ELLIOT_HENDERSON_&_SON_LT - Accounts
ELLIOT_HENDERSON_&_SON_LT - Accounts
Company Registration No. SC507148 (Scotland)
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2016
CONTENTS
Page
Accountants' report
1
Abbreviated balance sheet
2
Notes to the abbreviated accounts
3 - 4
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF ELLIOT HENDERSON & SON LTD FOR THE PERIOD ENDED 31 MARCH 2016
- 1 -
The following reproduces the text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited abbreviated financial statements set out on pages 2 to 4 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 Elliot Henderson & Son Ltd for the period ended 31 March 2016 set out on pages 3 to 10 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the the Institute of Chartered Accountants of Scotland, we are subject to its ethical and other professional requirements which are detailed at www.icas.org.uk/accountspreparationguidance.
As a practising member firm of the the Institute of Chartered Accountants of Scotland, we are subject to its ethical and other professional requirements which are detailed at www.icas.org.uk/accountspreparationguidance.
This report is made solely to the Board of Directors of Elliot Henderson & Son Ltd, as a body, in accordance with the terms of our engagement letter dated 19 June 2015. Our work has been undertaken solely to prepare for your approval the financial statements of Elliot Henderson & Son Ltd and state those matters that we have agreed to state to the Board of Directors of Elliot Henderson & Son Ltd, as a body, in this report in accordance with AAF 2/10 as detailed at www.icas.org.uk/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Elliot Henderson & Son Ltd and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that Elliot Henderson & Son 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 Elliot Henderson & Son Ltd. You consider that Elliot Henderson & Son Ltd is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the financial statements of Elliot Henderson & Son 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.
Hogg & Thorburn
Chartered Accountants
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
- 2 -
2016
Notes
£
Fixed assets
Tangible assets
2
Current assets
Stocks
Debtors
Cash at bank and in hand
Creditors: amounts falling due within one year
3
(501,509 )
Net current liabilities
(89,521 )
Total assets less current liabilities
Creditors: amounts falling due after more than one year
4
(1,514,131 )
Provisions for liabilities
(62,472 )
219,250
Capital and reserves
Called up share capital
5
Profit and loss account
Shareholders' funds
Directors' responsibilities:
-
-
Approved by the Board for issue on 6 October 2016
Director
Company Registration No. SC507148
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE PERIOD ENDED 31 MARCH 2016
- 3 -
1
Accounting policies
1.1
Accounting convention
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
1.4
Tangible fixed assets and depreciation
Plant and machinery
Motor vehicles
1.5
Leasing and hire purchase commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
1.6
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2016
- 4 -
2
Fixed assets
Tangible assets
£
Cost
At 1 June 2015
-
Additions
2,032,303
At 31 March 2016
2,032,303
Depreciation
At 1 June 2015
-
Charge for the period
146,929
At 31 March 2016
146,929
Net book value
At 31 March 2016
1,885,374
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £342,665.
Net obligations under finance lease and hire purchase contracts are secured by fixed charges on the assets concerned.
4
Creditors: amounts falling due after more than one year
The aggregate amount of creditors for which security has been given amounted to £761,079.
Net obligations under finance lease and hire purchase contracts are secured by fixed charges on the assets concerned.
5
Share capital
2016
£
Allotted, called up and fully paid
During the period 100 Ordinary shares of £1.00 each were allotted and fully paid at par for cash consideration to provide additional working capital.