COMPANY REGISTRATION NUMBER:
SC552404
Peter Stewart Construction Services Limited
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Filleted Unaudited Abridged Financial Statements
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Peter Stewart Construction Services Limited
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Abridged Statement of Financial Position
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31 December 2017
Fixed assets
Current assets
Debtors
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5,123
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Cash at bank and in hand
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6,242
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--------
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11,365
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Creditors: amounts falling due within one year
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(
7,277)
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--------
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Net current assets
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4,088
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-------
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Total assets less current liabilities
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6,427
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Creditors: amounts falling due after more than one year
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(
937)
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-------
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Net assets
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(
5,490)
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-------
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Capital and reserves
Called up share capital
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1
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Profit and loss account
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5,489
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Shareholders funds
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5,490
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-------
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These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of comprehensive income has not been delivered.
For the period ending 31 December 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its abridged financial statements for the period in question in accordance with section 476
;
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
.
All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the period ending 31 December 2017 in accordance with Section 444(2A) of the Companies Act 2006.
Peter Stewart Construction Services Limited
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Abridged Statement of Financial Position (continued)
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31 December 2017
These abridged financial statements were approved by the
board of directors
and authorised for issue on
7 September 2018
, and are signed on behalf of the board by:
Company registration number:
SC552404
Peter Stewart Construction Services Limited
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Notes to the Abridged Financial Statements
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Period from 12 December 2016 to 31 December 2017
1.
General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Stannergate House, 41 Dundee Road West, Broughty Ferry, Dundee, DD5 1NB.
2.
Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances
.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Corporation tax
The taxation expense represents the aggregate amount of current and deferred tax
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
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Motor Vehicles
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-
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25% straight line
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Equipment
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-
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25% straight line
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Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the abridged statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
4.
Employee numbers
The average number of persons employed by the company during the period amounted to
2
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5.
Tangible assets
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£
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Cost
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At 12 December 2016
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–
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Additions
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3,118
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At 31 December 2017
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3,118
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Depreciation
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At 12 December 2016
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–
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Charge for the period
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779
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At 31 December 2017
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779
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Carrying amount
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At 31 December 2017
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2,339
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