I. & D. Cant Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: SC037410 (Scotland)

Abbreviated Unaudited Accounts

for the Year Ended 31 March 2016

for

I. & D. Cant Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

J S Cant

W J Cant

SECRETARY:

J S Cant

REGISTERED OFFICE:

121-123 Barrack Street

Glasgow

G4 0UE

REGISTERED NUMBER:

SC037410 (Scotland)

ACCOUNTANTS:

Gillespie & Anderson

Chartered Accountants

147 Bath Street

Glasgow

G2 4SN

FIXED ASSETS

Tangible assets

2

18,902

20,895

CURRENT ASSETS

Stocks

1,200

850

Debtors

89,714

57,162

Cash at bank

58,025

4,174

148,939

62,186

CREDITORS

Amounts falling due within one year

69,772

71,851

NET CURRENT ASSETS/(LIABILITIES)

79,167

(9,665

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

98,069

11,230

PROVISIONS FOR LIABILITIES

3,700

3,200

NET ASSETS

94,369

8,030

CAPITAL AND RESERVES

Called up share capital

3

2,000

Profit and loss account

92,369

6,030

SHAREHOLDERS' FUNDS

94,369

8,030

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 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 15 September 2016 and were signed on its behalf by:

J S Cant - 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 sales of goods and services, excluding value added tax, and recognised when the company

becomes entitled to the income.

Tangible fixed assets

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

Ground and buildings

-

2% on cost

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

10% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

30% on reducing balance

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 by the balance

sheet date. Deferred tax is not recognised when assets are revalued unless, by the balance sheet date, the company

has entered into a binding agreement to sell the assets and recognised the gains and losses expected to arise on sale

or where assets have been sold and it is expected that the taxable gain will be rolled over into a replacement asset.

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.

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.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

91,690

Additions

7,413

Disposals

(15,806

)

At 31 March 2016

83,297

DEPRECIATION

At 1 April 2015

70,795

Charge for year

5,601

Eliminated on disposal

(12,001

)

At 31 March 2016

64,395

NET BOOK VALUE

At 31 March 2016

18,902

At 31 March 2015

20,895

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

2,000

Ordinary

£1

2,000