ACCOUNTS - Final Accounts preparation

Registered number: SC360839

A & D (SCOTLAND) LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2018

A & D (SCOTLAND) LIMITED

COMPANY INFORMATION

Directors	Mr Allan Coutts
	Mrs Deborah Coutts


Company secretary	Mrs Deborah Coutts


Registered number	SC360839


Registered office	24 Eastbank
	Brechin
	Angus
	DD9 6AT


Accountants	Findlays
	Chartered Accountants
	Westway Enterprise Centre
	Peasiehill Road
	Arbroath
	Angus
	DD11 2NJ

A & D (SCOTLAND) LIMITED

CONTENTS

	Page
Accountants' Report	1
Balance Sheet	2 - 3
Notes to the Financial Statements	4 - 9

A & D (SCOTLAND) LIMITED

REPORT TO THE DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF A & D (SCOTLAND) LIMITED
FOR THE YEAR ENDED 31 MARCH 2018

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of A & D (Scotland) Limited for the year ended 31 March 2018 which comprise the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants of Scotland, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/technical-resources/framework-for-the-preparation-of-accounts-revised-january-2017.

This report is made solely to the Board of Directors of A & D (Scotland) Limited, as a body, in accordance with the terms of our engagement letter dated 1 November 2018. Our work has been undertaken solely to prepare for your approval the financial statements of A & D (Scotland) Limited and state those matters that we have agreed to state to the Board of Directors of A & D (Scotland) Limited, as a body, in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at http://www.icas.com/technical-resources/framework-for-the-preparation-of-accounts-revised-january-2017. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than A & D (Scotland) Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that A & D (Scotland) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit or loss of A & D (Scotland) Limited. You consider that A & D (Scotland) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of A & D (Scotland) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Findlays

Chartered Accountants

Westway Enterprise Centre

Peasiehill Road

Arbroath

Angus

DD11 2NJ

29 November 2018

Page 1

A & D (SCOTLAND) LIMITED

REGISTERED NUMBER: SC360839

BALANCE SHEET

AS AT 31 MARCH 2018

		2018		2017
Note		£		£

Fixed assets
Tangible assets	4		3,099		1,697
			3,099		1,697
Current assets
Debtors: amounts falling due within one year	5	4,804		11,513
Cash at bank and in hand	6	6,550		7,544
		11,354		19,057
Creditors: amounts falling due within one year	7	(12,676)		(19,881)
Net current liabilities			(1,322)		(824)
Total assets less current liabilities			1,777		873
Provisions for liabilities
Deferred tax		(589)		-
			(589)		-
Net assets			1,188		873

Capital and reserves
Called up share capital	9	100	100
Profit and loss account		1,088	773
		1,188	873

Page 2

A & D (SCOTLAND) LIMITED

REGISTERED NUMBER: SC360839

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2018

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 November 2018.

Mr Allan Coutts

Director

The notes on pages 4 to 9 form part of these financial statements.

Page 3

A & D (SCOTLAND) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

1.	General information

A & D (Scotland) Limited is a private company, limited by shares, incorporated in Scotland within the United Kingdom, (Company No. SC360839). The address of the registered office is given on the company information page of these financial statements.
The financial statements are presented in Sterling, which is the functional currency of the company.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4

A & D (SCOTLAND) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

2.Accounting policies (continued)

2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 5

A & D (SCOTLAND) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

2.Accounting policies (continued)

2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment

25%

straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income and Retained Earnings.

2.6

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.8

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.9

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to the Statement of Income and Retained Earnings in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance Sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

Page 6

A & D (SCOTLAND) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

2.Accounting policies (continued)

2.10

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Employees

The average monthly number of employees, including directors, during the year was 2 (2017 - 2).

4.	Tangible fixed assets

		Office equipment
		£
	Cost or valuation
	At 1 April 2017	5,355
	Additions	3,037
	Disposals	(883)
	At 31 March 2018	7,509
	Depreciation
	At 1 April 2017	3,658
	Charge for the year on owned assets	1,415
	Disposals	(663)
	At 31 March 2018	4,410
	Net book value
	At 31 March 2018	3,099
	At 31 March 2017	1,697

Page 7

A & D (SCOTLAND) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

Debtors

					2018	2017
					£	£


Trade debtors	4,688	10,116
Other debtors	-	1,283
Prepayments and accrued income	116	114
	4,804	11,513

6.	Cash and cash equivalents
		2018	2017
		£	£

Cash at bank and in hand	6,550	7,544
	6,550	7,544

7.	Creditors: Amounts falling due within one year
		2018	2017
		£	£

Corporation tax	10,799	13,731
Other taxation and social security	37	3,244
Other creditors	40	162
Accruals and deferred income	1,800	2,744
	12,676	19,881

8.	Deferred taxation

		2018
		£

	Charged to profit or loss	(589)
	At end of year	(589)

Page 8

A & D (SCOTLAND) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

8.Deferred taxation (continued)

The deferred taxation balance is made up as follows:
	2018	2017
	£	£

	Accelerated capital allowances	(589)	-
		(589)	-

9.	Share capital
		2018	2017
		£	£

Allotted, called up and fully paid

100 (2017 - 100) Ordinary shares of £1.00 each	100	100

Page 9