REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 AUGUST 2019 |
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FOR |
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S & D MCHARDY LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 AUGUST 2019 |
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FOR |
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S & D MCHARDY LIMITED |
S & D MCHARDY LIMITED (REGISTERED NUMBER: SC347565) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2019 |
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Company Information | 1 |
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Balance Sheet | 2 | to | 3 |
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Notes to the Financial Statements | 4 | to | 6 |
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Chartered Accountants' Report | 7 |
S & D MCHARDY LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 AUGUST 2019 |
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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 |
4 West Craibstone Street |
Bon-Accord Square |
ABERDEEN |
AB11 6YL |
S & D MCHARDY LIMITED (REGISTERED NUMBER: SC347565) |
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BALANCE SHEET |
31 AUGUST 2019 |
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2019 | 2018 |
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 at bank |
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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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PROVISIONS FOR LIABILITIES |
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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: |
(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. |
S & D MCHARDY LIMITED (REGISTERED NUMBER: SC347565) |
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BALANCE SHEET - continued |
31 AUGUST 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
behalf by: |
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S & D MCHARDY LIMITED (REGISTERED NUMBER: SC347565) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2019 |
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1. | STATUTORY INFORMATION |
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S & D McHardy Limited is a
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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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Preparation of consolidated financial statements |
The financial statements contain information about S & D McHardy Limited as an individual company and do not contain |
consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the |
Companies Act 2006 from the requirements to prepare consolidated 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. Turnover includes revenue earned from the sale of goods and rendering of services. |
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Sale of goods |
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has |
transferred to the buyer. This is usually at the point that the customer has signed for purchase of the goods. |
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Rendering of services |
Revenue is recognised in the accounting period in which the services are rendered when the amount of revenue can be |
measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the |
costs incurred or to be incurred in respect of the transaction can be measured reliably. |
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Tangible fixed assets |
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Land and buildings | - |
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Plant and machinery etc | - |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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Stocks |
Stocks are valued at the lower of cost and estimated selling price less costs to sell. |
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Financial instruments |
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and |
non-puttable ordinary shares which are measured at fair value, with changes recognised 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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S & D MCHARDY LIMITED (REGISTERED NUMBER: SC347565) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 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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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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4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 September 2018 |
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Additions |
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Disposals |
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At 31 August 2019 |
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DEPRECIATION |
At 1 September 2018 |
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Charge for year |
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Eliminated on disposal |
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At 31 August 2019 |
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NET BOOK VALUE |
At 31 August 2019 |
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At 31 August 2018 |
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5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
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COST |
Additions |
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At 31 August 2019 |
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NET BOOK VALUE |
At 31 August 2019 |
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S & D MCHARDY LIMITED (REGISTERED NUMBER: SC347565) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2019 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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8. | RELATED PARTY DISCLOSURES |
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Details of directors loan account transactions and the year end balance are as follows: |
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2019 | 2018 |
£ | £ |
A director: |
Amount due to the director at start of the year | 56,923 | 68,063 |
Received from the director during the year | - | - |
Paid to the director during the year | (3,250 | ) | (11,140 | ) |
Amount due to the director at end of the year | 53,673 | 56,923 |
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2019 | 2018 |
£ | £ |
A director: |
Amount due to the director at start of the year | 67,812 | 63,925 |
Received from the director during the year | - | 3,887 |
Paid to the director during the year | (24,000 | ) | - |
Amount due to the director at end of the year | 43,812 | 67,812 |
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The loans have no set repayment terms and no interest is chargeable. |
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Transfer of trade and assets to subsidiary company: |
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On 31 March 2019 the company transferred its trade and net assets to its subsidiary company, Dinnet Garage Limited. |
Consideration for the transaction was by way of an inter-group loan account as shown in note 8 to the accounts. |
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
S & D MCHARDY LIMITED |
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The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited |
financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. |
Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are |
not required to be filed with the Registrar of Companies. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial |
statements of S & D McHardy Limited for the year ended 31 August 2019 which comprise the Income Statement, Balance Sheet, |
Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations |
you have given us. |
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As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance. |
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This report is made solely to the Board of Directors of S & D McHardy Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of S & D McHardy Limited and state those matters that we have agreed to state to the Board of Directors of S & D McHardy Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
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It is your duty to ensure that S & D McHardy Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of S & D McHardy Limited. You consider that S & D McHardy Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of S & D McHardy Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
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Chartered Accountants |
4 West Craibstone Street |
Bon-Accord Square |
ABERDEEN |
AB11 6YL |
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