REGISTERED NUMBER: SC266814 (Scotland)

Financial Statements for the Year Ended 31 October 2017

for

A & R Finnie Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

R A Finnie

SECRETARY:

Mrs A Finnie

REGISTERED OFFICE:

Cairnfield

14 School Road

Balmullo

St. Andrews

Fife

KY16 0BD

REGISTERED NUMBER:

SC266814 (Scotland)

ACCOUNTANTS:

Monteaths

Cairnfield

14 School Road

Balmullo

St Andrews

Fife

KY16 0BD

FIXED ASSETS

Tangible assets

4

440,554

387,765

CURRENT ASSETS

Debtors

5

454,834

353,031

Cash at bank

222,778

245,270

677,612

598,301

CREDITORS

Amounts falling due within one year

6

514,450

493,355

NET CURRENT ASSETS

163,162

104,946

TOTAL ASSETS LESS CURRENT LIABILITIES

603,716

492,711

CREDITORS

Amounts falling due after more than one year

7

(196,554

)

(156,717

)

PROVISIONS FOR LIABILITIES

(75,533

)

(64,130

)

NET ASSETS

331,629

271,864

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

330,629

270,864

331,629

271,864

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.

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 9 March 2018 and were signed by:

R A Finnie - Director

1.	STATUTORY INFORMATION

A & R Finnie 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.

Plant and machinery etc

-

33% on cost, 25% on cost and 20% on cost

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 12 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 November 2016

972,036

Additions

269,963

Disposals

(201,305

)

At 31 October 2017

1,040,694

DEPRECIATION

At 1 November 2016

584,271

Charge for year

175,715

Eliminated on disposal

(159,846

)

At 31 October 2017

600,140

NET BOOK VALUE

At 31 October 2017

440,554

At 31 October 2016

387,765

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.17

31.10.16

£

£

Trade debtors

454,764

352,961

Other debtors

70

70

454,834

353,031

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.17

31.10.16

£

£

Hire purchase contracts

126,191

113,751

Trade creditors

342,746

330,377

Taxation and social security

40,269

46,702

Other creditors

5,244

2,525

514,450

493,355

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.10.17

31.10.16

£

£

Hire purchase contracts

196,554

156,717