Skibo Technologies Ltd. - Abbreviated accounts 16.3

REGISTERED NUMBER: SC216869 (Scotland)

Abbreviated Unaudited Accounts for the Year Ended 31 March 2016

for

Skibo Technologies Ltd.

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

M Mair

SECRETARY:

Mrs R Mair

REGISTERED OFFICE:

5 Rubislaw Place

Aberdeen

AB10 1XN

REGISTERED NUMBER:

SC216869 (Scotland)

ACCOUNTANTS:

Walker Harris

Chartered Accountants

27 St David Street

Brechin

ANGUS

DD9 6EG

FIXED ASSETS

Tangible assets

2

16,710

31,198

CURRENT ASSETS

Stocks

-

7,200

Debtors

3

234,428

287,722

Cash at bank and in hand

54

33,212

234,482

328,134

CREDITORS

Amounts falling due within one year

177,204

145,325

NET CURRENT ASSETS

57,278

182,809

TOTAL ASSETS LESS CURRENT
LIABILITIES

73,988

214,007

PROVISIONS FOR LIABILITIES

5,450

NET ASSETS

68,538

208,557

CAPITAL AND RESERVES

Called up share capital

4

666

Share premium

37,209

Capital redemption reserve

625

Retained earnings

30,038

170,057

SHAREHOLDERS' FUNDS

68,538

208,557

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 director acknowledges his 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 director on 13 December 2016 and were signed by:

M Mair - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015) and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net invoiced sales of goods, 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.

Fixtures and fittings

-

20% on reducing balance

Computer equipment

-

25% on reducing balance

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

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 profit or loss in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

104,007

Additions

694

Disposals

(52,821

)

At 31 March 2016

51,880

DEPRECIATION

At 1 April 2015

72,809

Charge for year

4,781

Eliminated on disposal

(42,420

)

At 31 March 2016

35,170

NET BOOK VALUE

At 31 March 2016

16,710

At 31 March 2015

31,198

3.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

The aggregate total of debtors falling due after more than one year is £ 4,340 (31.3.15 - £ 3,857 )

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.16

31.3.15

value:

£

500

Ordinary 'A' Class

£1

500

166

Ordinary 'B' Class

£1

166

666