Argyll Assets Ltd. - Abbreviated accounts 16.3

REGISTERED NUMBER: SC347769 (Scotland)

Abbreviated Accounts for the Year Ended 31 August 2016

for

Argyll Assets Ltd.

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

D Gilbert

Mrs S M Whyte

SECRETARY:

REGISTERED OFFICE:

19 Bon Accord Crescent

Aberdeen

Aberdeenshire

AB11 6DE

REGISTERED NUMBER:

SC347769 (Scotland)

ACCOUNTANTS:

A J Croll & Company

19 Bon Accord Crescent

Aberdeen

Aberdeenshire

AB11 6DE

FIXED ASSETS

Tangible assets

2

296,419

318,759

CURRENT ASSETS

Debtors

1,920

Cash at bank

1,746

1,491

3,666

3,411

CREDITORS

Amounts falling due within one year

3

225,364

228,859

NET CURRENT LIABILITIES

(221,698

)

(225,448

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

74,721

93,311

CREDITORS

Amounts falling due after more than one
year

3

(98,171

)

(115,630

)

PROVISIONS FOR LIABILITIES

-

(196

)

NET LIABILITIES

(23,450

)

(22,515

)

CAPITAL AND RESERVES

Called up share capital

4

1,000

Profit and loss account

(24,450

)

(23,515

)

SHAREHOLDERS' FUNDS

(23,450

)

(22,515

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 21 May 2017 and were signed on its behalf by:

D Gilbert - Director

Mrs S M Whyte - 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 services, 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.

Freehold property

-

5% on cost

Fixtures and fittings

-

25% on cost

Computer equipment

-

25% on cost

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2015

and 31 August 2016

436,825

DEPRECIATION

At 1 September 2015

118,066

Charge for year

22,340

At 31 August 2016

140,406

NET BOOK VALUE

At 31 August 2016

296,419

At 31 August 2015

318,759

3.

CREDITORS

Creditors include an amount of £ 112,439 for which security has been given.

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

31.8.16

31.8.15

£

Repayable by instalments

26,831

44,290

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.16

31.8.15

value:

£

1,000

Ordinary

£1

1,000