REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Abbreviated Unaudited Accounts for the Year Ended 31 October 2015 |
|
for |
|
A. Frew (Haulage Contractors and |
Coal Merchants) Limited |
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Abbreviated Unaudited Accounts for the Year Ended 31 October 2015 |
|
for |
|
A. Frew (Haulage Contractors and |
Coal Merchants) Limited |
A. Frew (Haulage Contractors and |
Coal Merchants) Limited (Registered number: SC041122) |
|
|
|
|
|
|
Contents of the Abbreviated Accounts |
for the Year Ended 31 October 2015 |
|
|
|
|
Page |
|
Company Information | 1 |
|
Chartered Accountants' Report | 2 |
|
Abbreviated Balance Sheet | 3 |
|
Notes to the Abbreviated Accounts | 5 |
A. Frew (Haulage Contractors and |
Coal Merchants) Limited |
|
Company Information |
for the Year Ended 31 October 2015 |
|
|
|
|
|
|
|
DIRECTORS: |
|
|
|
|
|
|
|
SECRETARY: | Angus Frew |
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
ACCOUNTANTS: |
|
|
|
|
|
|
|
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
A. Frew (Haulage Contractors and |
Coal Merchants) Limited |
|
The following reproduces the text of the report prepared for the directors in respect of the company's annual |
unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages three to seven) |
have been prepared. |
|
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of A. Frew (Haulage Contractors and Coal Merchants) Limited for the year ended 31 October 2015 |
which comprise the Profit and Loss Account, the Balance Sheet, and the related notes 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.org.uk/accountspreparationguidance. |
|
This report is made solely to the Board of Directors of A. Frew (Haulage Contractors and Coal Merchants) 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 A. Frew (Haulage Contractors and Coal Merchants) Limited and state those matters that we have agreed to state to the Board of Directors of A. Frew (Haulage Contractors and Coal Merchants) Limited, as a body, in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at http://www.icas.org.uk/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. |
|
It is your duty to ensure that A. Frew (Haulage Contractors and Coal Merchants) 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 A. Frew (Haulage Contractors and Coal Merchants) Limited. You consider that A. Frew (Haulage Contractors and Coal Merchants) Limited is exempt from the statutory audit requirement for the year. |
|
We have not been instructed to carry out an audit or a review of the financial statements of A. Frew (Haulage |
Contractors and Coal Merchants) 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. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
31 March 2016 |
A. Frew (Haulage Contractors and |
Coal Merchants) Limited (Registered number: SC041122) |
|
Abbreviated Balance Sheet |
31 October 2015 |
|
2015 | 2014 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 2 |
|
|
Tangible assets | 3 |
|
|
Investment property | 4 |
|
|
|
|
|
CURRENT ASSETS |
Stocks |
|
|
Debtors |
|
|
Cash at bank and in hand |
|
|
|
|
CREDITORS |
Amounts falling due within one year |
|
|
NET CURRENT ASSETS |
|
|
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
PROVISIONS FOR LIABILITIES |
|
|
NET ASSETS |
|
|
|
CAPITAL AND RESERVES |
Called up share capital | 5 |
|
|
Revaluation reserve |
|
|
Profit and loss account |
|
|
SHAREHOLDERS' FUNDS |
|
|
|
|
|
|
|
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. |
A. Frew (Haulage Contractors and |
Coal Merchants) Limited (Registered number: SC041122) |
|
Abbreviated Balance Sheet - continued |
31 October 2015 |
|
|
|
|
|
The financial statements were approved by the Board of Directors on
|
|
|
|
|
|
|
|
|
|
|
A. Frew (Haulage Contractors and |
Coal Merchants) Limited (Registered number: SC041122) |
|
Notes to the Abbreviated Accounts |
for the Year Ended 31 October 2015 |
|
1. | ACCOUNTING POLICIES |
|
Accounting convention |
The financial statements have been prepared under the historical cost convention as modified by the revaluation |
of certain assets. |
|
Turnover/revenue recognition |
Sales comprise the fair value of the consideration received or receivable for the sale of goods and rendering of |
services in the ordinary course of the Company's activities. Sales are presented, net of value-added tax, rebates |
and discounts. |
|
The Company recognises revenue when the amount of revenue and related cost can be reliably measured, it is |
