Company Registration No. SC321999 (Scotland)
NCD Scotland Ltd.
Abbreviated financial statements
for the year ended 31 August 2015
NCD Scotland Ltd.
Contents
Page
Abbreviated balance sheet
1
Notes to the abbreviated financial statements
2
NCD Scotland Ltd.
Abbreviated balance sheet
as at 31 August 2015
- 1 -
2015
2014
Notes
£
£
£
£
Current assets
Stocks
-
631
Debtors
909
226
909
857
Creditors: amounts falling due within one year
(33,828)
(11,048)
Total assets less current liabilities
(32,919)
(10,191)
Capital and reserves
Called up share capital
2
2
2
Profit and loss account
(32,921)
(10,193)
Shareholders' funds
(32,919)
(10,191)
For the financial year ended 31 August 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their 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 May 2016
Mr S Niven
Director
Company Registration No. SC321999
NCD Scotland Ltd.
Notes to the abbreviated financial statements
for the year ended 31 August 2015
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for at least the next twelve months. The directors have reviewed the current financial position of the company and given due consideration to the potential opportunities and risks that are likely to arise over the next twelve months. In their opinion, the directors feel that the going concern basis is appropriate for the preparation of these financial statements. The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
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 goods, excluding value added tax.
1.4
Stock
Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
1.5
Taxation
The tax expense represents the corporation tax charge for the year.
The tax currently payable is based on taxable profit for the year. The company's liability for current tax is calculated using the tax rates that have been enacted or substantively enacted by the balance sheet date
.
2
Share capital
2015
2014
£
£
Allotted, called up and fully paid
2 Ordinary shares of £1 each
2
2