Aire-Sales Scotland Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC110291 (Scotland)

AIRE-SALES SCOTLAND LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

5

DIRECTORS:

C R Friel

J M P Colbron

REGISTERED OFFICE:

6th Floor

145 St Vincent Street

Glasgow

G2 5JF

REGISTERED NUMBER:

SC110291 (Scotland)

ACCOUNTANTS:

Hardie Caldwell LLP

Chartered Accountants

Citypoint 2

25 Tyndrum Street

Glasgow

G4 0JY

BANKERS:

Clydesdale Bank plc

St Rollox Branch

66 Queen Street

Glasgow

G1 3DS

SOLICITORS:

Morton Fraser LLP

6th Floor

145 St Vincent Street

Glasgow

G2 5JF

FIXED ASSETS

Tangible assets

4

5,645

28,433

CURRENT ASSETS

Debtors

5

122,037

172,694

Cash at bank

176,863

188,311

298,900

361,005

CREDITORS

Amounts falling due within one year

6

110,516

210,818

NET CURRENT ASSETS

188,384

150,187

TOTAL ASSETS LESS CURRENT LIABILITIES

194,029

178,620

CAPITAL AND RESERVES

Called up share capital

7

340

340

Capital redemption reserve

660

660

Retained earnings

193,029

177,620

SHAREHOLDERS' FUNDS

194,029

178,620

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 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.

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 Board of Directors on 26 February 2019 and were signed on its behalf by:

J M P Colbron - Director

1.	STATUTORY INFORMATION

Aire-Sales Scotland Limited is a private company, limited by shares, registered in Scotland. The company's

registered number is SC110291 and its registered office is 6th Floor, 145 St Vincent Street, Glasgow, G2 5JF.

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 as modified by the revaluation of certain assets.

Going Concern

The company has cash resources and has no requirement for external funding. The directors have a reasonable

expectation that the company has adequate resources to continue in operational existence for the foreseeable

future. They continue to believe the going concern basis of accounting appropriate in preparing the annual

financial statements.

Revenue recognition

Turnover is measured at fair value of the consideration received or receivable.

Turnover represents net invoiced sales of goods, excluding value added tax attributable to the one principal

activity of the company.

Tangible fixed assets

Depreciation of fixed assets is calculated to write off the cost or valuation less any residual value over their

estimated useful lives as follows:

Fixtures & fittings

15% reducing balance

Motor vehicles

25% reducing balance

Pension costs and other post-retirement benefits

The company contributes to a private personal plan for all employees. Contributions payable to the pension

plans are charged to the profit and loss account in the period to which they relate.

Financial instruments

Debtors

Trade and other debtors, excluding prepayments, are recognised at the settlement amount due with appropriate

allowances for any irrecoverable amounts when there is objective evidence that the asset is impaired.

Cash and cash equivalents

Cash and cash equivalents in the balance sheet comprise cash at bank with a short term of maturity, being twelve

months or less, from the opening of the deposit or similar account.

Creditors

Trade and other creditors are recognised where the company has a present obligation resulting from a past event

and are recognised at the settlement amount due after allowing for any trade discounts due.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2017 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 July 2017

71,392

Disposals

(41,957

)

At 30 June 2018

29,435

DEPRECIATION

At 1 July 2017

42,959

Charge for year

996

Eliminated on disposal

(20,165

)

At 30 June 2018

23,790

NET BOOK VALUE

At 30 June 2018

5,645

At 30 June 2017

28,433

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

111,714

162,624

Other debtors

10,323

10,070

122,037

172,694

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

47,344

150,798

Taxation and social security

52,232

51,686

Other creditors

10,940

8,334

110,516

210,818

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

340

Ordinary

£1

340

340

8.	OTHER FINANCIAL COMMITMENTS

At 30 June 2018, the company had total commitments under non-cancellable operating leases over the remaining

life of those leases of £99,846 (2017: £101,341).

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Aire-Sales Scotland Limited for the year ended 30 June 2018 which comprise the Income

Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity 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 ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Aire-Sales Scotland 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 Aire-Sales Scotland Limited and state those matters that we have agreed to state to the Board of Directors of Aire-Sales Scotland Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/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 Aire-Sales Scotland 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 Aire-Sales Scotland Limited. You consider that Aire-Sales Scotland 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 Aire-Sales Scotland 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.

Hardie Caldwell LLP

Chartered Accountants

Citypoint 2

25 Tyndrum Street

Glasgow

G4 0JY

26 February 2019