Company Registration No. SC280955 (Scotland)
HIGHLANDS & ISLANDS AUDIO VISUAL LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2016
HIGHLANDS & ISLANDS AUDIO VISUAL LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
HIGHLANDS & ISLANDS AUDIO VISUAL LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Intangible assets
2
6,269
6,269
Tangible assets
2
3,719
4,957
9,988
11,226
Current assets
Stocks
2,876
3,325
Debtors
50,851
43,230
Cash at bank and in hand
67,158
7,920
120,885
54,475
Creditors: amounts falling due within one year
(85,285)
(44,545)
Net current assets
35,600
9,930
Total assets less current liabilities
45,588
21,156
Capital and reserves
Called up share capital
3
2
1
Profit and loss account
45,586
21,155
Shareholders' funds
45,588
21,156
For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his 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 and authorised for issue on 16 May 2016
Mr Kenneth Callen
Director
Company Registration No. SC280955
HIGHLANDS & ISLANDS AUDIO VISUAL LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention.
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Research and development
Research expenditure is written off to the profit and loss account in the year in which it is incurred. Development expenditure is written off in the same way unless the director are satisfied as to the technical, commercial and financial viability of individual projects. In this situation, the expenditure is deferred and amortised over the period during which the company is expected to benefit.
1.5
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:
Fixtures, fittings & equipment
25% Reducing Balance
Motor vehicles
25% Reducing Balance
1.6
Stock
Stock is valued at the lower of cost and net realisable value.
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 April 2015 & at 31 March 2016
6,269
15,990
22,259
Depreciation
At 1 April 2015
-
11,032
11,032
Charge for the year
-
1,239
1,239
At 31 March 2016
-
12,271
12,271
Net book value
At 31 March 2016
6,269
3,719
9,988
At 31 March 2015
6,269
4,957
11,226
HIGHLANDS & ISLANDS AUDIO VISUAL LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2016
- 3 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
2 Ordinary Share Capital of £1 each
2
1