REGISTERED NUMBER: SC238514 (Scotland)

Unaudited Financial Statements for the Year Ended 31 December 2017

for

A.b. Specialist Hose Supplies Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A Bannerman

A Bones

SECRETARY:

A Bannerman

REGISTERED OFFICE:

Unit 28

Hillhouse Managed Workshops

37 Argyle Crescent

Hamilton

ML3 9BQ

REGISTERED NUMBER:

SC238514 (Scotland)

ACCOUNTANTS:

R A Scott Wheelan & Co.

Chartered Accountants

13 Fitzroy Place

Glasgow

G3 7RW

FIXED ASSETS

Tangible assets

4

27,245

42,292

CURRENT ASSETS

Stocks

1,750

1,822

Debtors

5

175,331

137,995

Cash at bank and in hand

98,610

152,877

275,691

292,694

CREDITORS

Amounts falling due within one year

6

217,334

271,086

NET CURRENT ASSETS

58,357

21,608

TOTAL ASSETS LESS CURRENT LIABILITIES

85,602

63,900

CREDITORS

Amounts falling due after more than one year

7

(10,635

)

(18,824

)

PROVISIONS FOR LIABILITIES

(5,177

)

(8,458

)

NET ASSETS

69,790

36,618

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

69,788

36,616

69,790

36,618

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 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 26 September 2018 and were signed on its behalf by:

A Bannerman - Director

1.	STATUTORY INFORMATION

A.b. Specialist Hose Supplies 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

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.

Computer equipment

-

25% on cost

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

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2016 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2017

and 31 December 2017

60,190

2,930

63,120

DEPRECIATION

At 1 January 2017

17,898

2,930

20,828

Charge for year

15,047

-

15,047

At 31 December 2017

32,945

2,930

35,875

NET BOOK VALUE

At 31 December 2017

27,245

-

27,245

At 31 December 2016

42,292

-

42,292

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

Motor

vehicles

£

COST

At 1 January 2017

and 31 December 2017

48,790

DEPRECIATION

At 1 January 2017

12,198

Charge for year

12,197

At 31 December 2017

24,395

NET BOOK VALUE

At 31 December 2017

24,395

At 31 December 2016

36,592

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

175,331

137,995

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Hire purchase contracts

13,703

13,703

Trade creditors

141,085

202,219

Taxation and social security

41,556

32,702

Other creditors

20,990

22,462

217,334

271,086

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Hire purchase contracts

10,635

18,824