Francis Campbell Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC334461 (Scotland)

Abridged Financial Statements for the Year Ended 30 November 2018

for

Francis Campbell Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A C Astley-Jones

Mrs M C Younger

SECRETARY:

Mrs M C Younger

REGISTERED OFFICE:

Traprain Cottage

7 Traprain

Haddington

East Lothian

EH41 4PY

REGISTERED NUMBER:

SC334461 (Scotland)

ACCOUNTANT:

Alan Carmichael C.A.

1/2

69 Clouston Street

Glasgow

G20 8QW

FIXED ASSETS

Intangible assets

4

5,325

6,656

Tangible assets

5

23,507

31,342

28,832

37,998

CURRENT ASSETS

Stocks

9,140

5,812

Debtors

9,671

9,515

Cash at bank

9,121

10,060

27,932

25,387

CREDITORS

Amounts falling due within one year

92,081

77,914

NET CURRENT LIABILITIES

(64,149

)

(52,527

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(35,317

)

(14,529

)

PROVISIONS FOR LIABILITIES

5,955

5,955

NET LIABILITIES

(41,272

)

(20,484

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(41,274

)

(20,486

)

SHAREHOLDERS' FUNDS

(41,272

)

(20,484

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30 November 2018 in accordance with Section 444(2A) of the Companies Act 2006.

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 20 March 2019 and were signed on its behalf by:

Mrs M C Younger - Director

1.	STATUTORY INFORMATION

Francis Campbell Limited 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

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.

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 profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

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

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 December 2017

and 30 November 2018

32,500

AMORTISATION

At 1 December 2017

25,844

Amortisation for year

1,331

At 30 November 2018

27,175

NET BOOK VALUE

At 30 November 2018

5,325

At 30 November 2017

6,656

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 December 2017

and 30 November 2018

57,239

DEPRECIATION

At 1 December 2017

25,897

Charge for year

7,835

At 30 November 2018

33,732

NET BOOK VALUE

At 30 November 2018

23,507

At 30 November 2017

31,342

6.	ULTIMATE CONTROLLING PARTY

The controlling party is Mrs M C Younger.

The ultimate controlling party is Mrs M C Younger.