Redloan Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: SC370742 (Scotland)

Abbreviated Accounts

For The Year Ended 31 January 2016

for

Redloan Limited

T/A

The Mobility Centre

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

S T Laughlin

REGISTERED OFFICE:

10 Howard Court

East Kilbride

Glasgow

G74 4QZ

REGISTERED NUMBER:

SC370742 (Scotland)

ACCOUNTANTS:

Cahill Jack Associates Limited

91 Alexander Street

Airdrie

North Lanarkshire

ML6 0BD

FIXED ASSETS

Tangible assets

2

24,931

10,009

CURRENT ASSETS

Stocks

15,885

11,019

Debtors

19,966

10,591

Cash at bank

225,259

114,810

261,110

136,420

CREDITORS

Amounts falling due within one year

166,203

121,893

NET CURRENT ASSETS

94,907

14,527

TOTAL ASSETS LESS CURRENT
LIABILITIES

119,838

24,536

CAPITAL AND RESERVES

Called up share capital

3

1

Profit and loss account

119,837

24,535

SHAREHOLDERS' FUNDS

119,838

24,536

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 31 October 2016 and were signed by:

S T Laughlin - 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 the sale of mobility aids and products, excluding VAT.

Tangible fixed assets

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

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% 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 February 2015

15,387

Additions

17,424

At 31 January 2016

32,811

DEPRECIATION

At 1 February 2015

5,378

Charge for year

2,502

At 31 January 2016

7,880

NET BOOK VALUE

At 31 January 2016

24,931

At 31 January 2015

10,009

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

1

Ordinary

£1

1