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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2017 |
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S. MCILWRAITH (RECYCLING) LIMITED |
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REGISTERED NUMBER:
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2017 |
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FOR |
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S. MCILWRAITH (RECYCLING) LIMITED |
S. MCILWRAITH (RECYCLING) LIMITED (REGISTERED NUMBER: SC210472) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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S. MCILWRAITH (RECYCLING) LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
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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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AUDITORS: |
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Chartered Accountants |
and Statutory Auditor |
213 St Vincent Street |
Glasgow |
G2 5QY |
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BANKERS: |
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23 Sauchiehall Street |
Glasgow |
G2 3AD |
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SOLICITORS: |
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Douglas House |
42 Main Street |
Milngavie |
Glasgow |
G62 6BU |
S. MCILWRAITH (RECYCLING) LIMITED (REGISTERED NUMBER: SC210472) |
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BALANCE SHEET |
31 DECEMBER 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 3 |
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Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank and 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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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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 on
by: |
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S. MCILWRAITH (RECYCLING) LIMITED (REGISTERED NUMBER: SC210472) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
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1. | STATUTORY INFORMATION |
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S. McIlwraith (Recycling) Limited is a
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company's 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 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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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost |
less any accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
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Land & Buildings - 2% on cost |
Plant & Machinery - 20% on cost |
Fixtures & Fittings - 20% on cost |
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Stocks |
Stocks 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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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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3. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 January 2017 |
and 31 December 2017 |
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AMORTISATION |
At 1 January 2017 |
and 31 December 2017 |
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NET BOOK VALUE |
At 31 December 2017 |
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At 31 December 2016 |
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S. MCILWRAITH (RECYCLING) LIMITED (REGISTERED NUMBER: SC210472) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
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4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 January 2017 |
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Additions |
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At 31 December 2017 |
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DEPRECIATION |
At 1 January 2017 |
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Charge for year |
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At 31 December 2017 |
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NET BOOK VALUE |
At 31 December 2017 |
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At 31 December 2016 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Amounts owed by related undertakings | 154,580 | 189,997 |
Prepayments and accrued income |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade creditors |
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Tax |
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VAT | 96,617 | 70,270 |
Accrued expenses |
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7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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8. | CONTINGENT LIABILITIES |
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There is a contingent liability for inter-company guarantees given to the company's bankers in respect of |
overdraft facilities given to group and related companies. This is supported by a bond and floating charge over |
all the assets of the company and a standard security over certain properties owned by the group. |
S. MCILWRAITH (RECYCLING) LIMITED (REGISTERED NUMBER: SC210472) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
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9. | ULTIMATE CONTROLLING PARTY |
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The ultimate controlling party is R. M. Easdale & Company Limited, a company registered in Scotland. |