REGISTERED NUMBER: SC317475 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 July 2018

for

The Natural Bag Company Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

S R Pritchard

Mrs Pritchard

SECRETARY:

Mrs Pritchard

REGISTERED OFFICE:

181 St Vincent Street

Broughty Ferry

Dundee

DD5 2EX

REGISTERED NUMBER:

SC317475 (Scotland)

ACCOUNTANTS:

MMG Archbold

Chartered Accountants

Chapelshade House

78-84 Bell Street

Dundee

DD1 1RQ

BANKERS:

Bank of Scotland

2 West Marketgait

Dundee

DD1 1QN

FIXED ASSETS

Tangible assets

4

3,809

4,054

CURRENT ASSETS

Stocks

35,061

39,217

Debtors

5

11,420

13,960

Cash at bank and in hand

29,966

17,692

76,447

70,869

CREDITORS

Amounts falling due within one year

6

69,475

61,318

NET CURRENT ASSETS

6,972

9,551

TOTAL ASSETS LESS CURRENT LIABILITIES

10,781

13,605

PROVISIONS FOR LIABILITIES

685

723

NET ASSETS

10,096

12,882

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

10,095

12,881

SHAREHOLDERS' FUNDS

10,096

12,882

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 24 April 2019 and were signed on its behalf by:

S R Pritchard - Director

1.	STATUTORY INFORMATION

The Natural Bag Company 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" 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.

Plant and machinery etc

-

20% on reducing balance and 10% 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.

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.

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 3 (2017 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 August 2017

14,251

Additions

381

At 31 July 2018

14,632

DEPRECIATION

At 1 August 2017

10,197

Charge for year

626

At 31 July 2018

10,823

NET BOOK VALUE

At 31 July 2018

3,809

At 31 July 2017

4,054

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

9,468

11,937

Other debtors

1,952

2,023

11,420

13,960

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

19,679

17,920

Taxation and social security

6,191

4,741

Other creditors

43,605

38,657

69,475

61,318