Memorial Services (Aberdeen) Limited - Period Ending 2016-08-31

Registration number: SC257952

Memorial Services (Aberdeen) Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 August 2016
 

Lime Blue Accountancy Ltd
8 Albert Street
Aberdeen
AB25 1XQ

Memorial Services (Aberdeen) Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Memorial Services (Aberdeen) Limited
(Registration number: SC257952)
Abbreviated Balance Sheet at 31 August 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					72,057			100,409
Current assets
Stocks					1,750			1,750
Debtors					33,597			39,303
Cash at bank and in hand					25,192			2,980
					60,539			44,033
Creditors: Amounts falling due within one year					(16,428)			(26,081)
Net current assets					44,111			17,952
Total assets less current liabilities					116,168			118,361
Creditors: Amounts falling due after more than one year					(8,243)			-
Net assets					107,925			118,361
Capital and reserves
Called up share capital		3			6			6
Profit and loss account					107,919			118,355
Shareholders' funds					107,925			118,361

For the year ending 31 August 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 6 March 2017 and signed on its behalf by:

.........................................
BD Mackland
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Memorial Services (Aberdeen) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 August 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	15% reducing balance
Motor vehicles	33% reducing balance
Office equipment	40% reducing balance

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Hire purchase and leasing

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 2

Memorial Services (Aberdeen) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 August 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 September 2015		139,025			139,025
Additions		17,514			17,514
Disposals		(45,300)			(45,300)
At 31 August 2016		111,239			111,239
Depreciation
At 1 September 2015		38,616			38,616
Charge for the year		7,993			7,993
Eliminated on disposals		(7,427)			(7,427)
At 31 August 2016		39,182			39,182
Net book value
At 31 August 2016		72,057			72,057
At 31 August 2015		100,409			100,409

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary of £1 each		6			6			6			6

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