Registered number:
02398030
ANGLO SCOTTISH EQUIPMENT (SOUTHERN) LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 30 SEPTEMBER 2020
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ANGLO SCOTTISH EQUIPMENT (SOUTHERN) LIMITED
COMPANY INFORMATION
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ANGLO SCOTTISH EQUIPMENT (SOUTHERN) LIMITED
CONTENTS
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Notes to the financial statements
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ANGLO SCOTTISH EQUIPMENT (SOUTHERN) LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF ANGLO SCOTTISH EQUIPMENT (SOUTHERN) LIMITED
FOR THE YEAR ENDED 30 SEPTEMBER 2020
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Anglo Scottish Equipment (Southern) Limited for the year ended 30 September 2020 which comprise the Balance sheet
and the related notes from the Company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made solely to the Board of directors of Anglo Scottish Equipment (Southern) Limited, as a body, in accordance with the terms of our engagement letter dated
22 June 2018. Our work has been undertaken solely
to prepare for your approval the financial statements of Anglo Scottish Equipment (Southern) Limited and state those matters that we have agreed to state to the Board of directors of Anglo Scottish Equipment (Southern) Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Anglo Scottish Equipment (Southern) Limited and its Board of directors, as a body, for our work or for this report.
It is your duty to ensure that Anglo Scottish Equipment (Southern) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Anglo Scottish Equipment (Southern) Limited. You consider that Anglo Scottish Equipment (Southern) Limited is exempt from the statutory audit requirement for the year.
We
have not been instructed to carry out an audit or review of the financial statements of Anglo Scottish Equipment (Southern) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
MA Partners LLP
Chartered Accountants
7 The Close
Norwich
Norfolk
NR1 4DJ
4 June 2021
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ANGLO SCOTTISH EQUIPMENT (SOUTHERN) LIMITED
REGISTERED NUMBER:
02398030
BALANCE SHEET
AS AT
30 SEPTEMBER 2020
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Provisions for liabilities
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ANGLO SCOTTISH EQUIPMENT (SOUTHERN) LIMITED
REGISTERED NUMBER:
02398030
BALANCE SHEET
(CONTINUED)
AS AT
30 SEPTEMBER 2020
The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The
financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by
:
The notes on pages 4 to 7 form part of these financial statements.
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ANGLO SCOTTISH EQUIPMENT (SOUTHERN) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2020
The Company is a private company limited by shares. It is both incorporated and domiciled in England and Wales. The address of its registered office is The Accommodation Centre, Holt Road, Fakenham, Norfolk, NR21 8JH.
The company's principal activity during the year continued to be dealing in and hiring out portable accommodation.
2.
Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
Turnover comprises revenue recognised by the company in respect of the dealing in and hiring out of portable accommodation, exclusive of Value Added Tax and trade discounts. Revenue is recognised at the point of sale or hire.
Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line and reducing balance methods.
Depreciation is provided on the following basis:
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L/Term Leasehold Property
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over the period of the lease
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The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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ANGLO SCOTTISH EQUIPMENT (SOUTHERN) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2020
2.
Accounting policies (continued)
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.
Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.
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The average monthly number of employees, including directors, during the year was
6
(2019 -
7
)
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ANGLO SCOTTISH EQUIPMENT (SOUTHERN) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2020
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L/Term Leasehold Property
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Charge for the year on owned assets
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ANGLO SCOTTISH EQUIPMENT (SOUTHERN) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2020
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Prepayments and accrued income
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Creditors: Amounts falling due within one year
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Other taxation and social security
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Accruals and deferred income
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Transactions with directors
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As at 1 October 2019, the balance owed by the directors to the Company was £2,959.
During the year the
the directors
made net advances of £1,748.
As a result, at 30 September 2020, the balance owed by the directors to the Company totalled
£
4,707
. The loan is repayable on demand, with interest charged at a variable rate not exceeding 2.5%, and is included in debtors due within one year in note 5 of the financial statements
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Related party transactions
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At 1 October 2019, a balance of £3,243 was owed by a company with a controlling shareholder in common.
During the year a loan of £1,200,000 was made and subsequently written off to the company. Additional loans of £1,000,551 were advanced in the year, and remain outstanding at the year end.
As a result at 30 September 2020, a balance of
£1,003,794
was owed by the company.
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