Company Registration No. SC319789 (Scotland)
S SCOTT LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2016
S SCOTT LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
S SCOTT LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 JULY 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
36,018
327,969
Investments
2
318,559
70,350
354,577
398,319
Current assets
Debtors
3
113,782
219,817
Cash at bank and in hand
111,737
223,300
225,519
443,117
Creditors: amounts falling due within one year
(3,621)
(72,897)
Net current assets
221,898
370,220
Total assets less current liabilities
576,475
768,539
Provisions for liabilities
(6,123)
(6,722)
570,352
761,817
Capital and reserves
Called up share capital
4
3
3
Profit and loss account
570,349
761,814
Shareholders'  funds
570,352
761,817
For the financial year ended 31 July 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 17 March 2017
A Scott
Director
Company Registration No. SC319789
S SCOTT LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2016
- 2 -
1
Accounting policies
1.1
Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.3
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Plant and machinery
25% on reducing balance
Computer equipment
25% on reducing balance
Motor vehicles
25% on reducing balance
Tangible fixed assets include investment properties professionally valued by Chartered Surveyors on an existing use open market value basis. Other tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
1.4
Investments
Fixed asset investments are stated at cost less provision for diminution in value.
1.5
Pensions
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
1.6
Deferred taxation
Deferred tax is provided in full on timing differences which result in an obligation at the balance sheet date to pay more tax, or right to pay less tax, at a future date, at rates expected to apply when they crystallise based on current tax rates and law. Timing differences arise from inclusion of items of income and expenditure in taxation computations in periods different from those in which they are included in the financial statements. Deferred tax assets are recognised to the extent that it is regarded as more likely than not they will be recovered. Deferred tax assets and liabilities are not discounted.
1.7
Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
S SCOTT LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2016
- 3 -
2
Fixed assets
Tangible assets
Investments
Total
£
£
£
Cost
At 1 August 2015
358,983
70,350
429,333
Additions
26,000
300,050
326,050
Disposals
(318,232)
(51,841)
(370,073)
At 31 July 2016
66,751
318,559
385,310
Depreciation
At 1 August 2015
31,015
-
31,015
On disposals
(9,946)
-
(9,946)
Charge for the year
9,664
-
9,664
At 31 July 2016
30,733
-
30,733
Net book value
At 31 July 2016
36,018
318,559
354,577
At 31 July 2015
327,969
70,350
398,319
3
Debtors
Debtors include an amount of £0 (2015 - £100,000) which is due after more than one year.
4
Share capital
2016
2015
£
£
Allotted, called up and fully paid
3 ordinary shares of £1 each
3
3
2016-07-312015-08-01falsetruetruetruetruetruetmp83D.html2017-03-22SC3197892015-08-012016-07-31SC3197892016-07-31SC3197892015-07-31SC3197892015-07-31SC319789uk-bus:Director12015-08-012016-07-31SC319789uk-gaap:PlantMachinery2015-08-012016-07-31SC319789uk-gaap:ComputerEquipment2015-08-012016-07-31SC319789uk-gaap:MotorVehicles2015-08-012016-07-31SC319789uk-bus:OrdinaryShareClass12015-08-012016-07-31SC319789uk-bus:OrdinaryShareClass12016-07-31SC319789uk-bus:OrdinaryShareClass12015-07-31xbrli:purexbrli:sharesiso4217:GBP

Options

Monitor

  • Receive an alert email on changes to financial status
  • Early indications of liquidity problems
  • Warns when company reporting is overdue
  • Free service, no spam emails
Monitor Now

Please Help Us!

Was this document useful to you? Please Like our page. The more Likes we get, the more documents we can supply you free. Thanks.