Interbild Limited Small abbreviated accounts

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COMPANY REGISTRATION NUMBER SC027097

INTERBILD LIMITED

UNAUDITED ABBREVIATED ACCOUNTS

31 October 2016

FOURM LIMITED

Chartered Accountants

Stannergate House

41 Dundee Road West

Broughty Ferry

Dundee

DD5 1NB

INTERBILD LIMITED

ABBREVIATED BALANCE SHEET

31 October 2016

		2016	2015
Note		£	£
FIXED ASSETS	2
Tangible assets		464,794	431,415
Investments		11,812	11,812
		-----------	-----------
		476,606	443,227
		-----------	-----------

CURRENT ASSETS

Stocks	1,700	1,625
Debtors	137,694	151,594
Cash at bank and in hand	172,797	150,309
	-----------	-----------
	312,191	303,528
CREDITORS: Amounts falling due within one year	114,148	103,246
	-----------	-----------
NET CURRENT ASSETS	198,043	200,282
	-----------	-----------
TOTAL ASSETS LESS CURRENT LIABILITIES	674,649	643,509

CREDITORS: Amounts falling due after more than one year	41,413	-

PROVISIONS FOR LIABILITIES	15,621	17,513
	-----------	-----------
	617,615	625,996
	-----------	-----------

CAPITAL AND RESERVES

Called up equity share capital	4	10,375	10,375
Share premium account		11,375	11,375
Profit and loss account		595,865	604,246
		-----------	-----------
SHAREHOLDERS' FUNDS		617,615	625,996
		-----------	-----------

For the year ended 31 October 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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

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

These abbreviated accounts were approved by the directors and authorised for issue on 18 May 2017 , and are signed on their behalf by:

T.P. Docherty Director

Company Registration Number: SC027097

INTERBILD LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

YEAR ENDED 31 OCTOBER 2016

1. ACCOUNTING POLICIES

Basis of accounting

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). The company's forecast and projections, taking account of reasonable changes in trading performance, indicate that the company plans to operate within cash generated. The Board of Directors confirm that, after making appropriate enquiries, it has reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, it continues to adopt the going concern basis in preparing these Financial Statements.

Consolidation

In the opinion of the directors, the company and its subsidiary undertakings comprise a small group. The company has therefore taken advantage of the exemption provided by Section 398 of the Companies Act 2006 not to prepare group accounts.

Turnover

The turnover shown in the profit and loss account represents caravan site income during the year, exclusive of Value Added Tax.

Fixed assets

All fixed assets are initially recorded at cost.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Plant & Machinery-20% - 33% Reducing balance method

No depreciation has been provided in respect of land and buildings as, in the opinion of the director, the current market value of these assets exceeds the amounts at which they are carried in the financial statements.

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 agreements

Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account on a straight line basis.

Operating lease agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Deferred taxation

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax, with the following exceptions:

Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments) of fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose of the assets concerned. However, no provision is made where, on the basis of all available evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled over into replacement assets and charged to tax only where the replacement assets are sold.

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 future reversal of the underlying timing differences can be deducted.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

Investments

Fixed asset investments are stated at original cost less provision for any reduction in the value of the investments.

2. FIXED ASSETS

Tangible Assets	Investments	Total
£	£	£

COST

At 1 November 2015	648,849	51,397	700,246
Additions	80,700	–	80,700
Disposals	( 23,000)	–	( 23,000)
	-----------	----------	-----------
At 31 October 2016	706,549	51,397	757,946
	-----------	----------	-----------

DEPRECIATION AND AMOUNTS WRITTEN OFF

At 1 November 2015	217,434	39,585	257,019
Charge for year	41,863	–	41,863
On disposals	( 17,542)	–	( 17,542)
	-----------	----------	-----------
At 31 October 2016	241,755	39,585	281,340
	-----------	----------	-----------

NET BOOK VALUE

At 31 October 2016	464,794	11,812	476,606
	-----------	----------	-----------

At 31 October 2015	431,415	11,812	443,227
	-----------	----------	-----------

Subsidiary Shareholding Country of Undertaking IncorporationCost £ T Docherty Limited 94.5% Scotland 9,584 Fairmuir Property Investment Company Limited 99% Scotland 11,812 ______ Holdings at original cost 21,396 Less Provisions made in year to 31 October 1998 T Docherty Limited (9,584) ______ Net carrying value of investments in subsidiaries £11,812 ====== The aggregate capital and reserves and result for the year for each associate is as noted below: 2016 2015 £ £ Aggregate capital and reserves T Docherty Limited (302,511) (302,511) Fairmuir Property Investment Company Limited 422 6,439 Profit and (loss) for the year T Docherty Limited - - Fairmuir Property Investment Company Limited (6,017) (8,852)

3. RELATED PARTY TRANSACTIONS

The company was under the control of the directors throughout the year. Creditors include director current account balances of £39,247 (2015 - £5,667). Dividends of £10,014 (2015 - £nil) were paid to directors.

4. SHARE CAPITAL

Allotted, called up and fully paid:

	2016		2015
	No.	£	No.	£
Ordinary shares of £ 1 each	10,375	10,375	10,375	10,375
	----------	----------	----------	----------