REGISTERED NUMBER: SC156224 (Scotland)

Unaudited Financial Statements for the Year Ended 31st March 2017

for

A. & B. Clement Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

5

Report of the Accountants

6

DIRECTOR:

Mrs A Clement

SECRETARY:

Mrs A Clement

REGISTERED OFFICE:

c/o Farries Kirk & McVean

Dumfries Enterprise Park

Heathhall

Dumfries

Dumfriesshire

DG1 1EN

REGISTERED NUMBER:

SC156224 (Scotland)

ACCOUNTANTS:

Farries Kirk & McVean

Dumfries Enterprise Park

Heathhall

Dumfries

DUMFRIESSHIRE

DG1 3SJ

FIXED ASSETS

Tangible assets

3

15

15

CURRENT ASSETS

Debtors

4

-

504

Cash at bank

6,035

5,542

6,035

6,046

CREDITORS

Amounts falling due within one year

5

(38,217

)

(36,556

)

NET CURRENT LIABILITIES

(32,182

)

(30,510

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(32,167

)

(30,495

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(32,267

)

(30,595

)

SHAREHOLDERS' FUNDS

(32,167

)

(30,495

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 15th December 2017 and were signed by:

Mrs A Clement - Director

1.	STATUTORY INFORMATION

A. & B. Clement 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.

The trading address of the company is 193/4 Colinton Road, Edinburgh, EH14 1BJ.

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 represents net retail sales of Scottish goods, excluding value added tax.

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

-

15% on reducing balance

Amounts written off each asset over the estimated useful life represent cost less residual value.

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.

Financial instruments

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short term highly liquid investments that are

readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for the sale of goods and services performed in the ordinary course of

business.

Trade debtors are recognised initially at the transaction price and represent the full value of the goods and services charged

to customers, including any amounts charged on for third parties.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from

suppliers.

Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the

reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an

unconditional right to defer settlement for at least twelve months after the reporting date they are presented as non current

liabilities.

Borrowings

Interest bearing borrowings are initially recorded at fair value, net of transaction costs. Interest bearing borrowings are

subsequently carried at amortised cost, with the difference between the proceeds, net of transactions costs, and the amount

due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

3.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st April 2016

and 31st March 2017

400

DEPRECIATION

At 1st April 2016

and 31st March 2017

385

NET BOOK VALUE

At 31st March 2017

15

At 31st March 2016

15

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

-

504

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Other creditors

38,217

36,556

6.	RELATED PARTY DISCLOSURES

Mrs A Clement

A director of the company.

The company operates a director's current account with Mrs Clement. As at 31st March 2017 the company owed funds of

£37,742 (2016 - £36,082). This sum is interest free and repayable on demand.

7.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mrs A Clement.

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited

financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet.

Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not

required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31st March 2017 set out on pages three to seven and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Farries Kirk & McVean

Dumfries Enterprise Park

Heathhall

Dumfries

DUMFRIESSHIRE

DG1 3SJ

15th December 2017