For the period ended 31 May 2016
Unaudited Abbreviated Report and Financial Statements
Scotland
Registered Number: SC506501
AIS003 Limited
For the period ended 31 May 2016
1
Accountants' Report
2
Balance Sheet
3 to 4
Notes to the Abbreviated Financial Statements
AIS003 Limited
Accountants' Report
For the period ended 31 May 2016
In order to assist you to fulfil your duties under Companies Act
2006
,
we have prepared for your approval the
|
accounts of AIS
003
Limited for the period ended
31
May
2016
which comprise the Profit and Loss Account
,
|
Statement of Recognised Gains and Losses
,
the Balance Sheet and the related notes from the company
'
s
|
accounting records and from information and explanations you have given us
.
|
As a practising firm of the Association of Chartered Certified Accountants
,
we are subject to its ethical and other
|
professional requirements which are detailed at http
://
rulebook
.
accaglobal
.
com
.
|
This report is made solely to the Board of Directors of AIS
003
Limited
,
as a body
,
in accordance with the terms of
|
our engagement letter dated
.
Our work has been undertaken solely to prepare for your approval the accounts of
|
AIS
003
Limited and state those matters that we have agreed to state to the Board of Directors of AIS
003
Limited
,
|
as a body
,
in this report in accordance with the requirements of the Association of Chartered Certified Accountants
|
and as detailed at http
://
www
.
accaglobal
.
com
/
factsheet
163
.
To the fullest extent permitted by law
,
we do not
|
accept or assume responsibility to anyone other than AIS
003
Limited and its Board of Directors as a body for our
|
work or for this report
.
|
It is your duty to ensure that AIS
003
Limited has kept adequate accounting records and to prepare statutory
|
accounts that give a true and fair view of the assets
,
liabilities
,
financial position and profit of AIS
003
Limited
.
You
|
consider that AIS
003
Limited is exempt from the statutory audit requirement for the year
.
|
Connal LTD
Chartered Certified Accountants
1 McKenzie Place
Lionthorn
Falkirk
FK1 5UJ
1 of 4
Notes to the Abbreviated Financial Statements
|
AIS003 Limited
For the period ended 31 May 2016
The financial statements are prepared under the historical cost convention, as modified by the revaluation of certain fixed assets, and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
|
The financial statements have been prepared on a going concern basis. The company's ongoing activities are dependent upon the continued support of the director who has undertaken to provide such support for the foreseeable future. If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.
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Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
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Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
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:
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Plant and Machinery
Fixtures and Fittings
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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AIS003 Limited
For the period ended 31 May 2016
2,217
2,217
425
Charge for period
425
1,792
Allotted called up and fully paid
|
2016
1
Class A share of £
1
.
00
each
|
1
1
4 of 4