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REGISTERED NUMBER: SC290408 (Scotland)




















Agricultural Auto Engineering Ltd.

Abbreviated Unaudited Accounts

for the Year Ended 31 October 2015






Agricultural Auto Engineering Ltd. (Registered number: SC290408)






Contents of the Abbreviated Accounts
for the Year Ended 31 October 2015




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 4

Agricultural Auto Engineering Ltd.

Company Information
for the Year Ended 31 October 2015







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

Agricultural Auto Engineering Ltd. (Registered number: SC290408)

Abbreviated Balance Sheet
31 October 2015

2015 2014
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 2 96,250 105,000
Tangible assets 3 229,713 202,457
325,963 307,457

CURRENT ASSETS
Stocks 3,811 3,350
Debtors 65,078 132,837
Cash at bank and in hand 79,951 13,637
148,840 149,824
CREDITORS
Amounts falling due within one year 208,073 213,681
NET CURRENT LIABILITIES (59,233 ) (63,857 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

266,730

243,600

PROVISIONS FOR LIABILITIES 15,509 9,973
NET ASSETS 251,221 233,627

CAPITAL AND RESERVES
Called up share capital 4 2 2
Profit and loss account 251,219 233,625
SHAREHOLDERS' FUNDS 251,221 233,627

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2015 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.

Agricultural Auto Engineering Ltd. (Registered number: SC290408)

Abbreviated Balance Sheet - continued
31 October 2015


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 26 July 2016 and were signed by:





G A Fitzelle - Director


Agricultural Auto Engineering Ltd. (Registered number: SC290408)

Notes to the Abbreviated Accounts
for the Year Ended 31 October 2015

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 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.

Improvements to property - 10% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 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.

Agricultural Auto Engineering Ltd. (Registered number: SC290408)

Notes to the Abbreviated Accounts - continued
for the Year Ended 31 October 2015

2. INTANGIBLE FIXED ASSETS
Total
£   
COST
At 1 November 2014
and 31 October 2015 175,000
AMORTISATION
At 1 November 2014 70,000
Amortisation for year 8,750
At 31 October 2015 78,750
NET BOOK VALUE

At 31 October 2015 96,250
At 31 October 2014 105,000

3. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 November 2014 265,441
Additions 47,564
At 31 October 2015 313,005
DEPRECIATION
At 1 November 2014 62,984
Charge for year 20,308
At 31 October 2015 83,292
NET BOOK VALUE
At 31 October 2015 229,713
At 31 October 2014 202,457

4. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2015 2014
value: £    £   
2 Ordinary £1 2 2