Arran Haulage Services Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC109578 (Scotland)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019

FOR

Arran Haulage Services Limited

Page

Company information

1

Balance sheet

2

Notes to the financial statements

4

DIRECTORS:

S J Armitage

Mrs R E Armitage

SECRETARY:

Mrs R E Armitage

REGISTERED OFFICE:

Home Farm

Brodick

Isle of Arran

KA27 8DD

REGISTERED NUMBER:

SC109578 (Scotland)

ACCOUNTANTS:

Burgoyne Carey

Chartered Accountants

Pavilion 2

3 Dava Street

Broomloan Road

Glasgow

G51 2JA

FIXED ASSETS

Tangible assets

4

454,763

465,045

Investments

5

500,000

450,000

954,763

915,045

CURRENT ASSETS

Stocks

150,000

70,000

Debtors

6

370,735

415,397

Cash at bank and in hand

200,935

222,040

721,670

707,437

CREDITORS

Amounts falling due within one year

7

276,350

353,714

NET CURRENT ASSETS

445,320

353,723

TOTAL ASSETS LESS CURRENT LIABILITIES

1,400,083

1,268,768

CREDITORS

Amounts falling due after more than one year

8

(45,766

)

(42,994

)

PROVISIONS FOR LIABILITIES

(62,724

)

(63,618

)

NET ASSETS

1,291,593

1,162,156

CAPITAL AND RESERVES

Called up share capital

50,000

50,000

Capital redemption reserve

110,000

110,000

Retained earnings

1,131,593

1,002,156

1,291,593

1,162,156

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

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

S J Armitage - Director

1.	STATUTORY INFORMATION

Arran Haulage Services 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 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 represents amounts invoiced during the year net, exclusive of Value Added Tax.

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.

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 year was 23 (2018 - 20 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2018

214,442

986,890

1,201,332

Additions

-

95,422

95,422

At 31 March 2019

214,442

1,082,312

1,296,754

DEPRECIATION

At 1 April 2018

91,328

644,959

736,287

Charge for year

4,298

101,406

105,704

At 31 March 2019

95,626

746,365

841,991

NET BOOK VALUE

At 31 March 2019

118,816

335,947

454,763

At 31 March 2018

123,114

341,931

465,045

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

Plant and

machinery

etc

£

COST

At 1 April 2018

66,880

Additions

66,250

At 31 March 2019

133,130

DEPRECIATION

At 1 April 2018

2,786

Charge for year

19,368

At 31 March 2019

22,154

NET BOOK VALUE

At 31 March 2019

110,976

At 31 March 2018

64,094

5.	FIXED ASSET INVESTMENTS

Loans to

group

undertakings

£

At 1 April 2018

450,000

New in year

50,000

At 31 March 2019

500,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

353,551

401,225

Other debtors

17,184

14,172

370,735

415,397

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Hire purchase contracts

35,631

17,198

Trade creditors

138,643

277,127

Taxation and social security

72,256

30,472

Other creditors

29,820

28,917

276,350

353,714

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Hire purchase contracts

45,766

42,994

9.	SECURED DEBTS

D S Bannatyne and C S Warwick hold a charge, dated 8 September 2016, over a piece of ground forming part of

the Home Farm Buildings, Brodick KA27 8DD.