REGISTERED NUMBER: |
ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 31 OCTOBER 2014 |
FOR |
AAZTEC COATINGS LIMITED |
REGISTERED NUMBER: |
ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 31 OCTOBER 2014 |
FOR |
AAZTEC COATINGS LIMITED |
AAZTEC COATINGS LIMITED (REGISTERED NUMBER: SC177103) |
CONTENTS OF THE ABBREVIATED ACCOUNTS |
for the Year Ended 31 October 2014 |
Page |
Company Information | 1 |
Abbreviated Balance Sheet | 2 |
Notes to the Abbreviated Accounts | 4 |
Chartered Accountants' Report | 6 |
AAZTEC COATINGS LIMITED |
COMPANY INFORMATION |
for the Year Ended 31 October 2014 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
BANKERS: |
AAZTEC COATINGS LIMITED (REGISTERED NUMBER: SC177103) |
ABBREVIATED BALANCE SHEET |
31 October 2014 |
31.10.14 | 31.10.13 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 2 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash in hand |
CREDITORS |
Amounts falling due within one year | 3 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
CREDITORS |
Amounts falling due after more than one year |
3 |
( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 4 |
Profit and loss account | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
AAZTEC COATINGS LIMITED (REGISTERED NUMBER: SC177103) |
ABBREVIATED BALANCE SHEET - continued |
31 October 2014 |
The financial statements were approved by the director on |
AAZTEC COATINGS LIMITED (REGISTERED NUMBER: SC177103) |
NOTES TO THE ABBREVIATED ACCOUNTS |
for the Year Ended 31 October 2014 |
1. | ACCOUNTING POLICIES |
Accounting convention |
The financial statements have been prepared under the historical cost convention and in accordance with the |
Financial Reporting Standard for Smaller Entities (effective April 2008). |
Turnover |
Turnover represents net invoiced sales of goods, excluding value added tax. |
Tangible fixed assets |
Improvements to property | - |
Plant and machinery | - |
Fixtures and fittings | - |
Computer equipment | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
Deferred tax |
Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the |
balance sheet date. |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held |
under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases |
are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to the profit and loss account over the relevant period. The |
capital element of the future payments is treated as a liability. |
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the |
period of the lease. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
scheme are charged to the profit and loss account in the period to which they relate. |
Going concern |
Despite the losses made in the year the accounts have been prepared on the going concern basis. The company |
has the continued financial support of the directors who expect that the company will continue to trade and pay |
its debts as they fall due. |
AAZTEC COATINGS LIMITED (REGISTERED NUMBER: SC177103) |
NOTES TO THE ABBREVIATED ACCOUNTS - continued |
for the Year Ended 31 October 2014 |
2. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 November 2013 |
Additions |
At 31 October 2014 |
DEPRECIATION |
At 1 November 2013 |
Charge for year |
At 31 October 2014 |
NET BOOK VALUE |
At 31 October 2014 |
At 31 October 2013 |
3. | CREDITORS |
Creditors include an amount of £ |
They also include the following debts falling due in more than five years: |
31.10.14 | 31.10.13 |
£ | £ |
Repayable by instalments | 2,759 | 12,001 |
4. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.10.14 | 31.10.13 |
value: | £ | £ |
Ordinary | £1 |
5. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 31 October 2014 and |
31 October 2013: |
31.10.14 | 31.10.13 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Balance outstanding at end of year | ( |
) |
A personal guarantee and indemnity for £60,000 and interest was made by Raymond and Irene McColl for the |
new loan advanced by the Bank of Scotland. This is also supported by existing 2nd ranking standard security |
over personal property at 19 Gateside Gardens, Barrhead. |
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
AAZTEC COATINGS LIMITED |
The following reproduces the text of the report prepared for the director in respect of the company's annual |
unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to five) |
have been prepared. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of Aaztec Coatings Limited for the year ended 31 October 2014 which comprise the Profit and Loss |
Account, the Balance Sheet, and the related notes from the company's accounting records and from information and |
explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants of Scotland, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.org.uk/accountspreparationguidance. |
This report is made solely to the director of Aaztec Coatings Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Aaztec Coatings Limited and state those matters that we have agreed to state to the director of Aaztec Coatings Limited in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at http://www.icas.org.uk/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report. |
It is your duty to ensure that Aaztec Coatings Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Aaztec Coatings Limited. You consider that Aaztec Coatings Limited 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 financial statements of Aaztec Coatings Limited. 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 financial statements. |
Chartered Accountants |
31 July 2015 |