Tursachan Trading Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: SC157572 (Scotland)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2015

FOR

TURSACHAN TRADING LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

B Barrett

S A Fraser

D A Macarthur

Mrs C M M Maclennan

K J Maclennan

SECRETARY:

A A Mackenzie

REGISTERED OFFICE:

Calanais Visitors Centre

Callanish

Isle of Lewis

HS2 9DY

REGISTERED NUMBER:

SC157572 (Scotland)

ACCOUNTANTS:

CIB Services

Chartered Accountants

63 Kenneth Street

Stornoway

Isle of Lewis

Western Isles

HS1 2DS

BANKERS:

Royal Bank of Scotland

17 North Beach Street

Stornoway

Isle of Lewis

HS1 2XH

FIXED ASSETS

660

Tangible assets

2

3,076

CURRENT ASSETS

29,709

Stocks

38,849

6,062

Debtors

8,696

65,233

Cash at bank and in hand

50,530

101,004

98,075

CREDITORS

68,805

Amounts falling due within one year

65,877

32,199

NET CURRENT ASSETS

32,198

32,859

TOTAL ASSETS LESS CURRENT LIABILITIES

35,274

CAPITAL AND RESERVES

18,100

Called up share capital

3

18,100

14,759

Profit and loss account

17,174

32,859

SHAREHOLDERS' FUNDS

35,274

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 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 17 December 2015 and were signed on its behalf by:

S A Fraser - 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 sales of goods and services, excluding value added tax. Turnover is recognised when the

risks and rewards associated with the transaction have transferred to the purchaser.

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

-

33% on cost and 20% on cost

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 arises as a result of including items of income and expenditure in taxation computations in periods

different from those in which they are included in the company's accounts. Deferred tax is provided in full on

timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates

that are expected to apply when the timing difference reverses, based on current tax rates and laws.

Deferred tax assets and liabilities are not discounted.

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.

Grants

Grants of a revenue nature are taken to the profit and loss account in the year in which the related expenditure is

undertaken. Grants received which are related to capital expenditure are capitalised in the balance sheet under

creditors and are released to the profit and loss account on the same basis as the related capital expenditure is

depreciated.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

4,707

Additions

3,495

At 31 March 2015

8,202

DEPRECIATION

At 1 April 2014

4,047

Charge for year

1,079

At 31 March 2015

5,126

NET BOOK VALUE

At 31 March 2015

3,076

At 31 March 2014

660

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.15

31.3.14

value:

£

£

18,100

Ordinary

£1

18,100

18,100

4.	ULTIMATE PARENT COMPANY

The company's ultimate parent company is Urras nan Tursachan, a charitable limited company incorporated in

Scotland.