SCOTTISH_CRANNOG_CENTRE_L - Accounts

SCC TRADING LIMITED - Company Information

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Company Registration No. SC168613 (Scotland)

SCOTTISH CRANNOG CENTRE LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2015

SCOTTISH CRANNOG CENTRE LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

SCOTTISH CRANNOG CENTRE LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

112,021

112,704

Current assets

Stocks

5,486

5,071

Debtors

8,397

9,312

Cash at bank and in hand

429

992

14,312

15,375

Creditors: amounts falling due within one year

(20,134)

(26,407)

Net current liabilities

(5,822)

(11,032)

Total assets less current liabilities

106,199

101,672

Accruals and deferred income

(51,535)

(55,802)

54,664

45,870

Capital and reserves

Called up share capital

Profit and loss account

54,662

45,868

Shareholders' funds

54,664

45,870

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 9 November 2015

B L Andrian

Director

Company Registration No. SC168613

SCOTTISH CRANNOG CENTRE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2015

- 2 -

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 for admission and visitor centre sales net of VAT.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets other than freehold land 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:

Crannog Visitors Centre

Nil

Fittings and equipment

10% per annum reducing balance

Motor vehicles

20% per annum reducing balance

The Crannog Visitors Centre is not depreciated and in this respect the accounts do not comply with Financial Reporting Standard 15.

The Crannog Visitors Centre is maintained, as a matter of policy, such that the residual value of the Crannog Visitors Centre taken as a whole is at least equal to its book value. This fact can be verified by professional valuations when necessary. Having regard to this, it is the opinion of the directors that depreciation of the Crannog Visitors Centre as required by the accounting standards would not be material.

1.5

Stock

Stock is valued at the lower of cost and net realisable value.

1.6

Government grants

Grants are credited to deferred revenue. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets, except those received for the Crannog Visitors Centre which are being released over twenty years. Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.

1.7

Group accounts

The financial statements present information about the company as an individual undertaking and not about its group. The company and its holding company comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.

1.8

Changes to accounting policies

The company has adopted to change its policy for depreciation of the Crannog Visitors Centre. the policy has changed the depreciation charge from 4% straight line to no depreciation. The effect of this change is to increase the profits each year by £4,267. This change applies to accounting periods commencing 1 April 2013. The adoption of this change to depreciation represents a change in accounting policy and the comparative figures have been restated accordingly.

SCOTTISH CRANNOG CENTRE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2015

Accounting policies

(Continued)

- 3 -

Fixed assets

Tangible assets

Cost

At 1 April 2014 & at 31 March 2015

142,985

Depreciation

At 1 April 2014

30,281

Charge for the year

683

At 31 March 2015

30,964

Net book value

At 31 March 2015

112,021

At 31 March 2014

112,704

Share capital

2015

2014

Allotted, called up and fully paid

2 Ordinary Shares of £1 each