probable that the collectability of the related receivables is reasonably assured and when the specific criteria for |
each of the Company's activities are met. |
|
Goodwill |
Goodwill is the excess of the purchase consideration over the fair value of the net assets acquired. It is |
capitalised and amortised over its economic life, limited to a maximum of twenty years. |
|
Depreciation |
|
|
Plant and machinery | - |
|
Motor vehicles | - |
|
|
Investment property - considered annually |
Buildings - 2% straight line |
Land - not depreciated |
|
Investment properties |
In accordance with SSAP 19 'Accounting for investment properties', investment properties are revalued annually |
to open market value and no depreciation is provided. The directors consider that this accounting policy results |
in the financial statements giving a true and fair view. The effect of this departure from the Companies Act 2006 |
has not been quantified because it is impracticable and, in the opinion of the directors, would be misleading. |
|
The aggregate surplus or deficit arising on revaluation is transferred to the revaluation reserve except where a |
deficit is deemed to represent a permanent diminution in value, in which case it is charged to the profit and loss |
account. |
|
Stocks |
Stocks are valued at the lower of cost and net realisable value. Cost is based on the cost of purchase on a first in, |
first out basis. Net realisable value is based on estimated selling price less additional costs to completion and |
disposal. |
|
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date, except that: |
|
- deferred tax is not recognised on timing differences arising on revalued properties unless the company has |
entered into a binding sale agreement and is not proposing to take advantage of rollover relief; and |
|
- the recognition of deferred tax assets is limited to the extent that the company anticipates making sufficient |
taxable profits in the future to absorb the reversal of the underlying timing differences. |
|
Deferred tax balances are not discounted. |
A. Frew (Haulage Contractors and |
Coal Merchants) Limited (Registered number: SC041122) |
|
Notes to the Abbreviated Accounts - continued |
for the Year Ended 31 October 2015 |
|
1. | ACCOUNTING POLICIES - continued |
|
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 the profit and loss account in the period to which they relate. |
|
Land and buildings |
The company has taken advantage of the arrangements under Financial Reporting Standard 15 'Tangible fixed |
assets' which allow the carrying value of those assets acquired prior to 1 November 2004, which had been |
revalued, to be retained. All additions to fixed assets since this date are stated at cost. Where an asset that was |
previously revalued is disposed of, its book value is eliminated and an appropriate transfer made from the |
revaluation reserve to the profit and loss account. |
|
2. | INTANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 November 2014 |
and 31 October 2015 |
|
AMORTISATION |
At 1 November 2014 |
and 31 October 2015 |
|
NET BOOK VALUE |
|
At 31 October 2015 |
|
At 31 October 2014 |
|
|
3. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST OR VALUATION |
At 1 November 2014 |
|
Disposals | ( |
) |
At 31 October 2015 |
|
DEPRECIATION |
At 1 November 2014 |
|
Charge for year |
|
Eliminated on disposal | ( |
) |
At 31 October 2015 |
|
NET BOOK VALUE |
At 31 October 2015 |
|
At 31 October 2014 |
|
A. Frew (Haulage Contractors and |
Coal Merchants) Limited (Registered number: SC041122) |
|
Notes to the Abbreviated Accounts - continued |
for the Year Ended 31 October 2015 |
|
4. | INVESTMENT PROPERTY |
Total |
£ |
COST OR VALUATION |
At 1 November 2014 |
and 31 October 2015 |
|
NET BOOK VALUE |
At 31 October 2015 |
|
At 31 October 2014 |
|
|
5. | CALLED UP SHARE CAPITAL |
|
Allotted and issued: |
Number: | Class: | Nominal | 2015 | 2014 |
value: | £ | £ |
|
Ordinary shares | £1 |
|
|
|
6. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
|
The following advances and credits to directors subsisted during the years ended 31 October 2015 and |
31 October 2014: |
|
2015 | 2014 |
£ | £ |
|
Balance outstanding at start of year |
|
|
Amounts repaid |
|
|
Balance outstanding at end of year |
|
|
|
|
Balance outstanding at start of year |
|
|
Amounts repaid |
|
|
Balance outstanding at end of year |
|
|