Glenald Engineering & Technical Services - Abbreviated accounts 16.3

REGISTERED NUMBER: SC381995 (Scotland)

Abbreviated Unaudited Accounts

for the Year Ended 31 July 2016

for

Glenald Engineering & Technical Services

Ltd.

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

J Florence

Miss E MacFarlane

REGISTERED OFFICE:

21 Kepplestone Avenue

Aberdeen

Grampian

AB15 7XF

REGISTERED NUMBER:

SC381995 (Scotland)

ACCOUNTANTS:

Grampian Accounting

3 Prospect Place

Arnhall Business Park

Westhill

Aberdeenshire

AB32 6SY

FIXED ASSETS

Tangible assets

2

814

387

CURRENT ASSETS

Stocks

-

2,742

Debtors

2,115

-

Cash at bank

303,639

348,957

305,754

351,699

CREDITORS

Amounts falling due within one year

5,638

31,788

NET CURRENT ASSETS

300,116

319,911

TOTAL ASSETS LESS CURRENT LIABILITIES

300,930

320,298

CAPITAL AND RESERVES

Called up share capital

3

7

7

Profit and loss account

300,923

320,291

SHAREHOLDERS' FUNDS

300,930

320,298

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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:

J Florence - 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 services, excluding value added tax.

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 etc

-

20% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax

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

sheet date.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 August 2015

2,396

Additions

1,133

At 31 July 2016

3,529

DEPRECIATION

At 1 August 2015

2,009

Charge for year

706

At 31 July 2016

2,715

NET BOOK VALUE

At 31 July 2016

814

At 31 July 2015

387

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.16

31.7.15

value:

£

£

7

Ordinary

£1

7

7