Ayrshire Motorpart Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: SC082511 (Scotland)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

FOR

AYRSHIRE MOTORPART LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

C McKechnie

J McKechnie

SECRETARY:

C McKechnie

REGISTERED OFFICE:

121A Henrietta Street

Girvan

Ayrshire

KA26 0AE

REGISTERED NUMBER:

SC082511 (Scotland)

ACCOUNTANTS:

Galbraith Pritchards

Chartered Accountants

16 Hamilton Street

Girvan

Ayrshire

KA26 9EY

FIXED ASSETS

Tangible assets

2

22,776

24,692

CURRENT ASSETS

Stocks

34,859

34,950

Debtors

8,024

6,567

Cash at bank and in hand

369

8,109

43,252

49,626

CREDITORS

Amounts falling due within one year

10,739

10,897

NET CURRENT ASSETS

32,513

38,729

TOTAL ASSETS LESS CURRENT
LIABILITIES

55,289

63,421

CREDITORS

Amounts falling due after more than one
year

28,521

NET ASSETS

26,768

34,900

CAPITAL AND RESERVES

Called up share capital

3

16,000

Profit and loss account

10,768

18,900

SHAREHOLDERS' FUNDS

26,768

34,900

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 27 September 2016 and were signed on its behalf
by:

C McKechnie - 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.

Land and buildings

-

not provided

Plant and machinery etc

-

33.33% on cost, 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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

and 31 December 2015

42,032

DEPRECIATION

At 1 January 2015

17,340

Charge for year

1,916

At 31 December 2015

19,256

NET BOOK VALUE

At 31 December 2015

22,776

At 31 December 2014

24,692

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/12/15

31/12/14

value:

£

16,000

Ordinary Shares

£1

16,000