The Styles Bank Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: SC312722 (Scotland)

THE STYLES BANK LIMITED

ABBREVIATED ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2015

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

B G O'Neill

H O'Neill

SECRETARY:

B G O'Neill

REGISTERED OFFICE:

40c Drakemyre

Dalry

Ayrshire

KA24 5JE

REGISTERED NUMBER:

SC312722 (Scotland)

ACCOUNTANTS:

JRD Partnership Ltd

23 Main Street

Dalry

KA24 5DP

BANKERS:

Royal Bank of Scotland

98-102 Main Street

Kilwining

KA13 6EF

FIXED ASSETS

Intangible assets

2

15,000

Tangible assets

3

-

15,000

CURRENT ASSETS

Debtors

18,559

11,484

Cash at bank

1,913

2,500

20,472

13,984

CREDITORS

Amounts falling due within one year

10,391

6,392

NET CURRENT ASSETS

10,081

7,592

TOTAL ASSETS LESS CURRENT
LIABILITIES

25,081

22,592

CAPITAL AND RESERVES

Called up share capital

4

100

Profit and loss account

24,981

22,492

SHAREHOLDERS' FUNDS

25,081

22,592

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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 28th September 2016 and were signed on its
behalf by:

B G O'Neill - 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 services, excluding value added tax.

Goodwill

Goodwill is valued annually by the director with reference to the sale price achievable at the balance sheet date.

Any permanent diminution in value is written off to the profit & loss account in the year it occurs.

Tangible fixed assets

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

Plant and machinery etc

-

25% on cost

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1st January 2015

and 31st December 2015

15,000

NET BOOK VALUE

At 31st December 2015

15,000

At 31st December 2014

15,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st January 2015

and 31st December 2015

100

DEPRECIATION

At 1st January 2015

and 31st December 2015

100

NET BOOK VALUE

At 31st December 2015

-

At 31st December 2014

-

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

100

Ordinary

£1

100

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31st December 2015 and

31st December 2014:

2015

2014

£

B G O'Neill and H O'Neill

Balance outstanding at start of year

11,484

11,676

Amounts advanced

18,559

11,484

Amounts repaid

(11,484

)

(11,676

)

Balance outstanding at end of year

18,559

11,484

The opening loan to the directors was repaid on 28 September 2015.

The closing loan has been repaid since the balance sheet date.