Coull Car Sales Ltd - Abbreviated accounts 16.1

REGISTERED NUMBER: SC101835 (Scotland)

Abbreviated Accounts for the Year Ended 31 March 2016

for

COULL CAR SALES LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

Report of the Accountants

5

DIRECTORS:

SD Coull

LH Coull

REGISTERED OFFICE:

Monzie

Hillside

Portlethen

Aberdeenshire

AB12 4RD

REGISTERED NUMBER:

SC101835 (Scotland)

ACCOUNTANTS:

Account Tax Ltd

Chartered Certified Accountants

Traill Drive

Montrose

Angus

DD10 8SW

FIXED ASSETS

Tangible assets

2

918,129

897,790

CURRENT ASSETS

Stocks

37,648

20,948

Debtors

366

1,681

Investments

100,000

Cash at bank

258,017

253,792

396,031

376,421

CREDITORS

Amounts falling due within one year

209,569

174,235

NET CURRENT ASSETS

186,462

202,186

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,104,591

1,099,976

CAPITAL AND RESERVES

Called up share capital

3

1,000

Profit and loss account

1,103,591

1,098,976

SHAREHOLDERS' FUNDS

1,104,591

1,099,976

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 14 October 2016 and were signed on
its behalf by:

SD Coull - 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being

amortised evenly over its estimated useful life of ten years.

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

-

25% on cost and 25% on reducing balance

Fixtures and fittings

-

25% on cost and 25% on reducing balance

Stock

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 due to timing differences is immaterial and therefore not recognised.

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 April 2015

927,014

Additions

20,967

At 31 March 2016

947,981

DEPRECIATION

At 1 April 2015

29,224

Charge for year

628

At 31 March 2016

29,852

NET BOOK VALUE

At 31 March 2016

918,129

At 31 March 2015

897,790

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

1,000

Ordinary

£1

1,000

The following reproduces the text of the report prepared for the directors in respect of the

company's annual unaudited financial statements, from which the unaudited abbreviated

accounts (set out on pages two to four) have been prepared.

As described on the balance sheet you are responsible for the preparation of the financial statements for the year ended 31 March 2016 set out on pages nil to nil and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Account Tax Ltd

Chartered Certified Accountants

Traill Drive

Montrose

Angus

DD10 8SW

14 October 2016