Caley Timber & Building Supplies Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: SC242415 (Scotland)

Abbreviated Unaudited Accounts for the Year Ended 31 December 2015

for

Caley Timber & Building Supplies Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mr Donald Morrison

Mr Alistair Sim

SECRETARY:

Mrs Jennifer Morrison

REGISTERED OFFICE:

Unit 15

Dalcross Industrial Estate

Inverness

IV2 7JB

REGISTERED NUMBER:

SC242415 (Scotland)

ACCOUNTANTS:

Stevenson & Kyles

Chartered Accountants

25 Sandyford Place

Glasgow

G3 7NG

FIXED ASSETS

Tangible assets

2

1,032,461

878,917

CURRENT ASSETS

Stock

321,827

277,956

Debtors

1,003,676

1,056,539

Cash at bank and in hand

803,516

1,019,708

2,129,019

2,354,203

CREDITORS

Amounts falling due within one year

3

782,899

1,061,698

NET CURRENT ASSETS

1,346,120

1,292,505

TOTAL ASSETS LESS CURRENT LIABILITIES

2,378,581

2,171,422

CREDITORS

Amounts falling due after more than one year

3

(165,090

)

(204,071

)

PROVISIONS FOR LIABILITIES

(93,085

)

(61,074

)

NET ASSETS

2,120,406

1,906,277

CAPITAL AND RESERVES

Called up share capital

4

57,750

75,500

Capital redemption reserve

92,250

74,500

Profit and loss account

1,970,406

1,756,277

SHAREHOLDERS' FUNDS

2,120,406

1,906,277

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 4 April 2016 and were signed on its behalf by:

Mr Donald Morrison - 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.

Heritable property

-

2% on cost

Long leasehold

-

10% on cost

Plant and machinery

-

15% on reducing balance

Fittings and equipment

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Stock 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 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.

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

over the period of the lease.

Pension costs and other post-retirement benefits

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

1,346,646

Additions

326,788

Disposals

(74,598

)

At 31 December 2015

1,598,836

DEPRECIATION

At 1 January 2015

467,729

Charge for year

144,781

Eliminated on disposal

(46,135

)

At 31 December 2015

566,375

NET BOOK VALUE

At 31 December 2015

1,032,461

At 31 December 2014

878,917

3.

CREDITORS

Creditors include an amount of £ 192,999 (2014 - £ 230,313 ) for which security has been given.

They also include the following debts falling due in more than five years:

2015

2014

£

£

Repayable by instalments

100,122

117,436

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

57,750

Ordinary

£1

57,750

75,500

(2014 - 75,500 )

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

6.

CONTROL

The company is under the control of the directors who between them own 94.81% of the issued share

capital.