SCOTTISH_CRANNOG_CENTRE_L - Accounts

SCC TRADING LIMITED - Company Information

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Company Registration No. SC168613 (Scotland)

SCOTTISH CRANNOG CENTRE LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2014

SCOTTISH CRANNOG CENTRE LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

SCOTTISH CRANNOG CENTRE LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2014

- 1 -

2014

2013

Notes

Fixed assets

Tangible assets

49,968

55,016

Current assets

Stocks

5,071

7,547

Debtors

9,312

18,508

Cash at bank and in hand

992

1,370

15,375

27,425

Creditors: amounts falling due within one year

(26,407)

(39,096)

Net current liabilities

(11,032)

(11,671)

Total assets less current liabilities

38,936

43,345

Accruals and deferred income

(55,802)

(60,069)

(16,866)

(16,724)

Capital and reserves

Called up share capital

Profit and loss account

(16,868)

(16,726)

Shareholders' funds

(16,866)

(16,724)

For the financial year ended 31 March 2014 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 17 November 2014

B L Andrian

Director

Company Registration No. SC168613

SCOTTISH CRANNOG CENTRE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2014

- 2 -

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 April 2008).

The accounts have been prepared on a going concern basis. Although the company has a deficiency of net liabilities over net assets, it is anticipated that support will be given through overdraft facilities, if necessary. In view of this the Directors consider that the going concern basis is appropriate.

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:

Crannog Visitors Centre

4% per annum straight line

Fittings and equipment

10% per annum reducing balance

Motor vehicles

20% per annum reducing balance

1.5

Stock

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

1.6

Government grants

Grants are credited to deferred revenue. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.

1.7

Group accounts

The financial statements present information about the company as an individual undertaking and not about its group. The company and its holding company comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.

SCOTTISH CRANNOG CENTRE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2014

- 3 -

Fixed assets

Tangible assets

Cost

At 1 April 2013 & at 31 March 2014

142,985

Depreciation

At 1 April 2013

87,969

Charge for the year

5,048

At 31 March 2014

93,017

Net book value

At 31 March 2014

49,968

At 31 March 2013

55,016

Share capital

2014

2013

Allotted, called up and fully paid

2 Ordinary Shares of £1 each