Ayrshire Motorpart Limited - Limited company - abbreviated

REGISTERED NUMBER: SC082511 (Scotland)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2014

FOR

AYRSHIRE MOTORPART LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

C McKechnie

J McKechnie

SECRETARY:

C McKechnie

REGISTERED OFFICE:

121A Henrietta Street

Girvan

Ayrshire

KA26 0AE

REGISTERED NUMBER:

SC082511 (Scotland)

ACCOUNTANTS:

Galbraith Pritchards

Chartered Accountants

16 Hamilton Street

Girvan

Ayrshire

KA26 9EY

FIXED ASSETS

Tangible assets

2

24,692

26,693

CURRENT ASSETS

Stocks

34,950

35,539

Debtors

6,567

8,704

Cash at bank and in hand

8,109

2,367

49,626

46,610

CREDITORS

Amounts falling due within one year

10,897

11,021

NET CURRENT ASSETS

38,729

35,589

TOTAL ASSETS LESS CURRENT
LIABILITIES

63,421

62,282

CREDITORS

Amounts falling due after more than one
year

28,521

NET ASSETS

34,900

33,761

CAPITAL AND RESERVES

Called up share capital

3

16,000

Profit and loss account

18,900

17,761

SHAREHOLDERS' FUNDS

34,900

33,761

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 25 August 2015 and were signed on its behalf by:

C McKechnie - 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 April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

not provided

Plant and machinery etc

-

33.33% on cost, 25% on reducing balance and 15% on reducing balance

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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2014

and 31 December 2014

42,032

DEPRECIATION

At 1 January 2014

15,339

Charge for year

2,001

At 31 December 2014

17,340

NET BOOK VALUE

At 31 December 2014

24,692

At 31 December 2013

26,693

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/12/14

31/12/13

value:

£

16,000

Ordinary Shares

£1

16,000

Ayrshire Motorpart Limited - Limited company - abbreviated - 11.6

Ayrshire Motorpart Limited - Limited company - abbreviated - 11.6