IRIS Accounts Production
v17.2.1.52
SC442464
Board of Directors
1.5.16
30.4.17
30.4.17
4.12.17
true
false
true
false
false
true
false
Auditors Opinion
Ordinary
1.00000
iso4217:GBP
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xbrli:pure
SC442464
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2015-04-30
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2017-04-30
REGISTERED NUMBER:
SC442464
(Scotland)
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for the Year Ended 30 April 2017
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|
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Hunter Laing & Company Limited
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Notes to the Financial Statements
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3
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|
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REGISTERED OFFICE:
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16 Park Circus
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REGISTERED NUMBER:
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SC442464 (Scotland)
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AUDITORS:
|
O'Haras Chartered Accountants, Statutory Auditors
|
Property, plant and equipment
|
4
|
1,904,267
|
|
1,534,472
|
|
|
Investments
|
5
|
149,122
|
|
310,766
|
|
|
Inventories
|
6,597,350
|
|
6,073,497
|
|
|
Debtors
|
6
|
2,534,040
|
|
1,723,231
|
|
|
Cash at bank and in hand
|
8,124
|
|
136,811
|
|
|
Amounts falling due within one year
|
7
|
3,507,158
|
|
3,666,405
|
|
|
NET CURRENT ASSETS
|
5,632,356
|
|
4,267,134
|
|
|
TOTAL ASSETS LESS CURRENT
LIABILITIES
|
7,685,745
|
|
6,112,372
|
|
|
Amounts falling due after more than one
year
|
8
|
(1,462,388
|
) |
(868,959
|
) |
|
PROVISIONS FOR LIABILITIES
|
(77,003
|
) |
(58,382
|
) |
|
NET ASSETS
|
6,146,354
|
|
5,185,031
|
|
|
Called up share capital
|
10
|
19,598
|
|
19,598
|
|
|
Retained earnings
|
6,126,756
|
|
5,165,433
|
|
|
SHAREHOLDERS' FUNDS
|
6,146,354
|
|
5,185,031
|
|
|
The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
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
4 December 2017 and were signed on its behalf
by:
|
|
Hunter Laing & Company Limited is a
private company, limited by shares , registered in Scotland. The
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company's registered number and registered office address can be found on the Company Information page.
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Basis of preparing the financial statements
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|
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
|
Turnover represents the amounts derived from the provision of goods and services, excluding value added tax
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|
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
|
Freehold property
|
-
|
not provided |
|
Long leasehold
|
-
|
at varying rates on cost |
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Improvements to property
|
-
|
2% on cost |
|
Plant and machinery
|
-
|
15% on reducing balance |
|
Fixtures and fittings
|
-
|
10% on cost |
|
Computer equipment
|
-
|
20% on cost |
|
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and
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|
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to
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|
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
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|
substantively enacted by the balance sheet date.
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Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance
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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
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have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the
|
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they
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|
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.
|
3.
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EMPLOYEES AND DIRECTORS
|
|
The average number of employees during the year was
25 .
|
4.
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PROPERTY, PLANT AND EQUIPMENT
|
|
Freehold
|
|
Long
|
|
to
|
|
Plant and
|
|
property
|
|
leasehold
|
|
property
|
|
machinery
|
|
At 1 May 2016
|
1,121,196
|
|
83,967
|
|
39,366
|
|
22,497
|
|
|
|
Additions
|
279,006
|
|
-
|
|
-
|
|
116,082
|
|
|
|
At 30 April 2017
|
1,400,202
|
|
83,967
|
|
39,366
|
|
138,579
|
|
|
|
At 1 May 2016
|
-
|
|
5,039
|
|
2,310
|
|
8,078
|
|
|
|
Charge for year
|
-
|
|
1,679
|
|
787
|
|
7,070
|
|
|
|
Eliminated on disposal
|
-
|
|
-
|
|
-
|
|
-
|
|
|
|
At 30 April 2017
|
-
|
|
6,718
|
|
3,097
|
|
15,148
|
|
|
|
At 30 April 2017
|
1,400,202
|
|
77,249
|
|
36,269
|
|
123,431
|
|
|
|
At 30 April 2016
|
1,121,196
|
|
78,928
|
|
37,056
|
|
14,419
|
|
|
|
fittings
|
|
Wood
|
|
equipment
|
|
Totals
|
|
At 1 May 2016
|
92,207
|
|
215,762
|
|
42,748
|
|
1,617,743
|
|
|
|
Additions
|
3,789
|
|
8,000
|
|
1,764
|
|
408,641
|
|
|
|
Disposals
|
-
|
|
-
|
|
(355
|
) |
(355
|
) |
|
|
At 30 April 2017
|
95,996
|
|
223,762
|
|
44,157
|
|
2,026,029
|
|
|
|
At 1 May 2016
|
21,991
|
|
21,473
|
|
24,380
|
|
83,271
|
|
|
|
Charge for year
|
9,592
|
|
10,989
|
|
8,587
|
|
38,704
|
|
|
|
Eliminated on disposal
|
-
|
|
-
|
|
(213
|
) |
(213
|
) |
|
|
At 30 April 2017
|
31,583
|
|
32,462
|
|
32,754
|
|
121,762
|
|
|
|
At 30 April 2017
|
64,413
|
|
191,300
|
|
11,403
|
|
1,904,267
|
|
|
|
At 30 April 2016
|
70,216
|
|
194,289
|
|
18,368
|
|
1,534,472
|
|
|
5.
|
FIXED ASSET INVESTMENTS
|
|
Investments are included at historical cost.
|
6.
|
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
|
|
|
Trade debtors
|
969,674
|
|
1,280,124
|
|
|
|
Other debtors
|
1,564,366
|
|
443,107
|
|
|
7.
|
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
|
|
|
Bank loans and overdrafts
|
2,160,413
|
|
2,084,952
|
|
|
|
Trade creditors
|
844,477
|
|
939,681
|
|
|
|
Taxation and social security
|
189,689
|
|
140,275
|
|
|
|
Other creditors
|
312,579
|
|
501,497
|
|
|
8.
|
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
|
|
|
Bank loans
|
1,462,388
|
|
868,959
|
|
|
|
Amounts falling due in more than five years:
|
|
Bank loans more 5 yr by instal
|
427,422 |
|
520,970 |
|
|
|
The following secured debts are included within creditors:
|
|
Bank overdrafts
|
991,755
|
|
904,003
|
|
|
|
Bank loans
|
2,631,046
|
|
2,049,908
|
|
|
|
The Clydesdale Bank hold a floating charge over the assets and undertakings of the business and have a legal
|
|
charge over the property owned by the company.
|
10.
|
CALLED UP SHARE CAPITAL
|
|
Allotted, issued and fully paid:
|
|
Number:
|
Class:
|
Nominal
|
30/4/17
|
|
30/4/16
|
|
19,598
|
Ordinary
|
£1
|
19,598 |
|
19,598 |
|
|
11.
|
DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006
|
|
The Report of the Auditors was unqualified.
|
|
John O'Hara CA (Senior Statutory Auditor)
|
|
for and on behalf of
O'Haras Chartered Accountants, Statutory Auditors |
12.
|
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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This is the first year in which the financial statements have been prepared under FRS 102. There are no changes
|
|
as a result of this transition.
|