REGISTERED NUMBER: SC212427 (Scotland)

Unaudited Financial Statements for the Year Ended 31 October 2017

for

A A Macdonald Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A A Macdonald

SECRETARY:

Mrs M Macdonald

REGISTERED OFFICE:

Mackay & Co

Main Street

Golspie

Sutherland

KW10 6RH

REGISTERED NUMBER:

SC212427 (Scotland)

ACCOUNTANTS:

Mackay & Co

Chartered Accountants

Main Street

Golspie

Sutherland

KW10 6RH

FIXED ASSETS

Intangible assets

4

24,600

36,800

Tangible assets

5

619,832

633,025

644,432

669,825

CURRENT ASSETS

Stocks

65,901

61,027

Debtors

30,365

-

Cash at bank and in hand

31,853

37,582

128,119

98,609

CREDITORS

Amounts falling due within one year

160,659

139,336

NET CURRENT LIABILITIES

(32,540

)

(40,727

)

TOTAL ASSETS LESS CURRENT LIABILITIES

611,892

629,098

CREDITORS

Amounts falling due after more than one year

6

322,297

338,930

NET ASSETS

289,595

290,168

CAPITAL AND RESERVES

Called up share capital

100

100

Revaluation reserve

8

287,400

287,400

Retained earnings

8

2,095

2,668

SHAREHOLDERS' FUNDS

289,595

290,168

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 October 2017 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the director on 5 July 2018 and were signed by:

A A Macdonald - Director

1.	STATUTORY INFORMATION

A A Macdonald Limited 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 as modified by the revaluation of certain assets.

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 a business in 2000, 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.

Land and buildings

-

Straight line over 50 years and at varying rates on cost

Plant and machinery etc

-

25% on reducing balance, 20% on reducing balance and at variable rates on reducing balance

Where retail stores are acquired as trading entities, the cost of the land and buildings

includes an element of trading potential at the date of purchase. Freehold and leasehold

retail stores are carried at valuation on the basis of each being a fully equipped entity

inclusive of fixtures and fittings and appropriate licenses and having regard to the trading

potential of each store. Depreciation is provided only where a material reduction in value is

considered probable at the end of the period of likely occupation. Where any impairment in

value is identified, provision is made through the profit and loss account.

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.

Hire purchase and leasing commitments

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 24 .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 November 2016

and 31 October 2017

122,000

AMORTISATION

At 1 November 2016

85,200

Amortisation for year

12,200

At 31 October 2017

97,400

NET BOOK VALUE

At 31 October 2017

24,600

At 31 October 2016

36,800

5.	TANGIBLE FIXED ASSETS

Totals

£

COST OR VALUATION

At 1 November 2016

778,323

Reclassification/transfer

(15,681

)

At 31 October 2017

762,642

DEPRECIATION

At 1 November 2016

145,298

Charge for year

13,193

Reclassification/transfer

(15,681

)

At 31 October 2017

142,810

NET BOOK VALUE

At 31 October 2017

619,832

At 31 October 2016

633,025

The director revalued retail stores on an existing use basis which includes an element of

trading potential that attaches to the business but includes no value for goodwill.

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

31.10.17

31.10.16

£

£

Repayable by instalments

Bank loans more 5 yr by instal

255,633

281,730

7.	SECURED DEBTS

The following secured debts are included within creditors:

31.10.17

31.10.16

£

£

Bank overdrafts

6,155

6,406

Bank loans

338,963

-

345,118

6,406

The bank loan is secured by a floating charge and standard security over the company's

assets.

8.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

£

£

At 1 November 2016

2,668

287,400

290,068

Profit for the year

26,427

26,427

Dividends

(27,000

)

(27,000

)

At 31 October 2017

2,095

287,400

289,495

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended

31 October 2017 and 31 October 2016:

31.10.17

31.10.16

£

£

A A Macdonald

Balance outstanding at start of year

(920

)

20,317

Amounts advanced

66,283

22,263

Amounts repaid

(57,009

)

(43,500

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

8,354

(920

)

10.	ULTIMATE CONTROLLING PARTY

The controlling party is A A Macdonald.