BISHOPBRIGGS PET & AQUATIC CENTRE LIMITED - Period Ending 2016-02-29

Registration number: SC300812

BISHOPBRIGGS PET & AQUATIC CENTRE LIMITED

Unaudited Abbreviated Accounts

for the Year Ended 29 February 2016
 

A M Scott & Co., Chartered Accountants
151 KIRKINTILLOCH ROAD,
BISHOPBRIGGS,
GLASGOW
G64 2LS

BISHOPBRIGGS PET & AQUATIC CENTRE LIMITED
(Registration number: SC300812)
Abbreviated Balance Sheet at 29 February 2016

		Note			2016 £			2015 £
Fixed assets
Intangible fixed assets					7,500			8,250
Tangible fixed assets					4,251			5,667
					11,751			13,917
Current assets
Stocks					26,900			25,800
Debtors					1,209			655
Cash at bank and in hand					1,255			680
					29,364			27,135
Creditors: Amounts falling due within one year					(55,693)			(59,319)
Net current liabilities					(26,329)			(32,184)
Total assets less current liabilities					(14,578)			(18,267)
Provisions for liabilities					(485)			(726)
Net liabilities					(15,063)			(18,993)
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					(15,163)			(19,093)
Shareholders' deficit					(15,063)			(18,993)

The notes on pages 3 to 4 form an integral part of these financial statements.
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BISHOPBRIGGS PET & AQUATIC CENTRE LIMITED
(Registration number: SC300812)
Abbreviated Balance Sheet at 29 February 2016
......... continued

For the year ending 29 February 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 28 November 2016

.........................................
Sharon Spinelli
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
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BISHOPBRIGGS PET & AQUATIC CENTRE LIMITED
Notes to the Abbreviated Accounts for the Year Ended 29 February 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Going concern

The financial statements have been prepared on a going concern basis despite the balance sheet disclosing a net deficit position. This basis is dependent on the continuing support of the company's creditors including the company director.The director is of the opinion that the company is entitled to prepare these accounts on a going concern basis as no material uncertainties that cast significant doubt over the company's ability to continue as a going concern have been identified.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Goodwill	straight line over 20 years

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures & fittings	25% p.a. reducing balance basis

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

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BISHOPBRIGGS PET & AQUATIC CENTRE LIMITED
Notes to the Abbreviated Accounts for the Year Ended 29 February 2016
......... continued

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 March 2015		15,000			26,737			41,737
At 29 February 2016		15,000			26,737			41,737
Depreciation
At 1 March 2015		6,750			21,070			27,820
Charge for the year		750			1,416			2,166
At 29 February 2016		7,500			22,486			29,986
Net book value
At 29 February 2016		7,500			4,251			11,751
At 28 February 2015		8,250			5,667			13,917

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

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