MOIR FABRICATIONS LIMITED

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2015

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

to

4

DIRECTOR:

B Moir

SECRETARY:

Mrs A C Moir

REGISTERED OFFICE:

Redburn

Folla Rule

Rothienorman

Inverurie

Aberdeenshire

AB51 8UN

REGISTERED NUMBER:

SC177628 (Scotland)

ACCOUNTANT:

Ashley Johnston

The Bield

Hill Park

Inverness

IV2 4AL

FIXED ASSETS

Tangible assets

2

11,472

14,449

CURRENT ASSETS

Stocks

95,138

53,684

Debtors

34,818

60,073

129,956

113,757

CREDITORS

Amounts falling due within one year

3

105,861

100,104

NET CURRENT ASSETS

24,095

13,653

TOTAL ASSETS LESS CURRENT LIABILITIES

35,567

28,102

CREDITORS

Amounts falling due after more than one year

3

(20,000

)

-

PROVISIONS FOR LIABILITIES

(500

)

(3,612

)

NET ASSETS

15,067

24,490

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

14,967

24,390

SHAREHOLDERS' FUNDS

15,067

24,490

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

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

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 28 October 2016 and were signed by:

B Moir - 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 value of work done arising from the company's principal activity of welding and

fabrication, 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.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

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 in an obligation to pay more (or less) 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.

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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

and 31 December 2015

72,530

DEPRECIATION

At 1 January 2015

58,081

Charge for year

2,977

At 31 December 2015

61,058

NET BOOK VALUE

At 31 December 2015

11,472

At 31 December 2014

14,449

3.

CREDITORS

Creditors include an amount of £ 56,867 (2014 - £ 54,500 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

100

Ordinary

£1

100

100