Company Registration No. SC522003 (Scotland)
Thistle Artificial Grass Limited
Unaudited accounts
for the year ended 31 August 2019
Thistle Artificial Grass Limited
Unaudited accounts
Contents
Thistle Artificial Grass Limited
Company Information
for the year ended 31 August 2019
Directors
Ian James Bruce
Edward Nicol Robson
Philip George Strachan
Company Number
SC522003 (Scotland)
Registered Office
Thistle House Woodside Road
Bridge of Don
Aberdeen
AB23 8EF
Thistle Artificial Grass Limited
Statement of financial position
as at
31 August 2019
Tangible assets
87,432
65,881
Inventories
50,504
35,890
Cash at bank and in hand
64,004
56,946
Creditors: amounts falling due within one year
(158,050)
(147,070)
Net current (liabilities)/assets
(470)
24,923
Total assets less current liabilities
86,962
90,804
Creditors: amounts falling due after more than one year
(31,291)
(32,920)
Provisions for liabilities
Deferred tax
(5,473)
(5,867)
Called up share capital
3,000
3,000
Profit and loss account
47,198
49,017
Shareholders' funds
50,198
52,017
For the year ending 31 August 2019 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 directors acknowledge their 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 22 May 2020.
Ian James Bruce
Director
Company Registration No. SC522003
Thistle Artificial Grass Limited
Notes to the Accounts
for the year ended 31 August 2019
Thistle Artificial Grass Limited is a private company, limited by shares, registered in Scotland, registration number SC522003. The registered office is Thistle House Woodside Road, Bridge of Don, Aberdeen, AB23 8EF.
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.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
Fixtures & fittings
25% straight line
Stocks and work-in-progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
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 is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset.
Deferred tax assets and liabilities are not discounted.
Thistle Artificial Grass Limited
Notes to the Accounts
for the year ended 31 August 2019
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 September 2018
14,138
59,751
433
74,322
Additions
666
30,506
3,376
34,548
At 31 August 2019
14,804
90,257
3,809
108,870
At 1 September 2018
6,092
2,241
108
8,441
Charge for the year
2,121
10,350
526
12,997
At 31 August 2019
8,213
12,591
634
21,438
At 31 August 2019
6,591
77,666
3,175
87,432
At 31 August 2018
8,046
57,510
325
65,881
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Motor vehicles
77,666
57,510
Raw materials
25,430
21,194
Work in progress
25,074
14,696
Trade debtors
42,528
47,157
7
Creditors: amounts falling due within one year
2019
2018
Obligations under finance leases and hire purchase contracts
22,668
17,408
Trade creditors
51,694
56,224
Taxes and social security
37,201
37,522
Other creditors
19,280
1,188
Loans from directors
9,000
9,000
Thistle Artificial Grass Limited
Notes to the Accounts
for the year ended 31 August 2019
8
Creditors: amounts falling due after more than one year
2019
2018
Obligations under finance leases and hire purchase contracts
31,291
32,920
9
Share capital
2019
2018
Allotted, called up and fully paid:
3,000 Ordinary shares of £1 each
3,000
3,000
10
Transactions with related parties
Philip Strachan, director, has provided the company with an interest free loan of £9,000 (2018 - £9,000). There are no formal repayment terms. In addition the company is due a loan of £18,000 (2018 - £nil) to Thistle Windows & Conservatories Limited on the same terms. Thistle Windows & Conservatories Limited operates under the control of Mr Bruce and Mr Robson.
The company also provided Thistle Windows & Conservatories Ltd with a loan. The amount outstanding at the the year was £nil (2018 - £32,000, and maximum amount outstanding). The loan was interest free.
11
Average number of employees
During the year the average number of employees was 12 (2018: 11).