A D Munro (Harris) Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC344202 (Scotland)

A D MUNRO (HARRIS) LTD

FINANCIAL STATEMENTS FOR THE PERIOD 1 JULY 2017 TO 31 OCTOBER 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A D Munro

Mrs V A Murray

Mrs M E Smith

Mrs J M Macaskill

SECRETARY:

REGISTERED OFFICE:

26 Lewis Street

Stornway

Isle of Lewis

HS1 2JF

REGISTERED NUMBER:

SC344202 (Scotland)

ACCOUNTANTS:

Mann Judd Gordon Ltd

Chartered Accountants

26 Lewis Street

Stornoway

Isle of Lewis

HS1 2JF

FIXED ASSETS

Intangible assets

4

-

1,500

Tangible assets

5

15,067

16,309

15,067

17,809

CURRENT ASSETS

Stocks

79,867

76,500

Debtors

6

12,461

29,464

Cash at bank and in hand

9,655

43,535

101,983

149,499

CREDITORS

Amounts falling due within one year

7

97,242

98,125

NET CURRENT ASSETS

4,741

51,374

TOTAL ASSETS LESS CURRENT LIABILITIES

19,808

69,183

PROVISIONS FOR LIABILITIES

3,250

2,988

NET ASSETS

16,558

66,195

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

16,458

66,095

SHAREHOLDERS' FUNDS

16,558

66,195

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

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

Mrs V A Murray - Director

1.	STATUTORY INFORMATION

A D Munro (Harris) 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.

The presentation currency of the financial statements is the Pound Sterling (£).

The accounts are rounded to the nearest £1.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" 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 2009, 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.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

20% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

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 period 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 period 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.

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 period was 10 (2017 - 9 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 July 2017

and 31 October 2018

15,000

AMORTISATION

At 1 July 2017

13,500

Charge for period

1,500

At 31 October 2018

15,000

NET BOOK VALUE

At 31 October 2018

-

At 30 June 2017

1,500

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 July 2017

7,153

10,747

34,317

21,306

73,523

Additions

1,040

1,960

-

5,430

8,430

Disposals

-

-

(21,525

)

-

(21,525

)

At 31 October 2018

8,193

12,707

12,792

26,736

60,428

DEPRECIATION

At 1 July 2017

3,909

8,218

25,020

20,067

57,214

Charge for period

1,071

1,040

1,204

1,875

5,190

Eliminated on disposal

-

-

(17,043

)

-

(17,043

)

At 31 October 2018

4,980

9,258

9,181

21,942

45,361

NET BOOK VALUE

At 31 October 2018

3,213

3,449

3,611

4,794

15,067

At 30 June 2017

3,244

2,529

9,297

1,239

16,309

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.18

30.6.17

£

£

Trade debtors

12,461

14,769

Other debtors

-

14,695

12,461

29,464

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.18

30.6.17

£

£

Bank loans and overdrafts

43,404

-

Trade creditors

53,146

78,947

Taxation and social security

(5,283

)

7,923

Other creditors

5,975

11,255

97,242

98,125

8.	RELATED PARTY DISCLOSURES

Creditors in 2017 include a loan of £5,280 (2018: £nil ) from directors.

9.	ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.