REGISTERED NUMBER: SC249161 (Scotland)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MAY 2016

FOR

ABERDEENSHIRE FIREPLACES LTD.

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

D J Harrison

Mrs A M Harrison

SECRETARY:

Mrs A M Harrison

REGISTERED OFFICE:

25 South Street

Mintlaw

Aberdeenshire

AB42 5EL

REGISTERED NUMBER:

SC249161 (Scotland)

FIXED ASSETS

Intangible assets

2

19,518

22,180

Tangible assets

3

13,515

6,327

33,033

28,507

CURRENT ASSETS

Stocks

88,110

79,311

Debtors

32,249

23,342

Cash at bank and in hand

30,408

28,999

150,767

131,652

CREDITORS

Amounts falling due within one year

4

115,106

112,088

NET CURRENT ASSETS

35,661

19,564

TOTAL ASSETS LESS CURRENT LIABILITIES

68,694

48,071

CREDITORS

Amounts falling due after more than one year

4

(7,730

)

(12,960

)

PROVISIONS FOR LIABILITIES

(2,703

)

(1,265

)

NET ASSETS

58,261

33,846

CAPITAL AND RESERVES

Called up share capital

5

2

2

Profit and loss account

58,259

33,844

SHAREHOLDERS' FUNDS

58,261

33,846

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 21 February 2017 and were signed on its behalf by:

D J Harrison - 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 January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax, except in respect of service contracts

where turnover is recognised when the company obtains the right to consideration.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

20% on reducing balance

Motor vehicles

-

20% on reducing balance

Computer equipment

-

20% on reducing balance

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 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 which is result in an obligation to pay more or (less tax) tax at a future date, at the

average tax rates that are expected to apply when the timing differences reverse, based on 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 and liabilities are not discounted.

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.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2015

and 31 May 2016

53,233

AMORTISATION

At 1 June 2015

31,053

Amortisation for year

2,662

At 31 May 2016

33,715

NET BOOK VALUE

At 31 May 2016

19,518

At 31 May 2015

22,180

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2015

20,583

Additions

13,595

Disposals

(10,563

)

At 31 May 2016

23,615

DEPRECIATION

At 1 June 2015

14,256

Charge for year

2,201

Eliminated on disposal

(6,357

)

At 31 May 2016

10,100

NET BOOK VALUE

At 31 May 2016

13,515

At 31 May 2015

6,327

4.

CREDITORS

Creditors include an amount of £ 4,250 for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

2

Ordinary

£1

2

2