Company Registration No. SC249686 (Scotland)
ANGUS BREMNER LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2016
ANGUS BREMNER LTD
CONTENTS
Page
Accountants' report
1
Abbreviated balance sheet
2
Notes to the abbreviated accounts
3
ANGUS BREMNER LTD
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF ANGUS BREMNER LTD FOR THE YEAR ENDED 31 MAY 2016
- 1 -
The following reproduces the text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited abbreviated financial statements set out on pages 2 to 3 have been prepared.
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Angus Bremner Ltd for the year ended 31 May 2016 set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the the Institute of Chartered Accountants of Scotland, we are subject to its ethical and other professional requirements which are detailed at www.icas.org.uk/accountspreparationguidance.
This report is made solely to the Board of Directors of Angus Bremner Ltd, as a body, in accordance with the terms of our engagement letter dated 14 January 2016. Our work has been undertaken solely to prepare for your approval the financial statements of Angus Bremner Ltd and state those matters that we have agreed to state to the Board of Directors of Angus Bremner Ltd, as a body, in this report in accordance with AAF 2/10 as detailed at www.icas.org.uk/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Angus Bremner Ltd and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that Angus Bremner Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Angus Bremner Ltd. You consider that Angus Bremner Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Angus Bremner Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Hogg & Thorburn
29 September 2016
Chartered Accountants
Moat House
14 Gala Park
GALASHIELS
Scottish Borders
TD1 1EX
ANGUS BREMNER LTD
ABBREVIATED BALANCE SHEET
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2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
29,014
35,943
Current assets
Stocks
1,517
8,832
Debtors
11,067
4,382
Cash at bank and in hand
4,558
13,535
17,142
26,749
Creditors: amounts falling due within one year
(18,624)
(25,134)
Net current liabilities/(assets)
(1,482)
1,615
Total assets less current liabilities
27,532
37,558
Provisions for liabilities
(4,944)
(6,141)
22,588
31,417
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
22,488
31,317
Shareholder's funds
22,588
31,417
For the financial year ended 31 May 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 member has 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 for issue on 24 September 2016
Angus Bremner
Director
Company Registration No. SC249686
ANGUS BREMNER LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2016
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1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
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 commercial photography services net of VAT and trade discounts.
commercial photography services
net of VAT and trade discounts.
1.4
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
15% reducing balance
Motor vehicles
25% reducing balance
2
Fixed assets
Tangible assets
£
Cost
At 1 June 2015 & at 31 May 2016
78,442
Depreciation
At 1 June 2015
42,499
Charge for the year
6,929
At 31 May 2016
49,428
Net book value
At 31 May 2016
29,014
At 31 May 2015
35,943
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary Shares of £1 each
100
100