Coral Signs Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: SC274977 (Scotland)

Abbreviated Accounts

For The Year Ended 31 October 2016

for

Coral Signs Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

A M Craig

C Craig

SECRETARY:

A M Craig

REGISTERED OFFICE:

11 Birkmyre Road

Glasgow

G51 3JH

REGISTERED NUMBER:

SC274977 (Scotland)

ACCOUNTANTS:

Cahill Jack Associates Limited

91 Alexander Street

Airdrie

North Lanarkshire

ML6 0BD

FIXED ASSETS

Tangible assets

2

34,319

34,401

CURRENT ASSETS

Stocks

5,050

5,008

Debtors

88,175

80,696

Investments

10,000

10,000

Cash at bank

6,063

30,205

109,288

125,909

CREDITORS

Amounts falling due within one year

70,871

82,309

NET CURRENT ASSETS

38,417

43,600

TOTAL ASSETS LESS CURRENT LIABILITIES

72,736

78,001

CREDITORS

Amounts falling due after more than one year

(6,945

)

(13,760

)

PROVISIONS FOR LIABILITIES

(6,495

)

(6,431

)

NET ASSETS

59,296

57,810

CAPITAL AND RESERVES

Called up share capital

3

100

100

Profit and loss account

59,196

57,710

SHAREHOLDERS' FUNDS

59,296

57,810

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 27 April 2017 and were signed on its behalf by:

A M Craig - 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 sales of goods and services provided, net of value added tax, on a direct and contracted basis.

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 etc

-

25% on cost and 25% on reducing balance

Stocks

Stocks 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. Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than

not that there will be suitable taxable profits from which the underlying timing differences can be deducted. Deferred

tax is measured at the rates that are expected to apply in the periods in which the timing differences reverse and is

not discounted.

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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2015

96,511

Additions

11,144

At 31 October 2016

107,655

DEPRECIATION

At 1 November 2015

62,110

Charge for year

11,226

At 31 October 2016

73,336

NET BOOK VALUE

At 31 October 2016

34,319

At 31 October 2015

34,401

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.16

31.10.15

value:

£

£

100

Ordinary

£1

100

100