Scotia Chiropractic Ltd - Abbreviated accounts 16.1

REGISTERED NUMBER: SC138934 (Scotland)

Abbreviated Unaudited Accounts

for the Year Ended 30 September 2015

for

Scotia Chiropractic Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Accountants' Report

6

DIRECTOR:

Dr C I How

SECRETARY:

A A Bailey

REGISTERED OFFICE:

16 Jenny Moores Road

St Boswells

Roxburghshire

TD6 0AL

REGISTERED NUMBER:

SC138934 (Scotland)

ACCOUNTANTS:

Stark Main & Co Ltd

Chartered Tax Advisers & Accountants

Old Tweed Mill

Dunsdale Road

Selkirk

Borders

TD7 5DZ

FIXED ASSETS

Tangible assets

2

234,829

243,111

CURRENT ASSETS

Stocks

4,983

5,283

Debtors

8,119

6,764

Cash at bank and in hand

5,423

6,193

18,525

18,240

CREDITORS

Amounts falling due within one year

3

113,195

111,543

NET CURRENT LIABILITIES

(94,670

)

(93,303

)

TOTAL ASSETS LESS CURRENT LIABILITIES

140,159

149,808

CREDITORS

Amounts falling due after more than one year

3

(54,331

)

(72,598

)

PROVISIONS FOR LIABILITIES

(3,697

)

(4,051

)

NET ASSETS

82,131

73,159

CAPITAL AND RESERVES

Called up share capital

4

100

100

Revaluation reserve

120,000

123,000

Profit and loss account

(37,969

)

(49,941

)

SHAREHOLDERS' FUNDS

82,131

73,159

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 director acknowledges her 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 29 June 2016 and were signed by:

Dr C I How - 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.

Freehold property

-

2 % straight line basis

Long leasehold

-

25% on reducing balance

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

25% on reducing balance and 15% 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 is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

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 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.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2014

400,883

Additions

959

At 30 September 2015

401,842

DEPRECIATION

At 1 October 2014

157,772

Charge for year

9,241

At 30 September 2015

167,013

NET BOOK VALUE

At 30 September 2015

234,829

At 30 September 2014

243,111

3.

CREDITORS

Creditors include an amount of £ 76,509 (30.9.14 - £ 97,047 ) for which security has been given.

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

30.9.15

30.9.14

£

£

Repayable otherwise than by instalments

3,357

13,222

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.15

30.9.14

value:

£

£

100

Ordinary shares

£1

100

100

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to five)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Scotia Chiropractic Ltd for the year ended 30 September 2015 which comprise the Profit and

Loss Account, the Balance Sheet, and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants of Scotland, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.org.uk/accountspreparationguidance.

This report is made solely to the director of Scotia Chiropractic Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Scotia Chiropractic Ltd and state those matters that we have agreed to state to the director of Scotia Chiropractic Ltd in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at http://www.icas.org.uk/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Scotia Chiropractic Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Scotia Chiropractic Ltd. You consider that Scotia Chiropractic Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Scotia Chiropractic Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Stark Main & Co Ltd

Chartered Tax Advisers & Accountants

Old Tweed Mill

Dunsdale Road

Selkirk

Borders

TD7 5DZ

29 June 2016