Registered Number SC324640
SMILLIES (FIFE) LIMITED
Abbreviated Accounts
30 June 2015
Notes | 2015 | 2014 | |
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£ | £ | ||
Fixed assets | |||
Tangible assets | 2 |
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Current assets | |||
Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
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Net current assets (liabilities) |
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Total assets less current liabilities |
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Provisions for liabilities |
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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital | 3 |
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Profit and loss account |
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Shareholders' funds |
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Approved by the Board on
And signed on their behalf by:
1 Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
Tangible assets depreciation policy
Computer equipment - 3 years straight line
Other accounting policies
Work in progress is valued at the lower of cost and net realisable value.
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 have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more, tax, with the following exceptions:
Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments) of fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement assets, only to that extent that, at the balance sheet date, there is a binding agreement to dispose of the assets concerned. However, no provision is made where , on the basis of all available evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled over into replacement assets and charged to tax only where the replacements are sold;
Provision is made for deferred tax that would arise on the remittance of the retained earnings of overseas subsidiaries, associates and joint ventures only to the extent that, at the balance sheet date, dividends have been accrued as receivable;
Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
Deferred tax is measured on a undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
£ | |
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Cost | |
At 1 July 2014 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 30 June 2015 |
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Depreciation | |
At 1 July 2014 |
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Charge for the year |
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On disposals |
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At 30 June 2015 |
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Net book values | |
At 30 June 2015 | 527 |
At 30 June 2014 | 368 |
4 Transactions with directors
Name of director receiving advance or credit: |
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Description of the transaction: |
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Balance at 1 July 2014: | £ |
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Advances or credits made: | £ |
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Advances or credits repaid: |
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Balance at 30 June 2015: | £ |
Name of director receiving advance or credit: |
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Description of the transaction: |
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Balance at 1 July 2014: | £ |
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Advances or credits made: | £ |
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Advances or credits repaid: |
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Balance at 30 June 2015: | £ |