Borders Safety Supplies Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: SC343593 (Scotland)

Abbreviated Unaudited Accounts for the Year Ended 31 August 2016

for

Borders Safety Supplies Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

D A Barrowclough

Mrs J A Barrowclough

SECRETARY:

Mrs J A Barrowclough

REGISTERED OFFICE:

Unit 1

Dunsdale Workshops

Dunsdale Road

Selkirk

Selkirkshire

TD7 5EA

REGISTERED NUMBER:

SC343593 (Scotland)

ACCOUNTANTS:

Douglas Home and Co Ltd

Old Tweed Mill

Dunsdale Road

Selkirk

Selkirkshire

TD7 5DZ

FIXED ASSETS

Tangible assets

2

4,844

6,460

CURRENT ASSETS

Stocks

12,000

12,250

Debtors

20,003

21,829

Cash in hand

100

32,103

34,179

CREDITORS

Amounts falling due within one year

77,668

79,057

NET CURRENT LIABILITIES

(45,565

)

(44,878

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(40,721

)

(38,418

)

CAPITAL AND RESERVES

Called up share capital

3

100

Profit and loss account

(40,821

)

(38,518

)

SHAREHOLDERS' FUNDS

(40,721

)

(38,418

)

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 24 May 2017 and were signed on its behalf by:

D A Barrowclough - 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.

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Office equipment

-

25% on reducing balance

Stocks

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

moving items.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Going concern

The company meets its day to day working capital requirements through a bank overdraft and directors loan.

During 2015 the directors took steps to try and increase revenue and reduce costs in order to generate profits

however a loss was made. There are also negative profit and loss reserves brought forward which has meant that

closing reserves as at 31 August 2015 still remain adverse.

The directors are taking steps to increase revenue generation to reverse this trend and has prepared profit

projections. Based on these projections a significant improvement of trading performance and a movement to

profitability is forecasted.

On this basis, the Director considers it appropriate to prepare the financial statements on the going concern basis,

however, inherently there can be no certainty in relation to the above matters.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2015

and 31 August 2016

12,646

DEPRECIATION

At 1 September 2015

6,186

Charge for year

1,616

At 31 August 2016

7,802

NET BOOK VALUE

At 31 August 2016

4,844

At 31 August 2015

6,460

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/8/16

31/8/15

value:

£

100

Ordinary

£1

100