Duncryne Liveries Limited Accounts

DUNCRYNE LIVERIES LTD. - Company Information






Duncryne Liveries Limited
	Company No. SC387305
		Abbreviated Accounts
		31 October 2016

at	31 October 2016

Company No.		SC387305	Notes	2016	2015
				£	£
Fixed assets

	Tangible assets		2	16,800	17,200

				16,800	17,200
Current assets



	Cash at bank and in hand			649	925
				649	925
Creditors: Amounts falling due within one year				(43,681)	(39,181)
Net current liabilities				(43,032)	(38,256)
Total assets less current liabilities				(26,232)	(21,056)




Net liabilities				(26,232)	(21,056)

Capital and reserves
	Called up share capital		3	2	2



	Profit and loss account			(26,234)	(21,058)

Shareholders' funds				(26,232)	(21,056)

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in part 15 of the Companies Act 2006 and with the Financial Reporting Standard for Smaller Entities (effective January 2015).

For the year ended 31 October 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
Approved by the board on 31 October 2016

And signed on its behalf by:

M. MacDonald
Director
31 October 2016

for the year ended 31 October 2016

Accounting policies

Basis of preparation

The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015) ["the FRSSE"].

Turnover

Turnover represents the amounts (excluding value added tax) derived from the provision of goods and services to customers.

Tangible fixed assets and depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Plant and machinery

25% Straight line

Freehold investment property

In accordance with the FRSSE, investment properties are revalued annually and any surplus or deficit is transferred to revaluation reserve. No depreciation is provided in respect of investment properties.
This treatment conflicts with the requirements of the Companies Act 2006 that all properties should be depreciated. The directors consider that, because these properties are not held for consumption, but for their investment potential it is necessary to adopt the requirements of the FRSSE in order to give a true and fair view.

Deferred taxation

Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts.
Deferred tax is provided in full on timing differences which result in an obligation to pay more (or a right to pay less) tax at a future date, at the tax rates that are expected to apply when the timing differences reverse, based upon current tax rates and laws.
Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset.
Deferred tax assets are recognised to the extent that it is regarded as more likely than not that they will be recovered. Deferred tax assets and liabilities are not discounted.

2	Fixed assets
		Tangible fixed assets	Total
		£	£
	Cost or revaluation
	At 1 November 2015	28,966	28,966




	At 31 October 2016	28,966	28,966
	Amortisation
	At 1 November 2015	11,766	11,766
	Charge for the year	400	400



	At 31 October 2016	12,166	12,166
	Net book values
	At 31 October 2016	16,800	16,800
	At 31 October 2015	17,200	17,200

3	Share Capital
		Nominal value	2016	2016	2015
		£	Number	£	£
	Allotted, called up and fully paid:
	Ordinary	1.00	2	2	2




				2	2