Vision Sheetmetal Work Ltd
|
For the year ended 31 May 2015
Unaudited Abbreviated Report and Financial Statements
Scotland
Registered Number: SC397500
Vision Sheetmetal Work Ltd
For the year ended 31 May 2015
1
Accountants' Report
2
Balance Sheet
3 to 4
Notes to the Abbreviated Financial Statements
Accountants' Report
For the year ended 31 May 2015
Vision Sheetmetal Work Ltd
As described on the balance sheet you are responsible for the preparation of the financial statements for the year
|
ended
31
May
2015
and you consider that the company is exempt from an audit under the Companies Act
2006
.
|
In accordance with your instructions
,
we have compiled these unaudited financial statements in order to assist you
|
to fulfil your statutory responsibilities
,
from the accounting records and information and explanations supplied to us
.
|
Stewart & Cumming Limited
31-33 Bridge Street
Musselburgh
EH21 6AA
1 of 4
Abbreviated Balance Sheet
|
Vision Sheetmetal Work Ltd
2015
2014
2
6,000
12,000
3
23,640
22,121
29,640
34,121
38,313
34,649
4
88,863
96,402
388
-
131,439
127,176
Creditors
:
amounts falling due within one year
|
(115,118)
(117,524)
12,058
13,915
Net current assets
Total assets less current liabilities
|
43,555
46,179
Creditors
:
amounts falling due after more than one year
|
5
(16,000)
(12,333)
31,222
Net assets
30,179
100
100
31,122
30,079
31,222
30,179
Shareholders funds
For the year ended 31 May 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
|
Directors responsibilities: 1) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;
|
2) The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts
|
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
|
Date approved by the board: 26 February 2016
|
Mr Kenneth Johnston Director
|
Signed on behalf of the board of directors
|
2 of 4
Notes to the Abbreviated Financial Statements
|
For the year ended 31 May 2015
Vision Sheetmetal Work Ltd
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
|
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Proposed dividends are only included as liabilities in the financial statements when their payment has been approved
|
by the shareholders prior to the balance sheet date
.
|
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
|
Acquired goodwill is stated at cost less amortisation
.
Amortisation is calculated on a straight line basis over the
|
estimated expected useful economic life of the goodwill of
5
years
.
|
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
|
Plant and Machinery
Computer Equipment
Motor Vehicles
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
|
3 of 4
Notes to the Abbreviated Financial Statements
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For the year ended 31 May 2015
Vision Sheetmetal Work Ltd
2
Intangible fixed assets
|
30,000
30,000
18,000
6,000
Charge for year
24,000
6,000
12,000
46,278
8,365
54,643
24,157
6,846
Charge for year
31,003
23,640
22,121
Debtors include an amount of £
4050
(
2014
:
£
4050
)
falling due after more than one year
|
2014
2015
5
Creditors due after more than one year
|
12,333
16,000
4 of 4