REGISTERED NUMBER: SC193344 (Scotland)

Abbreviated Accounts For The Year Ended 31 May 2016

for

A B T Machine Tools & Tooling Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

D G Ross

SECRETARY:

Mrs P Ross

REGISTERED OFFICE:

Regent Court

70 West Regent Street

Glasgow

G2 2QZ

REGISTERED NUMBER:

SC193344 (Scotland)

ACCOUNTANTS:

Robb Ferguson

Chartered Accountants

Regent Court

70 West Regent Street

Glasgow

G2 2QZ

FIXED ASSETS

Tangible assets

2

329,091

318,801

CURRENT ASSETS

Stocks

579,027

492,009

Debtors

965,236

1,077,124

Cash at bank and in hand

107,344

16,373

1,651,607

1,585,506

CREDITORS

Amounts falling due within one year

3

1,447,631

1,385,215

NET CURRENT ASSETS

203,976

200,291

TOTAL ASSETS LESS CURRENT LIABILITIES

533,067

519,092

CREDITORS

Amounts falling due after more than one year

3

(76,474

)

(70,673

)

PROVISIONS FOR LIABILITIES

(19,862

)

(14,900

)

NET ASSETS

436,731

433,519

CAPITAL AND RESERVES

Called up share capital

4

15,000

15,000

Profit and loss account

421,731

418,519

SHAREHOLDERS' FUNDS

436,731

433,519

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2016 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 February 2017 and were signed by:

D G Ross - 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.

Turnover is stated net of VAT and trade discounts. Turnover from the sale of goods is recognised when the

goods are physically delivered to the customer.

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.

Improvements to property

-

10% on cost

Plant & machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

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 that result in an obligation to pay more tax in the future, or a right to pay

less tax in the future, have occurred at the balance sheet date. Timing differences are differences between the

Company's taxable profits and its results as stated in the financial statements that arise from the inclusion of

gains or losses in tax assessments in periods different from those in which they are recognised in the financial

statements. Deferred tax assets are recognised to the extent they are recoverable and where future taxable profits

are anticipated.

Deferred tax is measured at the average tax rates that are expected to apply in the periods in which the timing

differences are expected to reverse, based on tax rates and laws that have been enacted or substantially enacted

by the balance sheet date. Deferred tax is measured on a non-discounted basis.

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 June 2015

608,381

Additions

75,183

At 31 May 2016

683,564

DEPRECIATION

At 1 June 2015

289,580

Charge for year

64,893

At 31 May 2016

354,473

NET BOOK VALUE

At 31 May 2016

329,091

At 31 May 2015

318,801

3.

CREDITORS

Creditors include an amount of £ 442,688 (2015 - £ 244,682 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

15,000

Ordinary

£1

15,000

15,000