REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 JUNE 2019 |
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ANDREW KAY & COMPANY (CURLING STONES) |
LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 JUNE 2019 |
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FOR |
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ANDREW KAY & COMPANY (CURLING STONES) |
LIMITED |
ANDREW KAY & COMPANY (CURLING STONES) |
LIMITED (REGISTERED NUMBER: SC033266) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2019 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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ANDREW KAY & COMPANY (CURLING STONES) |
LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 JUNE 2019 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Riversleigh |
9 Kilwinning Road |
Irvine |
Ayrshire |
KA12 8RR |
ANDREW KAY & COMPANY (CURLING STONES) |
LIMITED (REGISTERED NUMBER: SC033266) |
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BALANCE SHEET |
30 JUNE 2019 |
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30.6.19 | 30.6.18 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one year | 8 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Revaluation reserve | 11 |
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Other reserves |
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Retained earnings |
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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. |
ANDREW KAY & COMPANY (CURLING STONES) |
LIMITED (REGISTERED NUMBER: SC033266) |
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BALANCE SHEET - continued |
30 JUNE 2019 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
on its behalf by: |
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ANDREW KAY & COMPANY (CURLING STONES) |
LIMITED (REGISTERED NUMBER: SC033266) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2019 |
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1. | STATUTORY INFORMATION |
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Andrew Kay & Company (Curling Stones) Limited is a
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The company's registered number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Land and buildings - 4% on cost |
Plant and machinery - 15% on reducing balance |
Fixtures and fittings - 15% on reducing balance |
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Government grants |
Grants in respect of capital expenditure are credited to a deferred income account and are released to the profit and |
loss account over the expected useful lives of the relevant assets. |
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Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate. |
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Stocks |
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for |
obsolete and slow moving items. |
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Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in |
bringing stocks to their present location and condition. |
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Fixed asset investments |
Interests in other companies are initially measured at cost and subsequently remeasured at cost less any accumulated |
impairment losses. Investments are assessed for impairment at each reporting date and any impairment losses or |
reversals of impairment losses are recognised immediately in profit or loss. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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ANDREW KAY & COMPANY (CURLING STONES) |
LIMITED (REGISTERED NUMBER: SC033266) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2019 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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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. |
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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. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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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. |
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Going concern |
Following the subsequent events outlined at note 15, the Directors have undertaken a detailed review of the trading |
forecasts and cash flows of the Company, taking into account the working capital position of the Company, their own |
early preventative action, along with the business support packages provided by the UK Government. |
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After making enquiries, the Directors believe that the company has adequate resources to continue in operational |
existence for the foreseeable future. Accordingly the accounts continue to be prepared on the going concern basis. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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ANDREW KAY & COMPANY (CURLING STONES) |
LIMITED (REGISTERED NUMBER: SC033266) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2019 |
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | Plant and | and |
property | machinery | fittings | Totals |
£ | £ | £ | £ |
COST OR VALUATION |
At 1 July 2018 |
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Additions |
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At 30 June 2019 |
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DEPRECIATION |
At 1 July 2018 |
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Charge for year |
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At 30 June 2019 |
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NET BOOK VALUE |
At 30 June 2019 |
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At 30 June 2018 |
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Cost or valuation at 30 June 2019 is represented by: |
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Fixtures |
Freehold | Plant and | and |
property | machinery | fittings | Totals |
£ | £ | £ | £ |
Valuation in 1998 | 36,996 | - | - | 36,996 |
Cost | 28,004 | 175,715 | 10,780 | 214,499 |
65,000 | 175,715 | 10,780 | 251,495 |
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If freehold property had not been revalued it would have been included at the following historical cost: |
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30.6.19 | 30.6.18 |
£ | £ |
Cost | 28,004 | 28,004 |
Aggregate depreciation | 24,644 | 23,524 |
ANDREW KAY & COMPANY (CURLING STONES) |
LIMITED (REGISTERED NUMBER: SC033266) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2019 |
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5. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 1 July 2018 |
and 30 June 2019 |
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NET BOOK VALUE |
At 30 June 2019 |
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At 30 June 2018 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.19 | 30.6.18 |
£ | £ |
Trade debtors |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.19 | 30.6.18 |
£ | £ |
Bank loans and overdrafts |
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Payments on account |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
30.6.19 | 30.6.18 |
£ | £ |
Bank loans |
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9. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
30.6.19 | 30.6.18 |
£ | £ |
Within one year |
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Between one and five years |
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ANDREW KAY & COMPANY (CURLING STONES) |
LIMITED (REGISTERED NUMBER: SC033266) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2019 |
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10. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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30.6.19 | 30.6.18 |
£ | £ |
Bank overdrafts |
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Bank loans |
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Bank overdraft and loans are secured by a standard security over the company's freehold property, together with a |
floating charge over all other assets. |
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11. | RESERVES |
Revaluation |
reserve |
£ |
At 1 July 2018 |
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Release of Revaluation Reserve | (71,077 | ) |
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At 30 June 2019 |
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12. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 30 June 2019 and 30 June 2018: |
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30.6.19 | 30.6.18 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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Interest has been charged at 2.5% on the overdrawn balance. |
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13. | POST BALANCE SHEET EVENTS |
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Since December 2019, the COVID-19 pandemic has adversely impacted the supply and demand of the company's |
products. This represents a non adjusting subsequent event which is likely to have an adverse impact on the revenues |
and profits of the company for the year to 30 June 2020, however it is not possible for this to be fully quantified at |
this stage. |