Abbey Services (Scotland) Ltd - Accounts to registrar

REGISTERED NUMBER: SC214367 (Scotland)

Unaudited Financial Statements for the Year Ended 30 April 2017

for

Abbey Services (Scotland) Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D Ross

Mrs A J Ross

SECRETARY:

D Ross

REGISTERED OFFICE:

McLay, McAlister & McGibbon

145 St Vincent Street

Glasgow

G2 5JF

REGISTERED NUMBER:

SC214367 (Scotland)

ACCOUNTANTS:

McLay, McAlister & McGibbon LLP

Chartered Accountants

145 St Vincent Street

Glasgow

G2 5JF

FIXED ASSETS

Tangible assets

4

95,871

90,917

CURRENT ASSETS

Stocks

6,900

Debtors

5

107,151

130,213

Cash at bank

33,439

55,692

147,490

192,805

CREDITORS

Amounts falling due within one year

6

(164,880

)

(171,191

)

NET CURRENT (LIABILITIES)/ASSETS

(17,390

)

21,614

TOTAL ASSETS LESS CURRENT
LIABILITIES

78,481

112,531

CREDITORS

Amounts falling due after more than one
year

7

(22,107

)

(18,286

)

PROVISIONS FOR LIABILITIES

(18,963

)

(15,014

)

NET ASSETS

37,411

79,231

CAPITAL AND RESERVES

Called up share capital

3

Retained earnings

37,408

79,228

SHAREHOLDERS' FUNDS

37,411

79,231

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 8 August 2017 and were signed on its behalf by:

D Ross - Director

1.	STATUTORY INFORMATION

Abbey Services (Scotland) 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.

Transition to FRS 102

These financial statements for the year ended 30 April 2017 are the first financial statements that comply with

FRS 102 Section 1A small entities. The date of transition is 1 May 2015. There has been no material impact on

the financial statements following this transition.

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.

Plant and machinery etc

-

33% on cost, 25% on reducing balance 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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 May 2016

197,509

Additions

46,819

Disposals

(39,687

)

At 30 April 2017

204,641

DEPRECIATION

At 1 May 2016

106,592

Charge for year

26,982

Eliminated on disposal

(24,804

)

At 30 April 2017

108,770

NET BOOK VALUE

At 30 April 2017

95,871

At 30 April 2016

90,917

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

Plant and

machinery

etc

£

COST

At 1 May 2016

88,606

Additions

46,819

Transfer to ownership

(32,404

)

At 30 April 2017

103,021

DEPRECIATION

At 1 May 2016

39,399

Charge for year

20,591

Transfer to ownership

(18,736

)

At 30 April 2017

41,254

NET BOOK VALUE

At 30 April 2017

61,767

At 30 April 2016

49,207

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.17

30.4.16

£

Trade debtors

95,092

128,981

Other debtors

1,232

Tax

10,827

-

107,151

130,213

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.17

30.4.16

£

Hire purchase contracts

26,811

17,935

Trade creditors

16,707

13,147

Tax

-

12,718

Social security and other taxes

7,015

1,429

VAT

47,830

56,855

Other creditors

4,955

2,197

Directors' current accounts

56,793

61,644

Accrued expenses

4,769

5,266

164,880

171,191

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

30.4.17

30.4.16

£

Hire purchase contracts

22,107

18,286

8.	SECURED DEBTS

The following secured debts are included within creditors:

30.4.17

30.4.16

£

Hire purchase contracts

48,918

36,221

The hire purchase creditor is secured over the asset to which it relates.

9.	RELATED PARTY DISCLOSURES

Included within Other Creditors is a loan from the director of £56,793 (2016: £61,644). This loan is interest free

and is repayable on demand.