REGISTERED NUMBER: SC290408 (Scotland)

Agricultural Auto Engineering Ltd.

Abbreviated Unaudited Accounts

for the Year Ended 31 October 2014

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

G A Fitzelle

SECRETARY:

Mrs A Fitzelle

REGISTERED OFFICE:

27 Clifford Road

North Berwick

EH39 4PW

REGISTERED NUMBER:

SC290408 (Scotland)

ACCOUNTANTS:

Whitelaw Wells

9 Ainslie Place

Edinburgh

EH3 6AT

BANKERS:

Bank of Scotland

23 Westgate

North Berwick

EH39 4AG

FIXED ASSETS

Intangible assets

2

105,000

113,750

Tangible assets

3

202,457

11,192

307,457

124,942

CURRENT ASSETS

Stocks

3,350

3,557

Debtors

132,837

143,694

Cash at bank and in hand

13,637

213,236

149,824

360,487

CREDITORS

Amounts falling due within one year

213,681

252,241

NET CURRENT (LIABILITIES)/ASSETS

(63,857

)

108,246

TOTAL ASSETS LESS CURRENT LIABILITIES

243,600

233,188

PROVISIONS FOR LIABILITIES

9,973

1,664

NET ASSETS

233,627

231,524

CAPITAL AND RESERVES

Called up share capital

4

2

2

Profit and loss account

233,625

231,522

SHAREHOLDERS' FUNDS

233,627

231,524

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2014 in accordance with Section 476 of the Companies Act 2006.

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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 30 June 2015 and were signed by:

G A Fitzelle - Director

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 and revenue recognition

Turnover represents net invoiced sales of automotive and agricultural engineering services and

goods.

Revenue is recognised as earned on completion of services and delivery of goods.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets

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

Plant and machinery

-

25% on reducing balance

Computer equipment

-

25% on cost

In the opinion of the director, due to the location of the freehold property and the proposed

maintenance programme, he does not consider that the value of the property will diminish.

Therefore there is no depreciation charged on the cost of the heritable property. This policy is not

in accordance with the requirements of the Companies Act 2006, but departure from the provisions

of the Act is required in order to provide a true and fair view.

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 timing differences that have originated but not reversed

at the balance sheet date where transactions or events have occurred at that date that will result in

an obligation to pay more, or a right to pay less or to receive more, tax. Deferred tax assets are

recognised only to the extent that the directors consider that it is more likely than not that there

will be suitable taxable profits from which the future reversal of the underlying timing differences

can be deducted. Deferred tax is measured on an undiscounted basis at the rates that are expected

to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or

substantively enacted at the balance sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line

basis over the period of the lease.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2013

and 31 October 2014

175,000

AMORTISATION

At 1 November 2013

61,250

Amortisation for year

8,750

At 31 October 2014

70,000

NET BOOK VALUE

At 31 October 2014

105,000

At 31 October 2013

113,750

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2013

58,154

Additions

207,287

At 31 October 2014

265,441

DEPRECIATION

At 1 November 2013

46,962

Charge for year

16,022

At 31 October 2014

62,984

NET BOOK VALUE

At 31 October 2014

202,457

At 31 October 2013

11,192

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

2

Ordinary

£1

2

2