Lamont Contractors Ltd. - Abbreviated accounts 16.3

REGISTERED NUMBER: SC386192 (Scotland)

Abbreviated Unaudited Accounts for the Year Ended 31 March 2016

for

Lamont Contractors Ltd.

Page

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

3

FIXED ASSETS

Tangible assets

2

34,018

42,599

CURRENT ASSETS

Debtors

20,071

20,004

Cash at bank

102,983

117,156

123,054

137,160

CREDITORS

Amounts falling due within one year

(14,563

)

(29,996

)

NET CURRENT ASSETS

108,491

107,164

TOTAL ASSETS LESS CURRENT
LIABILITIES

142,509

149,763

PROVISIONS FOR LIABILITIES

(6,803

)

(8,520

)

NET ASSETS

135,706

141,243

CAPITAL AND RESERVES

Called up share capital

3

4

Profit and loss account

135,702

141,239

SHAREHOLDERS' FUNDS

135,706

141,243

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 6 December 2016 and were signed on its behalf by:

Bryce Lamont - Director

Katie Louise Lamont - Director

William Bryce Lamont - 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).

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a small

company.

Turnover

Turnover represents net invoiced sales of goods and services in respect of providing machinery, vehicles and operators as

required to local businesses, excluding value added tax. Sales are recognised at the point at which the goods are delivered

or the service is complete.

Tangible fixed assets and depreciation

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

Plant and machinery

-

20% on reducing balance

Tractors

-

25% on reducing balance

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of

acquisition.

Deferred tax

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

where transactions or events that result in an obligation to pay more or a right to pay less tax in the future have occurred by

the balance sheet date with certain limited exceptions.

Deferred tax is calculated on an undiscounted basis at the tax rates that are expected to apply in the periods in which the

timing differences are expected to reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet

date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

and 31 March 2016

64,773

DEPRECIATION

At 1 April 2015

22,174

Charge for year

8,581

At 31 March 2016

30,755

NET BOOK VALUE

At 31 March 2016

34,018

At 31 March 2015

42,599

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.16

31.3.15

value:

£

4

Ordinary Shares

£1

4