REGISTERED NUMBER: SC216589 (Scotland)

Abbreviated Unaudited Accounts for the Year Ended 31 March 2016

for

AC & IC Fraser & Son Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mrs I C Fraser

A C Fraser

A C Fraser

SECRETARY:

Mrs I C Fraser

REGISTERED OFFICE:

Glendhu

Garve Road

Ullapool

Ross shire

IV26 2SX

REGISTERED NUMBER:

SC216589 (Scotland)

ACCOUNTANTS:

Mackay & Co

Chartered Accountants

Main Street

Golspie

Sutherland

KW10 6RH

FIXED ASSETS

Tangible assets

2

285,874

261,308

CURRENT ASSETS

Stocks

85,260

99,629

Debtors

225,371

209,363

Cash at bank and in hand

152,901

43,126

463,532

352,118

CREDITORS

Amounts falling due within one year

3

273,755

261,342

NET CURRENT ASSETS

189,777

90,776

TOTAL ASSETS LESS CURRENT LIABILITIES

475,651

352,084

CREDITORS

Amounts falling due after more than one year

3

(134,972

)

(118,566

)

PROVISIONS FOR LIABILITIES

(14,307

)

(5,969

)

NET ASSETS

326,372

227,549

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

326,272

227,449

SHAREHOLDERS' FUNDS

326,372

227,549

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 7 October 2016 and were signed on its behalf by:

A C Fraser - 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.

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.

Freehold property

-

4% on cost

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

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.

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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

719,582

Additions

75,273

Disposals

(10,201

)

At 31 March 2016

784,654

DEPRECIATION

At 1 April 2015

458,274

Charge for year

49,700

Eliminated on disposal

(9,194

)

At 31 March 2016

498,780

NET BOOK VALUE

At 31 March 2016

285,874

At 31 March 2015

261,308

3.

CREDITORS

Creditors include an amount of £ 144,845 (31.3.15 - £ 143,460 ) for which security has been

given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.16

31.3.15

value:

£

£

100

Ordinary

£1

100

100