Colby Commercials Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: SC338584 (Scotland)

Abbreviated Unaudited Accounts

for the Year Ended 28 February 2016

for

Colby Commercials Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

D Taylor Jnr

D Taylor

SECRETARY:

Mrs Z Taylor

REGISTERED OFFICE:

Strathclyde Country Park

Hamilton Road

Motherwell

ML1 3RT

REGISTERED NUMBER:

SC338584 (Scotland)

ACCOUNTANTS:

Gillespie & Anderson

Chartered Accountants

147 Bath Street

Glasgow

G2 4SN

CURRENT ASSETS

Cash at bank and in hand

1,048

938

CREDITORS

Amounts falling due within one year

1,760

800

NET CURRENT (LIABILITIES)/ASSETS

(712

)

138

TOTAL ASSETS LESS CURRENT
LIABILITIES

(712

)

138

CAPITAL AND RESERVES

Called up share capital

2

10

Profit and loss account

(722

)

128

SHAREHOLDERS' FUNDS

(712

)

138

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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 29 November 2016 and were signed on its behalf by:

D Taylor Jnr - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The directors consider it appropriate to prepare the financial statements on the going concern basis through the

continued support of the company directors.

Should this support be withdrawn, the company may be unable to realise its assets and discharge its liabilities in the

normal course of business, whilst adjustments would have to be made to reduce the value of assets to their

recoverable amounts and to provide for any further liabilities which may arise.

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).

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date. Deferred tax is not recognised when assets are revalued unless, by the balance sheet date, the company

has entered into a binding agreement to sell the assets and recognise the gains and losses expected to arise on sale or

where assets have been sold and it is expected that the taxable gain will be rolled over into a replacement asset.

2.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

10

Ordinary

£1

10