REGISTERED NUMBER: SC068875 (Scotland)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2017

FOR

A & E BROWN (PLUMBERS MERCHANTS) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

C A Brown

REGISTERED OFFICE:

1320 Springburn Road

Glasgow

G21 1UT

REGISTERED NUMBER:

SC068875 (Scotland)

FIXED ASSETS

Tangible assets

4

44,546

61,898

CURRENT ASSETS

Stocks

12,300

15,210

Debtors

5

206,184

171,121

Cash at bank and in hand

101,339

80,353

319,823

266,684

CREDITORS

Amounts falling due within one year

6

175,495

132,468

NET CURRENT ASSETS

144,328

134,216

TOTAL ASSETS LESS CURRENT LIABILITIES

188,874

196,114

CAPITAL AND RESERVES

Called up share capital

3,750

3,750

Capital redemption reserve

6,250

6,250

Retained earnings

178,874

186,114

SHAREHOLDERS' FUNDS

188,874

196,114

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 24 October 2017 and were signed by:

C A Brown - Director

1.	STATUTORY INFORMATION

A & E Brown (Plumbers Merchants) 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% 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.

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

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.

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 4 .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 April 2016

35,847

113,448

149,295

Additions

1,898

83,367

85,265

Disposals

-

(132,505

)

(132,505

)

At 31 March 2017

37,745

64,310

102,055

DEPRECIATION

At 1 April 2016

31,287

56,110

87,397

Charge for year

969

19,889

20,858

Eliminated on disposal

-

(50,746

)

(50,746

)

At 31 March 2017

32,256

25,253

57,509

NET BOOK VALUE

At 31 March 2017

5,489

39,057

44,546

At 31 March 2016

4,560

57,338

61,898

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 April 2016

57,180

Transfer to ownership

(57,180

)

At 31 March 2017

-

DEPRECIATION

At 1 April 2016

25,016

Transfer to ownership

(25,016

)

At 31 March 2017

-

NET BOOK VALUE

At 31 March 2017

-

At 31 March 2016

32,164

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

148,145

106,673

Other debtors

58,039

64,448

206,184

171,121

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

21,782

8,574

Hire purchase contracts

-

5,000

Trade creditors

114,378

88,696

Taxation and social security

31,016

22,500

Other creditors

8,319

7,698

175,495

132,468

7.	RELATED PARTY DISCLOSURES

During the year, total dividends of £45,300 (2016 - £46,900) were paid to the director .