Angus Campbell Ltd. - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC162315 (Scotland)

ANGUS CAMPBELL LTD.

Financial Statements for the Year Ended 31 January 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A Campbell

REGISTERED OFFICE:

Cannery Road

Stornoway

Isle of Lewis

HS1 2SF

REGISTERED NUMBER:

SC162315 (Scotland)

ACCOUNTANTS:

Mann Judd Gordon Ltd

Chartered Accountants

26 Lewis Street

Stornoway

Isle of Lewis

HS1 2JF

FIXED ASSETS

Tangible assets

4

320,158

373,372

Investments

5

120,930

120,930

441,088

494,302

CURRENT ASSETS

Stocks

6

123,672

121,599

Debtors

7

259,578

263,305

Cash at bank and in hand

124,522

84,091

507,772

468,995

CREDITORS

Amounts falling due within one year

8

158,061

206,661

NET CURRENT ASSETS

349,711

262,334

TOTAL ASSETS LESS CURRENT LIABILITIES

790,799

756,636

CREDITORS

Amounts falling due after more than one year

9

(37,917

)

(70,417

)

PROVISIONS FOR LIABILITIES

(14,714

)

(14,714

)

NET ASSETS

738,168

671,505

CAPITAL AND RESERVES

Called up share capital

5,000

5,000

Retained earnings

733,168

666,505

SHAREHOLDERS' FUNDS

738,168

671,505

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 23 October 2019 and were signed by:

A Campbell - Director

1.	STATUTORY INFORMATION

Angus Campbell 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.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Buildings

-

5% on cost

Improvements to property

-

20% on cost

Plant and machinery

-

15% on cost

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% 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 18 (2018 - 18 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

Buildings

property

machinery

£

£

£

COST

At 1 February 2018

360,000

2,779

82,825

At 31 January 2019

360,000

2,779

82,825

DEPRECIATION

At 1 February 2018

196,000

2,779

61,162

Charge for year

18,000

-

8,355

At 31 January 2019

214,000

2,779

69,517

NET BOOK VALUE

At 31 January 2019

146,000

-

13,308

At 31 January 2018

164,000

-

21,663

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 February 2018

407,267

11,895

4,135

868,901

Additions

1,750

-

-

1,750

At 31 January 2019

409,017

11,895

4,135

870,651

DEPRECIATION

At 1 February 2018

221,464

10,308

3,816

495,529

Charge for year

28,133

397

79

54,964

At 31 January 2019

249,597

10,705

3,895

550,493

NET BOOK VALUE

At 31 January 2019

159,420

1,190

240

320,158

At 31 January 2018

185,803

1,587

319

373,372

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 February 2018

and 31 January 2019

120,930

NET BOOK VALUE

At 31 January 2019

120,930

At 31 January 2018

120,930

The fixed asset investment relates to two freehold properties both of which are valued at cost.

6.

STOCKS

31.1.19

31.1.18

£

£

Stocks

123,672

121,599

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.19

31.1.18

£

£

Trade debtors

223,164

191,354

Other debtors

32,275

11,724

Inter company

-

27,175

Tax

-

25,592

Prepayments and accrued income

4,139

7,460

259,578

263,305

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.19

31.1.18

£

£

Bank loans and overdrafts

-

10,188

Hire purchase contracts

32,500

32,500

Trade creditors

73,640

149,651

Tax

23,485

-

Social security and other taxes

(1,018

)

2,583

VAT

22,458

6,739

Directors' current accounts

1,996

-

Accrued expenses

5,000

5,000

158,061

206,661

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.19

31.1.18

£

£

Hire purchase contracts

37,917

70,417

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.1.19

31.1.18

£

£

Bank loans

-

10,188

The Bank of Scotland has a bond and floating charge over the whole assets of the company.

The Bank of Scotland has standard security over the properties at 15 Seaview Terrace, Stornoway and 44

Seaforth Road, Stornoway.

11.	RELATED PARTY DISCLOSURES

During the year, total dividends of £1,996 were paid to the director .

Included within creditors falling due within one year is a balance due to the director of £1,996 (2018 - £NIL).

There are no repayment terms in place and interest is not charged on the balance.

12.	ULTIMATE CONTROLLING PARTY

The controlling party is A Campbell.