Cameron Drywall Contractors Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC167269 (Scotland)

Unaudited Financial Statements for the Year Ended 31 July 2018

for

Cameron Drywall Contractors Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R Steedman

Mrs M A Steedman

SECRETARY:

Mrs M A Steedman

REGISTERED OFFICE:

First Floor 1 Deer Park Avenue

Fairways Business Park

Livingston

West Lothian

EH54 8AF

REGISTERED NUMBER:

SC167269 (Scotland)

ACCOUNTANTS:

Sutherland Black

Chartered Accountants

8 Deer Park Avenue

Fairways Business Park

Livingston

West Lothian

EH54 8GA

FIXED ASSETS

Tangible assets

4

503,935

368,955

CURRENT ASSETS

Stocks

159,850

95,315

Debtors

5

1,130,090

1,237,142

Cash at bank and in hand

306,676

334,022

1,596,616

1,666,479

CREDITORS

Amounts falling due within one year

6

748,900

710,861

NET CURRENT ASSETS

847,716

955,618

TOTAL ASSETS LESS CURRENT LIABILITIES

1,351,651

1,324,573

CREDITORS

Amounts falling due after more than one year

7

(117,557

)

(136,710

)

PROVISIONS FOR LIABILITIES

8

(18,128

)

(20,926

)

NET ASSETS

1,215,966

1,166,937

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

10

1,215,866

1,166,837

SHAREHOLDERS' FUNDS

1,215,966

1,166,937

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 3 April 2019 and were signed on its behalf by:

R Steedman - Director

1.	STATUTORY INFORMATION

Cameron Drywall Contractors 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the

balance sheet. Those held under hire purchase contracts are depreciated over their

estimated useful lives. Those held under finance leases are depreciated over their estimated

useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period.

The capital element of the future payments is treated as a liability.

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 20 (2017 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Plant and

Motor

property

machinery

vehicles

Totals

£

£

£

£

COST

At 1 August 2017

233,887

60,094

200,085

494,066

Additions

151,165

-

24,500

175,665

Disposals

-

(5,098

)

(36,196

)

(41,294

)

At 31 July 2018

385,052

54,996

188,389

628,437

DEPRECIATION

At 1 August 2017

-

44,858

80,253

125,111

Charge for year

-

3,295

32,917

36,212

Eliminated on disposal

-

(4,806

)

(32,015

)

(36,821

)

At 31 July 2018

-

43,347

81,155

124,502

NET BOOK VALUE

At 31 July 2018

385,052

11,649

107,234

503,935

At 31 July 2017

233,887

15,236

119,832

368,955

Fixed assets, included in the above, which are held under hire purchase contracts are as

follows:

Motor

vehicles

£

COST

At 1 August 2017

163,890

Additions

24,500

At 31 July 2018

188,390

DEPRECIATION

At 1 August 2017

48,818

Charge for year

32,341

At 31 July 2018

81,159

NET BOOK VALUE

At 31 July 2018

107,231

At 31 July 2017

115,072

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

1,079,568

1,151,143

Other debtors

50,522

52,840

VAT

-

33,159

1,130,090

1,237,142

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

10,500

10,500

Hire purchase contracts

25,778

30,533

Trade creditors

519,056

382,935

Tax

22,146

75,799

Social security and other taxes

47,814

45,860

VAT

59,697

-

Other creditors

63,653

157,460

Credit Card

-

763

Net wages

169

6,481

Directors' current accounts

87

530

748,900

710,861

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Bank loans - 2-5 years

47,250

47,250

Bank loans more 5 yr by instal

19,022

34,744

Hire purchase contracts

51,285

54,716

117,557

136,710

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

19,022

34,744

8.	PROVISIONS FOR LIABILITIES

2018

2017

£

£

Deferred tax

18,128

20,926

Deferred

tax

£

Balance at 1 August 2017

20,926

Provided during year

(2,798

)

Balance at 31 July 2018

18,128

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

100

Ordinary

£1

100

100

10.

RESERVES

Retained

earnings

£

At 1 August 2017

1,166,837

Profit for the year

85,119

Dividends

(36,090

)

At 31 July 2018

1,215,866

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

As at the balance sheet date the company owes Mr R Steedman, a director of the company,

£44 (2017 - £265). There are no fixed repayment terms and interest is not payable on this

balance.

As at the balance sheet date the company owes Mrs M Steedman, a director of the company,

£43 (2017 - £265). There are no fixed repayment terms and interest is not payable on this

balance.