Top Scot Promotions Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC182637 (Scotland)

Financial Statements for the Year Ended 31 August 2018

for

Top Scot Promotions Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

5

DIRECTORS:

Mrs M D Johnston

J A Johnston

J N Johnston

SECRETARY:

Mrs M D Johnston

REGISTERED OFFICE:

C/O IDS and CO

38 Beansburn

KILMARNOCK

Ayrshire

KA3 1RL

REGISTERED NUMBER:

SC182637 (Scotland)

ACCOUNTANTS:

IDS and Co

Chartered Accountants

38 Beansburn

Kilmarnock

Ayrshire

KA3 1RL

FIXED ASSETS

Tangible assets

4

148,640

176,860

CURRENT ASSETS

Debtors

5

201,577

202,648

Cash at bank

18,127

28,066

219,704

230,714

CREDITORS

Amounts falling due within one year

6

827,274

759,505

NET CURRENT LIABILITIES

(607,570

)

(528,791

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(458,930

)

(351,931

)

CAPITAL AND RESERVES

Called up share capital

3,000

3,000

Retained earnings

(461,930

)

(354,931

)

(458,930

)

(351,931

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 Statement of Income and Retained Earnings 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:

J N Johnston - Director

1.	STATUTORY INFORMATION

Top Scot Promotions 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.

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

2.	ACCOUNTING POLICIES

Going concern

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.

During the year the company made a loss of £106,999 (2017 - £47,447) and has a balance sheet deficit at the

year end of £458,930 (2017 - £351,931). However the going concern basis of preparation is appropriate as the

directors, Mr & Mrs Johnston, continue to support the business and have significant directors' loan balances

advanced to the company of £825,474 at the year end.

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.

Plant and machinery etc

-

25% on cost and 10% on cost

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 September 2017

and 31 August 2018

309,225

DEPRECIATION

At 1 September 2017

129,483

Charge for year

31,102

At 31 August 2018

160,585

NET BOOK VALUE

At 31 August 2018

148,640

At 31 August 2017

179,742

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.18

31.8.17

£

£

Trade debtors

-

1,935

Amts owed by associated coy

201,577

200,713

201,577

202,648

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.18

31.8.17

£

£

Trade creditors

-

2,254

Net salaries

-

3,087

Directors' current accounts

825,474

752,336

Accrued expenses

1,800

1,828

827,274

759,505

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year Mrs MD Johnston introduced capital of £10,000 (2017 - £NIL) and the total due at 31 August

2018 was £316,000 (2017 - £306,000).

Mr JN Johnston also introduced capital of £63,280 (2017 - £123,429 ) during the year and had drawings of

£142 (2017 - £40). The total due to him at 31 August 2018 was £509,474 (2017 - £446,336).

These loans are interest free and there are no repayment terms.

8.	RELATED PARTY DISCLOSURES

Top Scot NEPA

An entity regsitered in Greece and under the control of the directors.

As at 31 August 2018 the amount owed to Top Scot Promotions Limited was £201,577 (2017 - £200,173)

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 Top Scot Promotions Limited for the year ended 31 August 2018 which comprise the Statement

of Income and Retained Earnings, Balance Sheet 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 Top Scot Promotions 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 Top Scot Promotions Limited and state those matters that we have agreed to state to the Board of Directors of Top Scot Promotions 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 Top Scot Promotions 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 loss of Top Scot Promotions Limited. You consider that Top Scot Promotions 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 Top Scot Promotions 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.

IDS and Co

Chartered Accountants

38 Beansburn

Kilmarnock

Ayrshire

KA3 1RL

31 May 2019