Findouran Garage Limited - Limited company - abbreviated

REGISTERED NUMBER: SC290992 (Scotland)

Abbreviated Unaudited Accounts for the Year Ended 30 November 2015

for

Findouran Garage Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

C W Skene

SECRETARY:

W J Skene

REGISTERED OFFICE:

15/17 High Street

Kingussie

Inverness-shire

PH21 1HS

REGISTERED NUMBER:

SC290992 (Scotland)

ACCOUNTANTS:

Peter Munro & Company

Chartered Certified Accountants

15-17 High Street

Kingussie

Inverness-shire

PH21 1HS

FIXED ASSETS

Intangible assets

2

-

Tangible assets

3

15,047

9,674

15,047

9,674

CURRENT ASSETS

Stocks

28,742

25,290

Debtors

22,748

46,293

Cash at bank and in hand

10,582

13,480

62,072

85,063

CREDITORS

Amounts falling due within one year

68,084

72,728

NET CURRENT (LIABILITIES)/ASSETS

(6,012

)

12,335

TOTAL ASSETS LESS CURRENT
LIABILITIES

9,035

22,009

PROVISIONS FOR LIABILITIES

1,035

1,366

NET ASSETS

8,000

20,643

CAPITAL AND RESERVES

Called up share capital

4

1

Profit and loss account

7,999

20,642

SHAREHOLDERS' FUNDS

8,000

20,643

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 9 March 2016 and were signed by:

C W Skene - 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant & equipment

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 December 2014

and 30 November 2015

25,000

AMORTISATION

At 1 December 2014

and 30 November 2015

25,000

NET BOOK VALUE

At 30 November 2015

-

At 30 November 2014

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 December 2014

22,500

Additions

11,649

Disposals

(2,988

)

At 30 November 2015

31,161

DEPRECIATION

At 1 December 2014

12,826

Charge for year

3,838

Eliminated on disposal

(550

)

At 30 November 2015

16,114

NET BOOK VALUE

At 30 November 2015

15,047

At 30 November 2014

9,674

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.11.15

30.11.14

value:

£

1

Ordinary

1.00

1

Findouran Garage Limited - Limited company - abbreviated - 11.9

Findouran Garage Limited - Limited company - abbreviated - 11.9