A. & D. House Furnishers Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: SC068754 (Scotland)

Abbreviated Accounts for the Year Ended 31 May 2016

for

A. & D. House Furnishers Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mr D A MacKay

Mrs E MacKay

Mr D A Mackay

SECRETARY:

Mrs E MacKay

REGISTERED OFFICE:

11 Shore Street

Thurso

Caithness

KW14 8BN

REGISTERED NUMBER:

SC068754 (Scotland)

ACCOUNTANTS:

Reid & Fraser

Chartered Accountants

15 Princes Street

Thurso

Caithness

KW14 7BQ

SOLICITORS:

D W Georgeson & Son

Bridge Street

Wick

Caithness

KW1 4NG

FIXED ASSETS

Tangible assets

2

58,458

62,959

CURRENT ASSETS

Stocks

70,528

76,718

Debtors

264,779

283,754

335,307

360,472

CREDITORS

Amounts falling due within one year

(50,788

)

(63,947

)

NET CURRENT ASSETS

284,519

296,525

TOTAL ASSETS LESS CURRENT
LIABILITIES

342,977

359,484

CREDITORS

Amounts falling due after more than one
year

(10,557

)

(15,562

)

PROVISIONS FOR LIABILITIES

(1,596

)

-

NET ASSETS

330,824

343,922

CAPITAL AND RESERVES

Called up share capital

3

10,000

Profit and loss account

320,824

333,922

SHAREHOLDERS' FUNDS

330,824

343,922

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 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 21 February 2017 and were signed on its behalf
by:

Mr D A MacKay - 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.

FIXED ASSETS AND DEPRECIATION

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% straight line

Plant and machinery

-

15% straight line

Motor vehicles

-

25% reducing balance

STOCK AND WORK IN PROGRESS

Stock and work in progress are valued at the lower of cost and net realisable value. The cost of work in progress

includes direct materials and labour based on a normal level of activity.

Where necessary, provision is made for obsolete, slow moving and defective stock.

DEFERRED TAX

Deferred tax is provided in full, using the liability method, on temporary differences arising between the tax

bases of assets and liabilities and their carrying amount in the balance sheet. It is provided using the tax rates

that are expected to apply in the period when the asset or liability is settled, based on the tax rates that have been

enacted or substantively enacted at the balance sheet date.

Deferred tax assets are recognised to the extent that it is probable that future taxable profits will be available

against which temporary differences can be utilised.

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.

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

and 31 May 2016

203,712

DEPRECIATION

At 1 June 2015

140,753

Charge for year

4,501

At 31 May 2016

145,254

NET BOOK VALUE

At 31 May 2016

58,458

At 31 May 2015

62,959

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

10,000

Ordinary

£1

10,000

4.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2016 and

31 May 2015:

2016

2015

£

Mr D A MacKay

Balance outstanding at start of year

3,402

Amounts repaid

-

Balance outstanding at end of year

3,402