Geo.A.Scanlan & Son Limited - Period Ending 2019-07-31

Registration number: 00690994

Geo.A.Scanlan & Son Limited

Unaudited Financial Statements

for the Year Ended 31 July 2019

Alextra Group Ltd
Chartered Certified Accountants
7-9 Macon Court
Crewe
Cheshire
CW1 6EA

Geo.A.Scanlan & Son Limited

Contents

Balance Sheet	1
Notes to the Financial Statements	2 to 3

Geo.A.Scanlan & Son Limited

(Registration number: 00690994)
Balance Sheet as at 31 July 2019

	Note	2019 £	2018 £
Fixed assets
Tangible assets	3	150,114	150,114
Current assets
Debtors	4	215,813	213,885
Cash at bank and in hand		125,356	127,462
		341,169	341,347
Creditors: Amounts falling due within one year	5	(150,566)	(150,358)
Net current assets		190,603	190,989
Net assets		340,717	341,103
Capital and reserves
Called up share capital		17,555	17,555
Profit and loss account		323,162	323,548
Total equity		340,717	341,103

For the financial year ending 31 July 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account and Directors Report has been taken.

Approved and authorised by the Board on 17 October 2019 and signed on its behalf by:
 

.........................................

Miss K Scanlan
Company secretary and director

The notes on pages 2 to 3 form an integral part of these financial statements.

Page 1

Geo.A.Scanlan & Son Limited

Notes to the Financial Statements for the Year Ended 31 July 2019

1	General information

The company is a private company limited by share capital, incorporated in Other.

The address of its registered office is:
The Old Mill
Tricketts Lane
Willaston
Nantwich
Cheshire
CW5 6PZ

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are prepared in Sterling, which is the functional currency of the company. All monetary amounts are rounded to the nearest £.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Page 2

Geo.A.Scanlan & Son Limited

Notes to the Financial Statements for the Year Ended 31 July 2019

Asset class	Depreciation method and rate
Plant and machinery	25% on reducing balance
Fixtures and fittings	15% on reducing balance
Motor vehicles	25% on cost and 25% on reducing balance

3	Tangible assets

	Land and buildings £	Total £
Cost or valuation
At 1 August 2018	150,114	150,114
At 31 July 2019	150,114	150,114
Depreciation
Carrying amount
At 31 July 2019	150,114	150,114
At 31 July 2018	150,114	150,114

4

Debtors

	Note	2019 £	2018 £
Trade debtors		7,126	5,248
Amounts owed by group undertakings and undertakings in which the company has a participating interest		207,470	207,470
Prepayments		1,217	1,167
		215,813	213,885

5

Creditors

Creditors: amounts falling due within one year

	2019 £	2018 £
Due within one year
Trade creditors	52,454	51,664
Taxation and social security	3,133	2,585
Accruals and deferred income	305	305
Other creditors	94,674	95,804
	150,566	150,358

Page 3