ABERUTHVEN TRIANGLE LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 APRIL 2016
Company Registration No. SC267179 (Scotland)
ABERUTHVEN TRIANGLE LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2
ABERUTHVEN TRIANGLE LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 APRIL 2016
30 April 2016
- 1 -
2016
2015
Notes
£
£
£
£
Current assets
Stocks
30,667
29,658
Debtors
126
357
Cash at bank and in hand
316
2,209
31,109
32,224
Creditors: amounts falling due within one year
(42,972)
(41,879)
Total assets less current liabilities
(11,863)
(9,655)
Capital and reserves
Called up share capital
2
80
80
Profit and loss account
(11,943)
(9,735)
Shareholders' funds
(11,863)
(9,655)
For the financial year ended 30 April 2016 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 20 January 2017
R A Coventry
Director
Company Registration No. SC267179
ABERUTHVEN TRIANGLE LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 APRIL 2016
- 2 -
1
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 January 2015).
The directors have prepared the financial statements on the going concern basis on the grounds that financial support will be provided to the company from the directors personally and from associated companies controlled by the directors in order for the company to meet its liabilities as they fall due. In performing the assessment of going concern the directors have considered the period of one year from the date of signing of these financial statements.
1.2
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.3
Stock and work in progress
Work in progress is valued at the lower of cost and net realisable value.
1.4
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. Timing differences are differences between the taxable profits and the results as stated in the financial statements that arise from the inclusion of gains and losses in tax assessments in periods different from those in which they are recognised in the financial statements.
A net deferred tax asset is regarded as recoverable and therefore recognised only when it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of underlying timing differences can be deducted.
Deferred tax is not recognised when fixed assets are revalued unless by the balance sheet date there is a binding agreement to sell the revalued assets and the asset has been revalued to selling price. Neither is deferred tax recognised when fixed assets are sold and it is more likely than not that the taxable gain will be rolled over, being charged to tax only if and when the replacement assets are sold.
Deferred tax is measured on a non-discounted basis.
2
Share capital
2016
2015
£
£
Allotted, called up and fully paid
80 Ordinary shares of £1 each
80
80