Company Registration No. SC494614 (Scotland)
Trans Ecosse Limited
Unaudited accounts
for the year ended 31 July 2017
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of
Trans Ecosse Limited
for the year ended 31 July 2017
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Trans Ecosse Limited for the year ended
31 July 2017 as set out on pages
3 -
6 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants of Scotland, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.
Our work has been undertaken in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at http://www.icas.com/accountspreparationguidance.
FBD Consultancy, Accounts & Tax Ltd
Chartered Accountants
Sgarbach House
10 Binniehill Road
Cumbernauld
North Lanarkshire
G68 9AJ
24 April 2018
Trans Ecosse Limited
Statement of financial position
as at
31 July 2017
Tangible assets
32,220
4,439
Cash at bank and in hand
-
18,036
Creditors: amounts falling due within one year
(81,739)
(56,248)
Net current (liabilities)/assets
(48,488)
17,396
Total assets less current liabilities
(16,268)
21,835
Creditors: amounts falling due after more than one year
(6,695)
(9,718)
Provisions for liabilities
Deferred tax
(6,336)
(888)
Net (liabilities)/assets
(29,299)
11,229
Called up share capital
1
1
Profit and loss account
(29,300)
11,228
Shareholders' funds
(29,299)
11,229
For the year ending 31 July 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 24 April 2018.
ROBERT MONTGOMERY
Director
Company Registration No. SC494614
Trans Ecosse Limited
Notes to the Accounts
for the year ended 31 July 2017
Trans Ecosse Limited is a private company, limited by shares, registered in Scotland, registration number SC494614. The registered office is 10 Letham Grange, Cumbernauld, Lanarkshire, Scotland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 31 July 2017 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 August 2015.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
3 years straight line
Computer equipment
3 years straight line
The directors are satisfied that the company has adequate funding for its operations and can continue to operate within its banking facilities and therefore consider it appropriate to prepare the accounts on a going concern basis.
Trans Ecosse Limited
Notes to the Accounts
for the year ended 31 July 2017
4
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 August 2016
5,477
1,181
6,658
Additions
45,000
-
45,000
At 31 July 2017
50,477
1,181
51,658
At 1 August 2016
1,825
394
2,219
Charge for the year
16,825
394
17,219
At 31 July 2017
18,650
788
19,438
At 31 July 2017
31,827
393
32,220
At 31 July 2016
3,652
787
4,439
Trade debtors
33,251
55,608
6
Creditors: amounts falling due within one year
2017
2016
Bank loans and overdrafts
13,864
4,147
Obligations under finance leases and hire purchase contracts
30,029
-
Trade creditors
18,275
6,184
Taxes and social security
5,507
15,620
Loans from directors
6,870
27,647
7
Creditors: amounts falling due after more than one year
2017
2016
8
Deferred taxation
2017
2016
Accelerated capital allowances
6,336
888
Provision at start of year
888
-
Charged to the profit and loss account
5,448
888
Provision at end of year
6,336
888
Trans Ecosse Limited
Notes to the Accounts
for the year ended 31 July 2017
9
Average number of employees
During the year the average number of employees was 6 (2016: 1).