Company Registration No. SC289245 (Scotland)
SDC LTD.
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2015
SDC LTD.
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
SDC LTD.
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2015
31 December 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
17,013
20,218
Current assets
Debtors
350,413
326,929
Cash at bank and in hand
181,142
135,564
531,555
462,493
Creditors: amounts falling due within one year
(122,752)
(134,218)
Net current assets
408,803
328,275
Total assets less current liabilities
425,816
348,493
Provisions for liabilities
(1,511)
(1,929)
424,305
346,564
Capital and reserves
Called up share capital
3
1
1
Profit and loss account
424,304
346,563
Shareholders' funds
424,305
346,564
For the financial year ended 31 December 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have 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 18 August 2016
Mr P Thomson
Director
Company Registration No. SC289245
SDC LTD.
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2015
- 2 -
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 net invoiced sales of services, excluding value added tax.
net invoiced sales of services, excluding value added tax.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets other than freehold land 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:
Property improvements
20% straight line
Computer equipment
33% straight line
Fixtures, fittings & equipment
25% reducing balance
Motor vehicles
25% reducing balance
1.5
Leasing
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
1.6
Pensions
The company operates a defined contribution pension scheme, Contributions payable to the company's pension scheme are charged to the profit and loss account in the period to which they relate.
1.7
Deferred taxation
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 that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date.
A net deferred tax asset is regarded as recoverable and therefore recognised only when, on the basis of all available evidence, it can be regarded as more likely than not that there will be suitable taxable profits against which to recover carried forward tax losses and from which the future reversal of underlying timing differences can be deducted.
Deferred tax is measured at the average tax rates that are expected to apply in the periods in which the timing differences are expected to reverse, based on the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax is measured on a non-discounted basis.
SDC LTD.
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2015
- 3 -
2
Fixed assets
Tangible assets
£
Cost
At 1 January 2015
73,138
Additions
4,267
At 31 December 2015
77,405
Depreciation
At 1 January 2015
52,920
Charge for the year
7,472
At 31 December 2015
60,392
Net book value
At 31 December 2015
17,013
At 31 December 2014
20,218
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
1 ordinary share of £1 each
1
1
4
Transactions with directors
Included within other creditors is an amount of £643 due to Mr P Thomson (2014 - £16,288), director of the company. No fixed interest rates or repayment terms apply.