SPC_BORDERS - Accounts

S.P.C. BORDERS - Company Information

Print Friendly Version

Company Registration No. SC123505 (Scotland)

SPC BORDERS

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2015

SPC BORDERS

CONTENTS

Page

Accountants' report

Abbreviated balance sheet

Notes to the abbreviated accounts

3 - 4

SPC BORDERS

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SPC BORDERS FOR THE YEAR ENDED 31 MARCH 2015

- 1 -

The following reproduces the text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited abbreviated financial statements set out on pages 2 to 4 have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of SPC Borders for the year ended 31 March 2015 set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the the Institute of Chartered Accountants of Scotland, we are subject to its ethical and other professional requirements which are detailed at www.icas.org.uk/accountspreparationguidance.

This report is made solely to the Board of Directors of SPC Borders, as a body, in accordance with the terms of our engagement letter dated 2 June 2005. Our work has been undertaken solely to prepare for your approval the financial statements of SPC Borders and state those matters that we have agreed to state to the Board of Directors of SPC Borders, as a body, in this report in accordance with AAF 2/10 as detailed at www.icas.org.uk/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SPC Borders and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that SPC Borders has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of SPC Borders. You consider that SPC Borders is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of SPC Borders. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Hogg & Thorburn

23 October 2015

Chartered Accountants

Moat House

14 Gala Park

GALASHIELS

Scottish Borders

TD1 1EX

SPC BORDERS

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2015

- 2 -

2015

2014

Notes

Fixed assets

Tangible assets

20,646

33,337

Current assets

Debtors

18,270

19,380

Cash at bank and in hand

5,750

8,583

24,020

27,963

Creditors: amounts falling due within one year

(11,858)

(11,765)

Net current assets

12,162

16,198

Total assets less current liabilities

32,808

49,535

Creditors: amounts falling due after more than one year

(3,320)

(6,385)

Provisions for liabilities

(3,953)

(6,267)

25,535

36,883

Capital and reserves

Other reserves

8,200

Profit and loss account

17,335

28,683

Shareholders' funds

25,535

36,883

For the financial year ended 31 March 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 21 October 2015

David Kilshaw OBE

Director

Company Registration No. SC123505

SPC BORDERS

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2015

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable services net of VAT.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

25% reducing balance

Fixtures, fittings & equipment

Straight line basis over 3 years.

Motor vehicles

25% reducing balance

1.5

Deferred taxation

Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

Fixed assets

Tangible assets

Cost

At 1 April 2014 & at 31 March 2015

111,927

Depreciation

At 1 April 2014

78,590

Charge for the year

12,691

At 31 March 2015

91,281

Net book value

At 31 March 2015

20,646

At 31 March 2014

33,337

SPC BORDERS

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2015

- 4 -

Related party relationships and transactions

Other transactions

David A G Kilshaw OBE a director of the company is a partner in Cullen Kilshaw Solicitors who provided the company with professional services amounting to £2,000 (2014 - £2,000).

The balance outstanding at the year end date was £4,000 (2014 - £2,000) and is included in other creditors.