Express Fuels (Scotland) Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: SC145520 (Scotland)

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2015

FOR

Express Fuels (Scotland) Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

D G Jamieson

D A Jamieson

Ms L A Jamieson

SECRETARY:

D G Jamieson

REGISTERED OFFICE:

789 South Street

Glasgow

Lanarkshire

G14 0BX

REGISTERED NUMBER:

SC145520 (Scotland)

ACCOUNTANTS:

Burgoyne Carey

Chartered Accountants

Pavilion 2

3 Dava Street

Broomloan Road

Glasgow

G51 2JA

FIXED ASSETS

Intangible assets

2

-

-

Tangible assets

3

56,419

51,561

56,419

51,561

CURRENT ASSETS

Stocks

37,322

37,816

Debtors

117,219

116,023

Cash at bank and in hand

78,845

52,340

233,386

206,179

CREDITORS

Amounts falling due within one year

(96,000

)

(87,393

)

NET CURRENT ASSETS

137,386

118,786

TOTAL ASSETS LESS CURRENT LIABILITIES

193,805

170,347

PROVISIONS FOR LIABILITIES

(5,173

)

(8,602

)

NET ASSETS

188,632

161,745

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

188,532

161,645

SHAREHOLDERS' FUNDS

188,632

161,745

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 30 October 2015 and were signed on its behalf by:

Ms L A Jamieson - 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 amounts invoiced during the year net, exclusive of 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

-

25% on reducing balance

Fixtures and fittings

-

10% on reducing balance

Motor vehicles

-

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.

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.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

PENSIONS

The company contributes to the Director's personal pension scheme.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

and 31 March 2015

5,000

AMORTISATION

At 1 April 2014

and 31 March 2015

5,000

NET BOOK VALUE

At 31 March 2015

-

At 31 March 2014

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

188,264

Additions

18,389

At 31 March 2015

206,653

DEPRECIATION

At 1 April 2014

136,703

Charge for year

13,531

At 31 March 2015

150,234

NET BOOK VALUE

At 31 March 2015

56,419

At 31 March 2014

51,561

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

100

Ordinary

£1

100

100