Davidsons (Fraserburgh) Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: SC194107 (Scotland)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31ST MAY 2015

FOR

DAVIDSONS (FRASERBURGH) LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

B Davidson

REGISTERED OFFICE:

Seagate

Peterhead

Aberdeenshire

AB42 1JP

REGISTERED NUMBER:

SC194107 (Scotland)

ACCOUNTANTS:

Goldwells Ltd

37 Broad Street

Peterhead

Aberdeenshire

AB42 1JB

FIXED ASSETS

Tangible assets

2

10,975

14,163

CURRENT ASSETS

Stocks

58,600

17,743

Debtors

135,638

179,447

Cash at bank and in hand

6,549

40

200,787

197,230

CREDITORS

Amounts falling due within one year

53,890

97,442

NET CURRENT ASSETS

146,897

99,788

TOTAL ASSETS LESS CURRENT LIABILITIES

157,872

113,951

CAPITAL AND RESERVES

Called up share capital

3

100

100

Profit and loss account

157,772

113,851

SHAREHOLDERS' FUNDS

157,872

113,951

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2015 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 21st September 2015 and were signed by:

B Davidson - 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.

Plant and machinery etc

-

25% 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 1st June 2014

70,057

Additions

1,700

Disposals

(11,300

)

At 31st May 2015

60,457

DEPRECIATION

At 1st June 2014

55,894

Charge for year

3,660

Eliminated on disposal

(10,072

)

At 31st May 2015

49,482

NET BOOK VALUE

At 31st May 2015

10,975

At 31st May 2014

14,163

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

100

Ordinary

1

100

100