expenditure is written off as incurred. Development expenditure is similarly treated unless it relates to

the production of new or substantially improved products,in which case it may be capitalised as incurred after the

technical feasibility and commercial viability of the products have been proven, and costs can be measured

accurately. Capitalised development expenditure is written off over the expected life of the product,subject to a

maximum period of 10 years.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at

the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Operating lease rentals and any incentives receivable are recognised in the profit and loss account on a

straight-line basis over the term 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.

Investments

Investments are recorded at historical cost, less a provision for impairment if it is considered that the carrying

value may not be recoverable.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2014

and 31 December 2014

61,505

AMORTISATION

At 1 January 2014

56,379

Amortisation for year

5,126

At 31 December 2014

61,505

NET BOOK VALUE

At 31 December 2014

-

At 31 December 2013

5,126

3.	TANGIBLE FIXED ASSETS

Total

£

COST OR VALUATION

At 1 January 2014

4,228,136

Additions

265,671

Disposals

(86,040

)

At 31 December 2014

4,407,767

DEPRECIATION

At 1 January 2014

2,379,376

Charge for year

289,877

Eliminated on disposal

(50,749

)

At 31 December 2014

2,618,504

NET BOOK VALUE

At 31 December 2014

1,789,263

At 31 December 2013

1,848,760

4.	FIXED ASSET INVESTMENTS

5.

CREDITORS

Creditors include an amount of £ 88,236 (31/12/13 - £ 172,483 ) for which security has been given.

They also include the following debts falling due in more than five years:

31/12/14

31/12/13

£

£

Repayable by instalments

57,254

101,617

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/12/14

31/12/13

value:

£

£

14,504

Ordinary

£1

14,504

14,504