Euroload Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC461805 (Scotland)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2019

FOR

EUROLOAD LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M Jones

A Rennie

SECRETARY:

REGISTERED OFFICE:

Unit 9 Airside Business Park

Kirkhill Industrial Estate

Dyce

Aberdeen

AB21 0GT

REGISTERED NUMBER:

SC461805 (Scotland)

ACCOUNTANTS:

Bon Accord Accountancy Limited

71 Charleston Road North

Cove

Aberdeen

Aberdeenshire

AB12 3SZ

FIXED ASSETS

Tangible assets

4

8,596

13,471

CURRENT ASSETS

Stocks

94,784

120,443

Debtors

5

95,214

73,007

Cash at bank and in hand

31,319

1,077

221,317

194,527

CREDITORS

Amounts falling due within one year

6

247,266

248,607

NET CURRENT LIABILITIES

(25,949

)

(54,080

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(17,353

)

(40,609

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(17,453

)

(40,709

)

SHAREHOLDERS' FUNDS

(17,353

)

(40,609

)

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 30 August 2019 and were signed on its behalf by:

M Jones - Director

1.	STATUTORY INFORMATION

Euroload 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.

These financial statements have been prepared on a going concern basis because the controlling shareholder and

managing director has pledged to support the company for the foreseeable future.

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

-

33% on cost, 25% on reducing balance and 20% 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 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 4 (2018 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2018

42,769

Additions

2,103

At 31 March 2019

44,872

DEPRECIATION

At 1 April 2018

29,298

Charge for year

6,978

At 31 March 2019

36,276

NET BOOK VALUE

At 31 March 2019

8,596

At 31 March 2018

13,471

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade debtors

84,793

62,490

Other debtors

10,421

10,517

95,214

73,007

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade creditors

42,114

44,917

Taxation and social security

5,507

3,729

Other creditors

199,645

199,961

247,266

248,607

7.	ULTIMATE CONTROLLING PARTY

The controlling party is M Jones.