Automatic Protection Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC169893 (Scotland)

Unaudited Financial Statements for the Year Ended 31 March 2019

for

Automatic Protection Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

N Harrison

S Harrison

Mrs P Harrison

REGISTERED OFFICE:

Apl House Biggar Business Park

5 Market Road

Biggar

Lanarkshire

ML12 6FX

REGISTERED NUMBER:

SC169893 (Scotland)

ACCOUNTANTS:

Sutherland Black

Chartered Accountants

8 Deer Park Avenue

Fairways Business Park

Livingston

West Lothian

EH54 8GA

FIXED ASSETS

Tangible assets

4

83,193

59,312

Investments

5

52,551

78,827

135,744

138,139

CURRENT ASSETS

Stocks

12,676

12,676

Debtors

6

191,611

146,460

Cash at bank and in hand

173,357

139,837

377,644

298,973

CREDITORS

Amounts falling due within one year

7

157,037

174,323

NET CURRENT ASSETS

220,607

124,650

TOTAL ASSETS LESS CURRENT LIABILITIES

356,351

262,789

CREDITORS

Amounts falling due after more than one year

8

(10,767

)

-

PROVISIONS FOR LIABILITIES

9

(14,550

)

(9,737

)

NET ASSETS

331,034

253,052

CAPITAL AND RESERVES

Called up share capital

10

10,000

10,000

Retained earnings

11

321,034

243,052

SHAREHOLDERS' FUNDS

331,034

253,052

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 16 September 2019 and were signed on its behalf by:

S Harrison - Director

1.	STATUTORY INFORMATION

Automatic Protection 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 is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

In respect of long-term contracts and contracts for on-going services, turnover represents

the value of work done in the year, including estimates of amounts not invoiced. Turnover in

respect of long-term contracts and contracts for on-going services is recognised by reference

to the stage of completion.

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

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange

ruling at the balance sheet date. Transactions in foreign currencies are translated into

sterling at the rate of exchange ruling at the date of transaction. Exchange differences are

taken into account in arriving at the operating result.

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 year was 9 (2018 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 April 2018

68,532

16,174

84,014

168,720

Additions

4,414

-

36,070

40,484

At 31 March 2019

72,946

16,174

120,084

209,204

DEPRECIATION

At 1 April 2018

46,358

10,405

52,645

109,408

Charge for year

3,614

865

12,124

16,603

At 31 March 2019

49,972

11,270

64,769

126,011

NET BOOK VALUE

At 31 March 2019

22,974

4,904

55,315

83,193

At 31 March 2018

22,174

5,769

31,369

59,312

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 April 2018

and 31 March 2019

131,379

PROVISIONS

At 1 April 2018

52,552

Provision for year

26,276

At 31 March 2019

78,828

NET BOOK VALUE

At 31 March 2019

52,551

At 31 March 2018

78,827

The company has investments in River Surfing Limited, an unquoted company registered in

New Zealand. The investment in the unregistered company in New Zealand is being

amortised over five years which, in the opinion of the directors, is not less than the market

value.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

185,313

142,013

Other debtors

303

-

Prepayments

5,995

4,447

191,611

146,460

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Hire purchase contracts

11,800

8,115

Trade creditors

71,653

67,443

Tax

35,884

17,217

Social security and other taxes

3,533

29,978

VAT

10,110

28,299

Other creditors

1,668

1,404

Credit Card

2,880

3,054

Directors' current accounts

18,060

13,346

Accrued expenses

1,449

5,467

157,037

174,323

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Hire purchase contracts

10,767

-

9.	PROVISIONS FOR LIABILITIES

2019

2018

£

£

Deferred tax

14,550

9,737

Deferred

tax

£

Balance at 1 April 2018

9,737

Provided during year

4,813

Balance at 31 March 2019

14,550

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

10,000

Ordinary

£1

10,000

10,000

11.

RESERVES

Retained

earnings

£

At 1 April 2018

243,052

Profit for the year

145,982

Dividends

(68,000

)

At 31 March 2019

321,034

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end the company owed the directors a total of £18,060 (2018 - £13,346).

13.	RELATED PARTY DISCLOSURES

Mr N Harrison is a 5% shareholder and in the year the company paid rent to Mr N Harrison's

pension fund in the year amounting to £12,737 (2018 - £14,600).