REGISTERED NUMBER: |
Financial Statements For The Year Ended 31 August 2017 |
for |
Abba Sealants Limited |
REGISTERED NUMBER: |
Financial Statements For The Year Ended 31 August 2017 |
for |
Abba Sealants Limited |
Abba Sealants Limited (Registered number: SC068218) |
Contents of the Financial Statements |
For The Year Ended 31 August 2017 |
Page |
Company Information | 1 |
Abridged Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
Abba Sealants Limited |
Company Information |
For The Year Ended 31 August 2017 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Regent Court |
70 West Regent Street |
Glasgow |
G2 2QZ |
Abba Sealants Limited (Registered number: SC068218) |
Abridged Statement of Financial Position |
31 August 2017 |
2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
Abba Sealants Limited (Registered number: SC068218) |
Abridged Statement of Financial Position - continued |
31 August 2017 |
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 |
Abba Sealants Limited (Registered number: SC068218) |
Notes to the Financial Statements |
For The Year Ended 31 August 2017 |
1. | STATUTORY INFORMATION |
Abba Sealants Limited is a |
number and registered office address can be found on the Company Information page. |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents net invoiced sales of services, excluding value added tax. Turnover is recognised when |
services are performed. |
Tangible fixed assets |
Plant and machinery | - |
Motor vehicles | - |
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 statement of financial position date. |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
statement of financial position 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. |
Abba Sealants Limited (Registered number: SC068218) |
Notes to the Financial Statements - continued |
For The Year Ended 31 August 2017 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 September 2016 |
and 31 August 2017 |
DEPRECIATION |
At 1 September 2016 |
Charge for year |
At 31 August 2017 |
NET BOOK VALUE |
At 31 August 2017 |
At 31 August 2016 |
5. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the years ended 31 August 2017 and |
31 August 2016: |
2017 | 2016 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
6. | RELATED PARTY DISCLOSURES |
A.P.C.S. (Scotland) Ltd |
A company in which J McShane and Mrs I McShane are shareholders |
2017 | 2016 |
£ | £ |
Amount due (to)/from related party at the balance sheet date | (4,085 | ) | 330 |
7. | ULTIMATE CONTROLLING PARTY |
The ultimate parent company is A.P.C.S. (Scotland) Limited, a company registered in Scotland. A.P.C.S. |
(Scotland) Limited's registered office is 12 Hanson Street, Glasgow, G31 2JW. The principle place of business is |
12 Hanson Street, Glasgow, G31 2JW. |
Abba Sealants Limited (Registered number: SC068218) |
Notes to the Financial Statements - continued |
For The Year Ended 31 August 2017 |
8. | FIRST YEAR ADOPTION |
The company has adopted FRS 102 section 1A for the year ended 31 August 2017. There were no restatements |
required to comparative figures. |