G S Light Haulage Ltd - Limited company - abbreviated - 11.9

REGISTERED NUMBER: SC237004 (Scotland)

Abbreviated Accounts for the Year Ended 31 March 2015

for

G S Light Haulage Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

G Skea

SECRETARY:

Mrs J Skea

REGISTERED OFFICE:

Caldene

Hardhillock

Maryculter

ABERDEENSHIRE

AB12 5GQ

REGISTERED NUMBER:

SC237004 (Scotland)

ACCOUNTANTS:

J M Taylor

5 Rubislaw Terrace

ABERDEEN

AB10 1XE

FIXED ASSETS

Tangible assets

2

415,414

290,177

CURRENT ASSETS

Debtors

251,079

337,537

Cash at bank

64,559

22,764

315,638

360,301

CREDITORS

Amounts falling due within one year

214,712

273,891

NET CURRENT ASSETS

100,926

86,410

TOTAL ASSETS LESS CURRENT LIABILITIES

516,340

376,587

CREDITORS

Amounts falling due after more than one year

(135,514

)

(78,151

)

PROVISIONS FOR LIABILITIES

(75,106

)

(55,852

)

NET ASSETS

305,720

242,584

CAPITAL AND RESERVES

Called up share capital

3

2

2

Profit and loss account

305,718

242,582

SHAREHOLDERS' FUNDS

305,720

242,584

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 2 December 2015 and were signed by:

G Skea - 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

10% on cost

Plant and machinery

-

25% on cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on cost

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

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.

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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

515,188

Additions

252,660

Disposals

(76,899

)

At 31 March 2015

690,949

DEPRECIATION

At 1 April 2014

225,011

Charge for year

109,094

Eliminated on disposal

(58,570

)

At 31 March 2015

275,535

NET BOOK VALUE

At 31 March 2015

415,414

At 31 March 2014

290,177

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.15

31.3.14

value:

£

£

2

Ordinary

£1

2

2