Rhinowash Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: SC272881 (Scotland)

Abbreviated Accounts

for the Year Ended 30 September 2015

for

Rhinowash Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

M Burns

J P Burns

SECRETARY:

M Burns

REGISTERED OFFICE:

149A Glasgow Road

Via Alexander Street

Wishaw

North Lanakshire

ML2 7QJ

REGISTERED NUMBER:

SC272881 (Scotland)

ACCOUNTANTS:

O'Haras Chartered Accountants

Radleigh House

1 Golf Road

Clarkston

Glasgow

G76 7HU

FIXED ASSETS

Intangible assets

2

-

Tangible assets

3

140,455

89,008

140,455

89,008

CURRENT ASSETS

Stocks

93,791

78,121

Debtors

86,057

147,636

Cash at bank and in hand

29,795

27,932

209,643

253,689

CREDITORS

Amounts falling due within one year

180,417

202,916

NET CURRENT ASSETS

29,226

50,773

TOTAL ASSETS LESS CURRENT
LIABILITIES

169,681

139,781

CREDITORS

Amounts falling due after more than one
year

(36,776

)

(4,822

)

PROVISIONS FOR LIABILITIES

(27,510

)

(17,801

)

NET ASSETS

105,395

117,158

CAPITAL AND RESERVES

Called up share capital

4

100

Profit and loss account

105,295

117,058

SHAREHOLDERS' FUNDS

105,395

117,158

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 18 January 2016 and were signed on its behalf by:

M Burns - Director

J P Burns - 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 the amounts derived from the provision of goods and services, excluding value added tax

and trade discounts.

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 one years.

Tangible fixed assets

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

Improvements to property

-

20% on cost

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

IT and website

-

at varying rates 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 differences reverse, based on current tax rates and laws.

Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no

commitment to sell the asset.

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.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2014

and 30 September 2015

500

AMORTISATION

At 1 October 2014

and 30 September 2015

500

NET BOOK VALUE

At 30 September 2015

-

At 30 September 2014

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2014

218,416

Additions

101,168

Disposals

(70,117

)

At 30 September 2015

249,467

DEPRECIATION

At 1 October 2014

129,408

Charge for year

26,425

Eliminated on disposal

(46,821

)

At 30 September 2015

109,012

NET BOOK VALUE

At 30 September 2015

140,455

At 30 September 2014

89,008

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

100

Ordinary

£1

100