Aberfoyle Satellite Co Ltd - Period Ending 2016-10-31

Aberfoyle Satellite Co Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 October 2016

Roderick Gunkel & Associates Ltd
Orchardlea
Callander
FK17 8BG

Aberfoyle Satellite Co Ltd
Contents

Accountants' Report

Abbreviated Balance Sheet

Notes to the Abbreviated Accounts

3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Aberfoyle Satellite Co Ltd
for the Year Ended 31 October 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Aberfoyle Satellite Co Ltd for the year ended 31 October 2016 set out on pages from the company's accounting records and from information and explanations you have given us.

As a member of the Association Of Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook/accaglobal.com.

This report is made solely to the Board of Directors of Aberfoyle Satellite Co Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Aberfoyle Satellite Co Ltd and state those matters that we have agreed to state to them, as a body . To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Aberfoyle Satellite Co Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Aberfoyle Satellite Co Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Aberfoyle Satellite Co Ltd. You consider that Aberfoyle Satellite Co Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Aberfoyle Satellite Co Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Roderick Gunkel & Associates Ltd
Orchardlea
Callander
FK17 8BG

24 January 2017

Page 1

Aberfoyle Satellite Co Ltd
(Registration number: SC350255)
Abbreviated Balance Sheet at 31 October 2016

	Note	2016 £	2015 £
Fixed assets
Tangible fixed assets		10,490	14,690
Current assets
Stocks		4,745	4,750
Debtors		16,060	10,363
Cash at bank and in hand		4,634	6,792
		25,439	21,905
Creditors: Amounts falling due within one year		(24,341)	(22,528)
Net current assets/(liabilities)		1,098	(623)
Total assets less current liabilities		11,588	14,067
Creditors: Amounts falling due after more than one year		-	(7,154)
Provisions for liabilities		(2,938)	(4,782)
Net assets		8,650	2,131
Capital and reserves
Called up share capital	4	100	100
Profit and loss account		8,550	2,031
Shareholders' funds		8,650	2,131

For the year ending 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 Act with respect to accounting records and the preparation of accounts.

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

Approved by the Board on 24 January 2017 and signed on its behalf by:

.........................................
Joseph Kennedy
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Aberfoyle Satellite Co Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 October 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures, fittings, tools and equipment	20-50% reducing balance p.a.
Motor vehicles	20-50% reducing balance p.a.

Work in progress

Work in progress is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Tangible fixed assets

	Fixtures and fittings £	Motor vehicles £	Total £
Cost or valuation
At 1 November 2015	2,635	33,995	36,630
Depreciation
At 1 November 2015	2,215	19,725	21,940
Charge for the year	80	4,120	4,200
At 31 October 2016	2,295	23,845	26,140
Net book value
At 31 October 2016	340	10,150	10,490
At 31 October 2015	420	14,270	14,690

Page 3

Aberfoyle Satellite Co Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 October 2016
......... continued

2	Fixed assets

	Tangible assets £	Total £
Cost
At 1 November 2015	36,630	36,630
At 31 October 2016	36,630	36,630
Depreciation
At 1 November 2015	21,940	21,940
Charge for the year	4,200	4,200
At 31 October 2016	26,140	26,140
Net book value
At 31 October 2016	10,490	10,490
At 31 October 2015	14,690	14,690

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

	2016 £	2015 £

Amounts falling due within one year	5,996	6,849
Amounts falling due after more than one year	-	8,007
Total secured creditors	5,996	14,856

4	Share capital

Allotted, called up and fully paid shares

	2016			2015
		No.	£		No.	£
Ordinary shares of £1 each		100	100		100	100

Page 4