REGISTERED NUMBER: SC300058

A.A. HAGAN LTD.

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2018

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Intangible assets

4

80,000

120,000

Tangible assets

5

22,204

30,499

102,204

150,499

CURRENT ASSETS

Stocks

41,747

36,297

Debtors

6

81,696

62,028

Cash at bank

59,116

109,651

182,559

207,976

CREDITORS

Amounts falling due within one year

7

(104,162

)

(157,255

)

NET CURRENT ASSETS

78,397

50,721

TOTAL ASSETS LESS CURRENT LIABILITIES

180,601

201,220

PROVISIONS FOR LIABILITIES

(3,182

)

(4,716

)

NET ASSETS

177,419

196,504

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

177,319

196,404

177,419

196,504

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 17 December 2018 and were signed on its behalf by:

J A Hagan - Director

1.	STATUTORY INFORMATION

A A Hagan Ltd is a private company, limited by shares, registered in Scotland. The company's registered office

is Hadley, Prieston Road, Bridge Of Weir, Renfrewshire, PA11 3AW.

The presentation currency of the financial statements is Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The 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. There were no material departures from the standard. The financial

statements have been prepared under the historical cost convention.

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax. The company's policy

is to recognise a sale when substantively all the risks and rewards in connection with the goods and services have

been passed to the buyer.

Goodwill

Goodwill, being the amount paid in connection with the aquisition of a business in 2009, is being amortised over

its estimated useful life of 10 years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

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 cost

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Financial instruments

The company only has financial assets and liabilities of a kind which qualify as basic financial instruments. Basic

financial instruments are initially recognised at transaction value and subsequently measured at their settlement

value.

Taxation

Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is

calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

The charge for taxation takes into account taxation deferred as a result of timing differences between the

treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in

respect of all timing differences that have originated but not reversed at the balance sheet date. However,

deferred tax assets are recognised only to the extent that the directors consider it to be more likely than not that

there will be suitable taxable profits from which the future reversal of the underlying timing differences can be

deducted. Deferred taxation is measured on a non-discounted basis at the average tax rates which would apply

when the timing differences are expected to reverse, based on tax rates and laws that have been enacted by the

balance sheet date.

With the exception of changes arising on the initial recognition of a business combination, the tax expense is

presented either in profit or loss, other comprehensive income or statement of changes in equity depending on the

transaction that resulted in the tax expense.

Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.

Operating lease 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 9 (2017 - 9 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2017

and 31 March 2018

400,000

AMORTISATION

At 1 April 2017

280,000

Charge for year

40,000

At 31 March 2018

320,000

NET BOOK VALUE

At 31 March 2018

80,000

At 31 March 2017

120,000

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2017

and 31 March 2018

87,348

DEPRECIATION

At 1 April 2017

56,849

Charge for year

8,295

At 31 March 2018

65,144

NET BOOK VALUE

At 31 March 2018

22,204

At 31 March 2017

30,499

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

72,553

51,805

Other debtors

9,143

10,223

81,696

62,028

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

81,809

59,743

Taxation and social security

19,361

15,866

Other creditors

2,992

81,646

104,162

157,255

8.	RELATED PARTY DISCLOSURES