|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unaudited Financial Statements |
|
for the Year Ended 31st March 2017 |
|
for |
|
John Pollock & Sons Limited |
|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unaudited Financial Statements |
|
for the Year Ended 31st March 2017 |
|
for |
|
John Pollock & Sons Limited |
John Pollock & Sons Limited (Registered number: SC327352) |
|
|
|
|
|
|
Contents of the Financial Statements |
for the Year Ended 31st March 2017 |
|
|
|
|
Page |
|
Company Information | 1 |
|
Balance Sheet | 2 |
|
Notes to the Financial Statements | 4 |
|
John Pollock & Sons Limited |
|
Company Information |
for the Year Ended 31st March 2017 |
|
|
|
|
|
|
|
DIRECTORS: |
|
|
|
|
|
|
|
|
SECRETARY: |
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
ACCOUNTANTS: |
|
Chartered Certified Accountants |
22 West Main Street |
DARVEL |
Ayrshire |
KA17 0AQ |
John Pollock & Sons Limited (Registered number: SC327352) |
|
Balance Sheet |
31st March 2017 |
|
31.3.17 | 31.3.16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
|
|
|
CURRENT ASSETS |
Stocks |
|
|
Debtors | 5 |
|
|
Cash at bank and in hand |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 6 |
|
|
NET CURRENT ASSETS |
|
|
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
CREDITORS |
Amounts falling due after more than one
year |
7 |
( |
) |
( |
) |
|
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
|
|
|
CAPITAL AND RESERVES |
Called up share capital |
|
|
Retained earnings |
|
|
SHAREHOLDERS' FUNDS |
|
|
|
|
|
|
|
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. |
John Pollock & Sons Limited (Registered number: SC327352) |
|
Balance Sheet - continued |
31st March 2017 |
|
|
|
|
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
|
The financial statements were approved by the Board of Directors on
on its behalf by: |
|
|
|
|
|
|
|
John Pollock & Sons Limited (Registered number: SC327352) |
|
Notes to the Financial Statements |
for the Year Ended 31st March 2017 |
|
1. | STATUTORY INFORMATION |
|
John Pollock & Sons Limited is a
|
company's registered number and registered office address can be found on the Company Information |
page. |
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
Turnover |
Turnover is the amount derived from ordinary activities, and stated after trade discounts, other sales |
taxes and net of VAT. |
|
Tangible fixed assets |
|
Land and buildings | - |
|
Plant and machinery etc | - |
|
|
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for |
obsolete and slow moving items, with the exception of the dairy herd. The cattle included in the dairy |
herd are included at their historical herd cost in accordance with the herd basis rules. |
|
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. |
|
Current or deferred taxation assets and liabilities are not discounted. |
|
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. |
|
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date. |
|
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. |
|
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. |
|
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. |
John Pollock & Sons Limited (Registered number: SC327352) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31st March 2017 |
|
2. | ACCOUNTING POLICIES - continued |
|
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. |
|
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. |
|
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the |
period of the lease. |
|
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. |
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
|
4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1st April 2016 |
|
|
|
Additions |
|
|
|
Disposals |
|
( |
) | ( |
) |
At 31st March 2017 |
|
|
|
DEPRECIATION |
At 1st April 2016 |
|
|
|
Charge for year |
|
|
|
Eliminated on disposal |
|
( |
) | ( |
) |
At 31st March 2017 |
|
|
|
NET BOOK VALUE |
At 31st March 2017 |
|
|
|
At 31st March 2016 |
|
|
|
John Pollock & Sons Limited (Registered number: SC327352) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31st March 2017 |
|
4. | TANGIBLE FIXED ASSETS - continued |
|
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
|
Plant and |
machinery |
etc |
£ |
COST |
At 1st April 2016 |
|
Additions |
|
Transfer to ownership | (193,500 | ) |
At 31st March 2017 |
|
DEPRECIATION |
At 1st April 2016 |
|
Charge for year |
|
Transfer to ownership | (114,240 | ) |
At 31st March 2017 |
|
NET BOOK VALUE |
At 31st March 2017 |
|
At 31st March 2016 |
|
|
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.17 | 31.3.16 |
£ | £ |
Trade debtors |
|
|
Other debtors |
|
|
|
|
|
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.17 | 31.3.16 |
£ | £ |
Hire purchase contracts |
|
|
Trade creditors |
|
|
Taxation and social security |
|
|
Other creditors |
|
|
|
|
|
7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
31.3.17 | 31.3.16 |
£ | £ |
Hire purchase contracts |
|
|
John Pollock & Sons Limited (Registered number: SC327352) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31st March 2017 |
|
8. | SECURED DEBTS |
|
The following secured debts are included within creditors: |
|
31.3.17 | 31.3.16 |
£ | £ |
Hire purchase contracts | 113,313 | 57,906 |
|
Hire purchase creditors are secured over the items of plant and machinery that have been acquired |
under a hire purchase finance contract. |
|
9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
|
The following advances and credits to directors subsisted during the years ended 31st March 2017 and |
31st March 2016: |
|
31.3.17 | 31.3.16 |
£ | £ |
|
Balance outstanding at start of year |
|
|
Amounts advanced |
|
|
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) |
|
|
|
Balance outstanding at start of year |
|
|
Amounts advanced |
|
|
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
|
|
|
|
Balance outstanding at start of year |
|
|
Amounts advanced |
|
|
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
|
|
|
At 1st April 2016 Mr. W. Pollock owed £10,376 to the company by way of a loan to him. During the |
period under review the company advanced further net sums of £4,354 to Mr. W. Pollock. At 31st |
March 2017 Mr. W. Pollock owed £14,730 to the company. At 1st April 2016 Mr. R. Pollock owed |
£15,000 to the company by way of a loan to him. During the period under review Mr. R. Pollock repaid |
this entire sum to the company and he advanced a further net loan of £861 to the company. At 31st |
March 2017 the company owed £861 to Mr. R. Pollock. At 1st April 2016 Mr. A. Pollock owed £92,190 |
to the company by way of a loan to him. During the period under review the company advanced |
further net sums of £38,527 to Mr. A. Pollock. At 31st March 2017 Mr. A. Pollock owed £130,717 to |
the company. Sums owed to the company by Mr. W. Pollock and Mr. A. Pollock, which are included in |
Other debtors above, are unsecured, repayable on demand and interest is payable at the official rate |
of interest on the outstanding balances owed to the company. Sums owed by the company to Mr. R. |
Pollock, which are included in Other creditors above, are unsecured, interest free and repayable on |
demand. Mr. W. Pollock, Mr. A. Pollock and Mr. R. Pollock are all directors of the company and they |
each have a beneficial interest in one-third of the company's called up share capital. |
John Pollock & Sons Limited (Registered number: SC327352) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31st March 2017 |
|
10. | ULTIMATE CONTROLLING PARTY |
|
During the period under review the company was controlled by its Directors, Mr. W. Pollock, Mr. A. |
Pollock and Mr. R. Pollock, who each have a beneficial interest in one-third of the company's called up |
share capital. |