REGISTERED NUMBER: SC290408 (Scotland)

Abbreviated Unaudited Accounts

for the Year Ended 31 October 2012

for

Agricultural Auto Engineering Ltd.

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

122,500

131,250

Tangible assets

3

15,000

18,892

137,500

150,142

CURRENT ASSETS

Stocks

4,009

4,282

Debtors

161,173

119,933

Cash at bank and in hand

132,503

72,802

297,685

197,017

CREDITORS

Amounts falling due within one year

237,196

181,193

NET CURRENT ASSETS

60,489

15,824

TOTAL ASSETS LESS CURRENT LIABILITIES

197,989

165,966

PROVISIONS FOR LIABILITIES

2,300

2,915

NET ASSETS

195,689

163,051

CAPITAL AND RESERVES

Called up share capital

4

2

2

Profit and loss account

195,687

163,049

SHAREHOLDERS' FUNDS

195,689

163,051

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2012.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2012 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 25 July 2013 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

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 2011

and 31 October 2012

175,000

AMORTISATION

At 1 November 2011

43,750

Amortisation for year

8,750

At 31 October 2012

52,500

NET BOOK VALUE

At 31 October 2012

122,500

At 31 October 2011

131,250

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2011

56,832

Additions

1,322

At 31 October 2012

58,154

DEPRECIATION

At 1 November 2011

37,940

Charge for year

5,214

At 31 October 2012

43,154

NET BOOK VALUE

At 31 October 2012

15,000

At 31 October 2011

18,892

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2012

2011

value:

£

£

2

ordinary

£1

2

2