Registered Number SC491766
A & E YOUNG LIMITED
Abbreviated Accounts
30 November 2016
Notes | 2016 | 2015 | |
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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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Creditors: amounts falling due after more than one year |
( |
( |
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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
been prepared under the historical cost convention and in accordance with the Financial Reporting
Standard for Smaller Entities (effective January 2015).
Turnover policy
during the year, exclusive of Value Added Tax and trade discounts.
Tangible assets depreciation policy
calculated to write off the cost of fixed assets, less their estimated residual value, over their
expected useful lives on the following bases:
Plant and machinery - 12.5% straight line
Motor vehicles - 25% reducing balance
Fixtures and fittings - 12.5% straight line
Other accounting policies
assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their
useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases
are those where substantially all of the benefits and risks of ownership are assumed by the
company. Obligations under such agreements are included in creditors net of the finance charge
allocated to future periods. The finance element of the rental payment is charged to the Profit and
loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in
each period.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for
obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of
fixed and variable overheads.
Deferred taxation
Full provision is made for deferred tax assets and liabilities arising from all timing differences
between the recognition of gains and losses in the financial statements and recognition in the tax
computation.
A net deferred tax asset is recognised only if it can be regarded as 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 assets and liabilities are calculated at the tax rates expected to be effective at the time
the timing differences are expected to reverse.
Deferred tax assets and liabilities are not discounted.
£ | |
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Cost | |
At 1 December 2015 |
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Additions |
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Disposals |
( |
Revaluations |
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Transfers |
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At 30 November 2016 |
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Depreciation | |
At 1 December 2015 |
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Charge for the year |
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On disposals |
( |
At 30 November 2016 |
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Net book values | |
At 30 November 2016 | 281,053 |
At 30 November 2015 | 264,992 |
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 December 2015: | £ |
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Advances or credits made: | £ |
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Advances or credits repaid: | £ |
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Balance at 30 November 2016: | £ |
Name of director receiving advance or credit: |
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Description of the transaction: |
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Balance at 1 December 2015: | £ |
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Advances or credits made: | £ |
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Advances or credits repaid: | £ |
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Balance at 30 November 2016: | £ |