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REGISTERED NUMBER: SC299016 (Scotland)















ABERCORN DAIRIES LTD.

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2018






ABERCORN DAIRIES LTD. (REGISTERED NUMBER: SC299016)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2018










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ABERCORN DAIRIES LTD.

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2018







DIRECTORS: G Naismith
J Fraser



SECRETARY: G Naismith



REGISTERED OFFICE: 11 Portland Road
Kilmarnock
Ayrshire
KA1 2BT



BUSINESS ADDRESS: Unit 22
Abercorn Street
Paisley
Renfrewshire
PA3 4AY



REGISTERED NUMBER: SC299016 (Scotland)



ACCOUNTANTS: JRD Partnership Ltd
Chartered Accountants
11 Portland Road
Kilmarnock
Ayrshire
KA1 2BT



BANKERS: Bank of Scotland
The Cross
Paisley
PA1 1DB

ABERCORN DAIRIES LTD. (REGISTERED NUMBER: SC299016)

BALANCE SHEET
31ST MARCH 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 21,971 26,873
Tangible assets 5 73,857 73,473
95,828 100,346

CURRENT ASSETS
Stocks 4,200 5,186
Debtors 6 56,148 55,529
Cash at bank 33,111 13,760
93,459 74,475
CREDITORS
Amounts falling due within one year 7 121,200 109,779
NET CURRENT LIABILITIES (27,741 ) (35,304 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

68,087

65,042

CREDITORS
Amounts falling due after more than one
year

8

(21,920

)

(28,437

)

PROVISIONS FOR LIABILITIES (14,033 ) (14,695 )
NET ASSETS 32,134 21,910

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 32,132 21,908
SHAREHOLDERS' FUNDS 32,134 21,910

ABERCORN DAIRIES LTD. (REGISTERED NUMBER: SC299016)

BALANCE SHEET - continued
31ST MARCH 2018


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 18th June 2018 and were signed on its behalf by:




G Naismith - Director



J Fraser - Director


ABERCORN DAIRIES LTD. (REGISTERED NUMBER: SC299016)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2018


1. STATUTORY INFORMATION

Abercorn Dairies Ltd. is a private company, limited by shares , registered in Scotland. The company's registered
number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,
value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of businesses from third parties, is being
amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost
less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on cost and 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow
moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to
the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or
substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance
sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the
timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they
will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

ABERCORN DAIRIES LTD. (REGISTERED NUMBER: SC299016)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2018


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held
under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases
are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element
of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the
lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2017 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st April 2017 127,644
Additions 2,070
At 31st March 2018 129,714
AMORTISATION
At 1st April 2017 100,771
Charge for year 6,972
At 31st March 2018 107,743
NET BOOK VALUE
At 31st March 2018 21,971
At 31st March 2017 26,873

ABERCORN DAIRIES LTD. (REGISTERED NUMBER: SC299016)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2018


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st April 2017 165,922
Additions 24,124
At 31st March 2018 190,046
DEPRECIATION
At 1st April 2017 92,449
Charge for year 23,740
At 31st March 2018 116,189
NET BOOK VALUE
At 31st March 2018 73,857
At 31st March 2017 73,473

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1st April 2017 61,670
Additions 23,750
At 31st March 2018 85,420
DEPRECIATION
At 1st April 2017 20,629
Charge for year 16,198
At 31st March 2018 36,827
NET BOOK VALUE
At 31st March 2018 48,593
At 31st March 2017 41,041

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Trade debtors 33,060 30,510
Other debtors 23,088 25,019
56,148 55,529

ABERCORN DAIRIES LTD. (REGISTERED NUMBER: SC299016)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2018


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Hire purchase contracts 25,490 18,223
Trade creditors 66,771 31,386
Taxation and social security 10,101 9,735
Other creditors 18,838 50,435
121,200 109,779

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2018 2017
£    £   
Hire purchase contracts 21,920 28,437

9. RELATED PARTY DISCLOSURES

During the year, total dividends of £10,000 (2017 - £10,000) were paid to the directors .

The directors have advanced the company an interest free loan of £16,416 (2017 - £48,194). There are no fixed
terms of repayment.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling parties are G Naismith and J Fraser.