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Unaudited Financial Statements for the Year Ended 31 October 2018 |
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Ecosse Doors Ltd. |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 October 2018 |
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for |
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Ecosse Doors Ltd. |
Ecosse Doors Ltd. (Registered number: SC173852) |
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Contents of the Financial Statements |
for the Year Ended 31 October 2018 |
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Page |
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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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Ecosse Doors Ltd. |
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Company Information |
for the Year Ended 31 October 2018 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
25 Sandyford Place |
Glasgow |
G3 7NG |
Ecosse Doors Ltd. (Registered number: SC173852) |
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Balance Sheet |
31 October 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stock |
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Debtors | 5 |
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Cash in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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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 |
7 |
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( |
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PROVISIONS FOR LIABILITIES | 9 | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
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ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the
Companies Act 2006 and |
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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. |
Ecosse Doors Ltd. (Registered number: SC173852) |
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Balance Sheet - continued |
31 October 2018 |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the Board of Directors on
behalf by: |
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Ecosse Doors Ltd. (Registered number: SC173852) |
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Notes to the Financial Statements |
for the Year Ended 31 October 2018 |
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1. | STATUTORY INFORMATION |
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Ecosse Doors Ltd. is a
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registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents net invoiced sales of goods, excluding value added tax and adjusted for work in |
progress. |
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Tangible fixed assets |
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Plant and machinery | - |
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Fittings and equipment | - |
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Motor vehicles | - |
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Stock and work in progress |
Stock 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. Cost includes attributable overheads where |
appropriate. |
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Financial instruments |
Basic financial instruments, including debtors and creditors with no stated interest rate and receivable |
or payable within one year, are recorded at transaction price. Any losses arising from impairment are |
recognised in the profit and loss account in administrative expenses. |
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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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Ecosse Doors Ltd. (Registered number: SC173852) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 October 2018 |
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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 |
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. |
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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. |
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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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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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Ecosse Doors Ltd. (Registered number: SC173852) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 October 2018 |
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4. | TANGIBLE FIXED ASSETS |
Fittings |
Plant and | and | Motor |
machinery | equipment | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 1 November 2017 |
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Additions |
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At 31 October 2018 |
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DEPRECIATION |
At 1 November 2017 |
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Charge for year |
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At 31 October 2018 |
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NET BOOK VALUE |
At 31 October 2018 |
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At 31 October 2017 |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Plant and | Motor |
machinery | vehicles | Totals |
£ | £ | £ |
COST |
At 1 November 2017 |
and 31 October 2018 |
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DEPRECIATION |
At 1 November 2017 |
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Charge for year |
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At 31 October 2018 |
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NET BOOK VALUE |
At 31 October 2018 |
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At 31 October 2017 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
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Other debtors |
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Ecosse Doors Ltd. (Registered number: SC173852) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 October 2018 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Bank loans and overdrafts |
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Hire purchase contracts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR |
2018 | 2017 |
£ | £ |
Hire purchase contracts |
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8. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2018 | 2017 |
£ | £ |
Bank overdrafts |
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A bond and floating charge is held over the assets of the company. |
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9. | PROVISIONS FOR LIABILITIES |
2018 | 2017 |
£ | £ |
Deferred tax | 19,948 | 23,707 |
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Deferred |
tax |
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Balance at 1 November 2017 |
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Credit to Income Statement during year | ( |
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Balance at 31 October 2018 |
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The deferred taxation provision relates solely to timing differences arising from accelerated capital |
allowances. The provision is not discounted. |
Ecosse Doors Ltd. (Registered number: SC173852) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 October 2018 |
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10. | RELATED PARTY DISCLOSURES |
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the company trades on normal commercial terms.The company had sales to A McIntyre Joinery Ltd of £18,978 (2017 £7,131) and purchases of £241,379 (2017 £246,047). The amount due to A McIntyre Joinery Ltd at the year end amounted to £41,346 (2017 £18,842). |
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company trades on normal commercial terms.The company had sales to AMI Co ntracts Ltd during the year of £160 (2017 £917) and purchases from AMI Contracts Ltd of £5,250 ( 2017 £5,000). The amount due to AMI Contracts Ltd at the year end amounted to £11,938 (2017 £8,247). |
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The company occupies premises owned by A McIntyre Joinery Ltd Self Administered Pension |
Scheme. Rent and charges of £40,296 (2017 £40,266) was charged for the year. Insurance and |
maintenance paid by Ecosse Doors Ltd and charged to A McIntyre Joinery Ltd Self Administered |
Pension Scheme amounted to £7,306 (2017 £8,186).The amount owed by A McIntyre Joinery Limited |
Self Administered Pension Scheme at the year end amounted to £1,668 (2017 - owed to A McIntyre |
Joinery Limited Self Administered Pension Scheme £1,314). |
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11. | ULTIMATE CONTROLLING PARTY |
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