Scaffold Orkney Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: SC427641 (Scotland)

Abbreviated Unaudited Accounts

for the Year Ended 31 March 2016

for

Scaffold Orkney Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

G D Summers

D S Summers

Mrs L J Swanney

REGISTERED OFFICE:

Gairth

Corston

Harray

Orkney

KW17 2LQ

REGISTERED NUMBER:

SC427641 (Scotland)

ACCOUNTANTS:

Orcadia

Chartered Accountants

1 - 3 East Road

Kirkwall

Orkney

KW15 1HZ

BANKERS:

Bank of Scotland

56 Albert Street

Kirkwall

Orkney

KW15 1HJ

FIXED ASSETS

196,052

Tangible assets

2

199,981

CURRENT ASSETS

44,724

Debtors

163,187

CREDITORS

169,490

Amounts falling due within one year

3

189,616

(124,766

)

NET CURRENT LIABILITIES

(26,429

)

71,286

TOTAL ASSETS LESS CURRENT
LIABILITIES

173,552

CREDITORS

(20,667

)

Amounts falling due after more than one
year

3

(32,871

)

(5,606

)

ACCRUALS AND DEFERRED INCOME

(8,057

)

45,013

NET ASSETS

132,624

CAPITAL AND RESERVES

100

Called up share capital

4

100

44,913

Profit and loss account

132,524

45,013

SHAREHOLDERS' FUNDS

132,624

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 1 July 2016 and were signed on its behalf
by:

G D Summers - 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, except in respect of service

contracts where turnover is recognised when the company obtains the right to consideration.

Tangible fixed assets

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

Land and buildings

-

not provided

Plant and machinery etc

-

25% on reducing balance

Land and Buildings are not depreciated, as properties are maintained to ensure that their value does not

diminish over time.

Government grants

Government grants received are treated as deferred credits and credited to the profit and loss account

over the estimated useful life of the relevant fixed assets. Other grants of a revenue nature are credited to

the profit and loss account in the year to which they relate.

Hire purchase and leasing commitments

Assets obtained under finance leases and hire purchase contracts are capitalised in the balance sheet and

are depreciated over their useful lives. The interest element of the rental obligations are charged to profit

and loss account over the period of the lease and represents a constant proportion of the balance of

capital repayments outstanding.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

278,555

Additions

47,674

At 31 March 2016

326,229

DEPRECIATION

At 1 April 2015

82,503

Charge for year

43,745

At 31 March 2016

126,248

NET BOOK VALUE

At 31 March 2016

199,981

At 31 March 2015

196,052

3.

CREDITORS

Creditors include an amount of £ 86,559 (2015 - £ 83,792 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

100

Ordinary

1

100