Michael Pater (Design & Build) Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC379483 (Scotland)

Financial Statements for the Year Ended 30 June 2018

for

Michael Pater (Design & Build) Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

M Pater

REGISTERED OFFICE:

c/o Rennie Smith & Co

64 Murray Place

Stirling

Central

FK8 2BX

REGISTERED NUMBER:

SC379483 (Scotland)

CURRENT ASSETS

Stocks

52,963

176,823

Debtors

4

-

2,151

Cash at bank

239,641

1,470

292,604

180,444

CREDITORS

Amounts falling due within one year

5

215,018

146,966

NET CURRENT ASSETS

77,586

33,478

TOTAL ASSETS LESS CURRENT LIABILITIES

77,586

33,478

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

6

76,586

32,478

SHAREHOLDERS' FUNDS

77,586

33,478

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 1 March 2019 and were signed by:

M Pater - Director

1.	STATUTORY INFORMATION

Michael Pater (Design & Build) Ltd is a private company, limited by shares , registered in Scotland. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - 1 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Other debtors

-

2,151

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Taxation and social security

55,750

1,283

Other creditors

159,268

145,683

215,018

146,966

6.

RESERVES

Retained

earnings

£

At 1 July 2017

32,478

Profit for the year

64,108

Dividends

(20,000

)

At 30 June 2018

76,586

7.	ULTIMATE CONTROLLING PARTY

The company was under the control of Miss L Waddel throughout the year under review. Miss L Waddell is the

majority shareholder.