Newfield (Dundonald) Ltd - Abbreviated accounts 16.1

REGISTERED NUMBER: SC142332 (Scotland)

Abbreviated Unaudited Accounts for the Year Ended 30 June 2016

for

Newfield (Dundonald) Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Dr M Illingworth

Dr S R McAdam

Dr L McDougall

Dr J D Watts

Dr M Wood

C Webster

SECRETARY:

Dr M Illingworth

REGISTERED OFFICE:

McLellan Harris & co

19 Waterloo Street

Glasgow

G2 6AY

REGISTERED NUMBER:

SC142332 (Scotland)

ACCOUNTANTS:

McLellan Harris & Co.

Waterloo Chambers

19 Waterloo Street

Glasgow

G2 6AY

FIXED ASSETS

Intangible assets

2

768,889

-

Tangible assets

3

423,384

361,070

1,192,273

361,070

CURRENT ASSETS

Stocks

162,432

146,710

Debtors

522,251

376,623

Cash at bank and in hand

658,143

787,903

1,342,826

1,311,236

CREDITORS

Amounts falling due within one year

(703,965

)

(519,259

)

NET CURRENT ASSETS

638,861

791,977

TOTAL ASSETS LESS CURRENT LIABILITIES

1,831,134

1,153,047

CREDITORS

Amounts falling due after more than one year

4

(549,771

)

-

NET ASSETS

1,281,363

1,153,047

CAPITAL AND RESERVES

Called up share capital

5

100

100

Profit and loss account

1,281,263

1,152,947

SHAREHOLDERS' FUNDS

1,281,363

1,153,047

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 9 January 2017 and were signed on its behalf by:

Dr M Illingworth - Director

C Webster - 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of fifteen years.

Goodwill, being the amount paid in connection with the acquisition of businesses in 2001 and 2005 was being

amortised evenly over ten years.These amounts have now been completely written off.

Tangible fixed assets

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

Freehold property

-

2% on cost

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Where depreciable amount is cost less estimated residual value.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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 tax in the future or a right to pay

less tax in the future have occurred 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.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2015

1,289,338

Additions

800,000

At 30 June 2016

2,089,338

AMORTISATION

At 1 July 2015

1,289,338

Amortisation for year

31,111

At 30 June 2016

1,320,449

NET BOOK VALUE

At 30 June 2016

768,889

At 30 June 2015

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2015

559,582

Additions

71,052

Disposals

(7,575

)

At 30 June 2016

623,059

DEPRECIATION

At 1 July 2015

198,512

Charge for year

8,170

Eliminated on disposal

(7,007

)

At 30 June 2016

199,675

NET BOOK VALUE

At 30 June 2016

423,384

At 30 June 2015

361,070

4.

CREDITORS

Creditors include the following debts falling due in more than five years:

30.6.16

30.6.15

£

£

Repayable by instalments

416,980

-

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.16

30.6.15

value:

£

£

100

Ordinary

£1

100

100