G & W Refrigeration Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: SC081637 (Scotland)

Abbreviated Unaudited Accounts for the Year Ended 30 November 2015

for

G & W Refrigeration Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

Brian Thomas Carberry

SECRETARY:

Theresa Carberry

REGISTERED OFFICE:

Block 3, Unit 5

Oakbank Industrial Estate

Glasgow

G20 7LU

REGISTERED NUMBER:

SC081637 (Scotland)

ACCOUNTANTS:

Stevenson & Kyles

Chartered Accountants

25 Sandyford Place

Glasgow

G3 7NG

FIXED ASSETS

Tangible assets

2

2,031

3,645

CURRENT ASSETS

Stock and work in progress

61,600

58,717

Debtors

158,903

121,768

Cash at bank

-

7,238

220,503

187,723

CREDITORS

Amounts falling due within one year

223,461

177,750

NET CURRENT (LIABILITIES)/ASSETS

(2,958

)

9,973

TOTAL ASSETS LESS CURRENT
LIABILITIES

(927

)

13,618

PROVISIONS FOR LIABILITIES

379

695

NET (LIABILITIES)/ASSETS

(1,306

)

12,923

CAPITAL AND RESERVES

Called up share capital

3

2,000

Profit and loss account

(3,306

)

10,923

SHAREHOLDERS' FUNDS

(1,306

)

12,923

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2015 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 21 February 2017 and were signed by:

Brian Thomas Carberry - 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

20% on reducing balance

Fittings and equipment

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

20% on cost

Stock and work in progress

Stock and work in progress and work in progress are valued at the lower of cost and net realisable

value, after making due allowance for obsolete and slow moving items.

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

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

Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held

under finance leases are depreciated over their estimated useful lives or the lease term, whichever is

the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant

period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account 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 the profit and loss account in the period to which they

relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 December 2014

28,667

Disposals

(6,620

)

At 30 November 2015

22,047

DEPRECIATION

At 1 December 2014

25,022

Charge for year

731

Eliminated on disposal

(5,737

)

At 30 November 2015

20,016

NET BOOK VALUE

At 30 November 2015

2,031

At 30 November 2014

3,645

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

2,000

Ordinary

£1

2,000