Company Registration No. SC494614 (Scotland)
Trans Ecosse Limited
Unaudited accounts
for the year ended 31 July 2018
Trans Ecosse Limited
Unaudited accounts
Contents
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 2018
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 2018 as set out on pages
4 -
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
23 April 2019
Trans Ecosse Limited
Statement of financial position
as at
31 July 2018
Tangible assets
97,057
32,220
Cash at bank and in hand
33,864
-
Creditors: amounts falling due within one year
(180,637)
(81,739)
Net current liabilities
(120,281)
(48,488)
Total assets less current liabilities
(23,224)
(16,268)
Creditors: amounts falling due after more than one year
(103,328)
(6,695)
Provisions for liabilities
Deferred tax
(18,440)
(6,336)
Net liabilities
(144,992)
(29,299)
Called up share capital
2
1
Profit and loss account
(144,994)
(29,300)
Shareholders' funds
(144,992)
(29,299)
For the year ending 31 July 2018 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 23 April 2019.
Robert Montgomery
Director
Company Registration No. SC494614
Trans Ecosse Limited
Notes to the Accounts
for the year ended 31 July 2018
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.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
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.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Trans Ecosse Limited
Notes to the Accounts
for the year ended 31 July 2018
4
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 August 2017
50,477
1,181
51,658
Additions
123,083
-
123,083
At 31 July 2018
173,560
1,181
174,741
At 1 August 2017
18,650
788
19,438
Charge for the year
57,853
393
58,246
At 31 July 2018
76,503
1,181
77,684
At 31 July 2018
97,057
-
97,057
At 31 July 2017
31,827
393
32,220
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Plant & machinery
88,333
30,000
Trade debtors
26,492
33,251
6
Creditors: amounts falling due within one year
2018
2017
Bank loans and overdrafts
8,424
13,864
Obligations under finance leases and hire purchase contracts
36,888
30,029
Trade creditors
79,861
18,275
Taxes and social security
9,239
5,507
Loans from directors
36,142
6,870
7
Creditors: amounts falling due after more than one year
2018
2017
Obligations under finance leases and hire purchase contracts
80,176
-
8
Average number of employees
During the year the average number of employees was 7 (2017: 6).