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REGISTERED NUMBER:
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2018 |
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AN LANNTAIR TRADING LIMITED |
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REGISTERED NUMBER:
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2018 |
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FOR |
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AN LANNTAIR TRADING LIMITED |
AN LANNTAIR TRADING LIMITED (REGISTERED NUMBER: SC300606) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2018 |
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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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AN LANNTAIR TRADING LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2018 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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SENIOR STATUTORY AUDITOR: |
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AUDITORS: |
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Chartered Accountants |
63 Kenneth Street |
Stornoway |
Isle of Lewis |
Western Isles |
HS1 2DS |
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BANKERS: |
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23 South Beach Street |
Stornoway |
Isle of Lewis |
HS1 2BQ |
AN LANNTAIR TRADING LIMITED (REGISTERED NUMBER: SC300606) |
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BALANCE SHEET |
31 MARCH 2018 |
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31.3.17 | 31.3.18 |
£ | £ | Notes | £ | £ |
FIXED ASSETS |
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Tangible assets | 4 |
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CURRENT ASSETS |
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Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
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Amounts falling due within one year | 6 |
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( |
) | NET CURRENT LIABILITIES | ( |
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( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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CAPITAL AND RESERVES |
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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 director on
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AN LANNTAIR TRADING LIMITED (REGISTERED NUMBER: SC300606) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2018 |
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1. | STATUTORY INFORMATION |
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An Lanntair Trading Limited is a
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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 (£) and are rounded to the nearest £. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The director considers that there are no material uncertainties about the company's ability to continue as a going |
concern as the company's bankers have provided overdraft facilities and the parent charity, An Lanntair Limited, |
have committed to provide any support necessary. The director also considers that there are no significant areas |
of judgements, estimates or key assumptions that affect items in the accounts. |
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Turnover |
Turnover represents sales of goods and services, commissions and service fees receivable, excluding value added |
tax. Turnover is recognised when the risks and rewards associated with the transaction have transferred to the |
purchaser. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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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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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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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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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling |
at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
AN LANNTAIR TRADING LIMITED (REGISTERED NUMBER: SC300606) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2018 |
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2. | ACCOUNTING POLICIES - continued |
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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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Grants |
Grants of a revenue nature are taken to the Profit and Loss Account in the year in which the related expenditure |
is undertaken. Grants received which are related to capital expenditure are capitalised in the Balance Sheet |
under Creditors and are released to the Profit and Loss Account on the same basis as the related capital |
expenditure is depreciated. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to the profit and loss account as incurred. |
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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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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 April 2017 |
and 31 March 2018 |
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DEPRECIATION |
At 1 April 2017 |
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Charge for year |
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At 31 March 2018 |
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NET BOOK VALUE |
At 31 March 2018 |
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At 31 March 2017 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.18 | 31.3.17 |
£ | £ |
Trade debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.18 | 31.3.17 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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Included in other creditors are unpaid pension contributions of £nil (2017 - £nil). |
AN LANNTAIR TRADING LIMITED (REGISTERED NUMBER: SC300606) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2018 |
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7. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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31.3.18 | 31.3.17 |
£ | £ |
Bank overdrafts |
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The bank overdraft is secured by a floating charge over the company's assets and undertakings. |
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An Lanntair Limited has provided a guarantee of £30,000 in respect of the overdraft facilities advanced to An |
Lanntair Trading Limited by the Clydesdale Bank. |
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8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Auditors' Report was unqualified. |
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for and on behalf of
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9. | RELATED PARTY DISCLOSURES |
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The company is a wholly owned subsidiary of An Lanntair Limited and operates a bar, cafe, restaurant and book |
and gift shop within the An Lanntair premises. An Lanntair Limited is a charitable company limited by guarantee |
incorporated in Scotland. |
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During the year ended 31 March 2018 An Lanntair Trading Limited made sales of £6,447 (2017 - £13,819) to An |
Lanntair Limited and purchased services of £9,843 (2017 - £56,674) from An Lanntair Limited. The amount owed |
by the company to An Lanntair Limited at 31 March 2018 was £4,059 (2017 - £4,442). |
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An Lanntair Limited has provided a cross company guarantee of £30,000 in support of the overdraft facilities |
advanced to An Lanntair Trading Limited by the Clydesdale Bank. |
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An Lanntair Trading made no donation to An Lanntair Limited during the year ended 31 March 2018 (2017 - |
£10,000). |
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10. | APB ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES |
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In common with many other businesses of our size and nature we use our auditors to prepare and submit returns |
to the tax authorities and assist with the preparation of the financial statements. |
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11. | ULTIMATE CONTROLLING PARTY |
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The company's ultimate parent company is An Lanntair Limited, a charitable limited company incorporated in |
Scotland. |