R_DARLING_&_SONS_LIMITED - Accounts

R. DARLING & SONS LIMITED - Company Information

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Company Registration No. SC092737 (Scotland)

R DARLING & SONS LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2016

R DARLING & SONS LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

R DARLING & SONS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 NOVEMBER 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

664,808

1,429,486

Investments

14,598

679,406

1,444,084

Current assets

Stocks

4,187

2,011

Debtors

612,893

595,919

Cash at bank and in hand

260,484

266,217

877,564

864,147

Creditors: amounts falling due within one year

(166,580)

(83,987)

Net current assets

710,984

780,160

Total assets less current liabilities

1,390,390

2,224,244

Creditors: amounts falling due after more than one year

(4,834)

1,390,390

2,219,410

Capital and reserves

Called up share capital

25,000

Profit and loss account

1,365,390

2,194,410

Shareholders' funds

1,390,390

2,219,410

R DARLING & SONS LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

30 NOVEMBER 2016

- 2 -

For the financial year ended 30 November 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 financial statements for the year in question in accordance with section 476;

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

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 13 June 2017

Miss R. Darling

Director

Company Registration No. SC092737

R DARLING & SONS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 NOVEMBER 2016

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings Freehold

Over 50 years sraight line

Plant and machinery

20% Reducing balance

Fixtures, fittings & equipment

20% Reducing balance

Motor vehicles

25% Reducing balance

1.5

Leasing and hire purchase commitments

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.6

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

1.7

Stock

Stock is valued at the lower of cost and net realisable value.

R DARLING & SONS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 NOVEMBER 2016

- 4 -

Fixed assets

Tangible assets

Investments

Total

Cost

At 1 December 2015

2,117,450

14,598

2,132,048

Additions

15,861

Disposals

(790,694)

At 30 November 2016

1,342,617

14,598

1,357,215

Depreciation

At 1 December 2015

687,964

On disposals

(65,821)

Charge for the year

55,666

At 30 November 2016

677,809

Net book value

At 30 November 2016

664,808

14,598

679,406

At 30 November 2015

1,429,486

14,598

1,444,084

Share capital

2016

2015

Allotted, called up and fully paid

25,000 Ordinary of £1 each

25,000