REGISTERED NUMBER: SC086332 (Scotland)

Unaudited Financial Statements for the Year Ended 31 December 2017

for

A & M Macrete Sales Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G H Bell

Mrs R J Bell

SECRETARY:

Mrs R J Bell

REGISTERED OFFICE:

Newmill Farm

Campsie Road

Milton of Campsie

Glasgow

G66 8EH

REGISTERED NUMBER:

SC086332 (Scotland)

ACCOUNTANTS:

Bell Barr & Company

Chartered Accountants

2 Stewart Street

Milngavie

Glasgow

G62 6BW

FIXED ASSETS

Tangible assets

4

209,300

130,730

CURRENT ASSETS

Stocks

2,502

1,727

Debtors

5

223,518

226,593

Cash at bank

75,393

195,716

301,413

424,036

CREDITORS

Amounts falling due within one year

6

313,628

374,774

NET CURRENT (LIABILITIES)/ASSETS

(12,215

)

49,262

TOTAL ASSETS LESS CURRENT LIABILITIES

197,085

179,992

CREDITORS

Amounts falling due after more than one year

7

(79,933

)

(45,032

)

PROVISIONS FOR LIABILITIES

(39,767

)

(26,146

)

NET ASSETS

77,385

108,814

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

77,285

108,714

SHAREHOLDERS' FUNDS

77,385

108,814

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

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

The financial statements were approved by the Board of Directors on 13 July 2018 and were signed on its behalf by:

G H Bell - Director

1.	STATUTORY INFORMATION

A & M Macrete Sales 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.

The directors have reviewed the company's operating costs for the next twelve months, and the sources of funds available,

and are satisfied that the company is a going concern.

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

-

25% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% 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.

Financial instruments

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

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

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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

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.

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.

Cash at bank

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or

less from the date of acquisition or opening of the account.

3.

EMPLOYEES

The average number of employees during the year was 7 (2016 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2017

248,397

5,531

122,104

3,371

379,403

Additions

107,774

-

38,800

733

147,307

Disposals

(68,000

)

-

-

-

(68,000

)

At 31 December 2017

288,171

5,531

160,904

4,104

458,710

DEPRECIATION

At 1 January 2017

150,883

5,303

89,715

2,772

248,673

Charge for year

28,734

34

17,798

439

47,005

Eliminated on disposal

(46,268

)

-

-

-

(46,268

)

At 31 December 2017

133,349

5,337

107,513

3,211

249,410

NET BOOK VALUE

At 31 December 2017

154,822

194

53,391

893

209,300

At 31 December 2016

97,514

228

32,389

599

130,730

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Trade debtors

215,236

226,450

Other debtors

8,282

143

223,518

226,593

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Hire purchase contracts (see note 8)

55,822

49,720

Trade creditors

163,833

182,601

Taxation and social security

10,604

66,290

Other creditors

83,369

76,163

313,628

374,774

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.17

31.12.16

£

£

Hire purchase contracts (see note 8)

79,933

45,032

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

31.12.17

31.12.16

£

£

Net obligations repayable:

Within one year

55,822

49,720

Between one and five years

79,933

45,032

135,755

94,752

Non-cancellable operating

leases

31.12.17

31.12.16

£

£

Within one year

4,657

4,125

Between one and five years

4,269

7,905

8,926

12,030