W. Christie (Industrial) Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: SC035247 (Scotland)

Abbreviated Unaudited Accounts

for the Year Ended 30 September 2015

for

W. Christie (Industrial) Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Miss A E Black

T J Porter

Mrs J Taylor

SECRETARY:

Miss A E Black

REGISTERED OFFICE:

Unit F7

Festival Business Centre

150 Brand Street

Glasgow

G51 1DH

REGISTERED NUMBER:

SC035247 (Scotland)

ACCOUNTANTS:

Gillespie & Anderson

Chartered Accountants

147 Bath Street

Glasgow

G2 4SN

FIXED ASSETS

Tangible assets

2

230,236

160,853

CURRENT ASSETS

Stocks

27,124

26,239

Debtors

1,720,870

1,317,843

Cash at bank and in hand

-

12,965

1,747,994

1,357,047

CREDITORS

Amounts falling due within one year

3

629,527

557,123

NET CURRENT ASSETS

1,118,467

799,924

TOTAL ASSETS LESS CURRENT LIABILITIES

1,348,703

960,777

CREDITORS

Amounts falling due after more than one year

3

(71,042

)

(35,998

)

PROVISIONS FOR LIABILITIES

(32,158

)

(12,794

)

NET ASSETS

1,245,503

911,985

CAPITAL AND RESERVES

Called up share capital

4

27,750

33,900

Share premium

60,000

60,000

Capital redemption reserve

6,150

-

Profit and loss account

1,151,603

818,085

SHAREHOLDERS' FUNDS

1,245,503

911,985

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 20 April 2016 and were signed on its behalf by:

Miss A E Black - 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 January 2015).

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.

Plant and machinery etc

-

33.3% on cost, 25% on reducing balance and 20% 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.

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.

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 October 2014

458,537

Additions

169,054

Disposals

(58,717

)

At 30 September 2015

568,874

DEPRECIATION

At 1 October 2014

297,684

Charge for year

77,602

Eliminated on disposal

(36,648

)

At 30 September 2015

338,638

NET BOOK VALUE

At 30 September 2015

230,236

At 30 September 2014

160,853

3.

CREDITORS

Creditors include an amount of £ 148,847 (2014 - £ 83,983 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

27,750

Ordinary

£1

27,750

33,900

(2014 - 33,900 )