Kintore Roughcasting Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC245001 (Scotland)

Unaudited Financial Statements for the Year Ended 31 March 2019

for

Kintore Roughcasting Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

7

DIRECTORS:

Mr M A Scott

Mrs J Scott

REGISTERED OFFICE:

Allanvale

The Hill

Kintore

Inverurie

Aberdeenshire

AB51 0YX

REGISTERED NUMBER:

SC245001 (Scotland)

ACCOUNTANTS:

Keltic Accounting Limited

Offices 1 & 8, Unit 1A

Burghmuir Circle

Blackhall Industrial Estate

Inverurie

Aberdeenshire

AB51 4FS

FIXED ASSETS

Tangible assets

5

23,818

41,715

CURRENT ASSETS

Stocks

15,100

15,114

Debtors

6

14,709

25,833

Cash at bank

59,664

49,927

89,473

90,874

CREDITORS

Amounts falling due within one year

7

57,046

58,067

NET CURRENT ASSETS

32,427

32,807

TOTAL ASSETS LESS CURRENT LIABILITIES

56,245

74,522

CREDITORS

Amounts falling due after more than one year

8

(5,418

)

(9,994

)

PROVISIONS FOR LIABILITIES

(4,525

)

(7,926

)

NET ASSETS

46,302

56,602

CAPITAL AND RESERVES

Called up share capital

99

99

Retained earnings

46,203

56,503

SHAREHOLDERS' FUNDS

46,302

56,602

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 13 December 2019 and were signed on its behalf by:

Mr M A Scott - Director

1.	STATUTORY INFORMATION

Kintore Roughcasting 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in

the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies

subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than

where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these

financial statements are rounded to the nearest £.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added

tax and other sales taxes.

Turnover is stated net of VAT and trade discounts. Turnover from the sale of goods is recognised when the goods are

physically delivered to the customer. Turnover from the supply of services represents the value of services provided under

contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where the

contract has only been partially completed at the balance sheet date turnover represents the value of the service provided to

date based on a proportion of the total contract value. Where payments are received from customers in advance of services

provided, the amounts are recorded as Deferred Income and included as part of Creditors due within one year.

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment

losses.

The gain or loss arising on the disposal of an asset is determined as the difference between the proceeds and the carrying value

of the asset and is included in the profit and loss account.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire

purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over

their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future

payments is treated as a liability.

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.

Financial instruments

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction

price including transaction costs and are subsequently carried at amortised cost.

Financial assets are derecognised when the contractual rights to cash flows from the asset expire or are settled or when the

company transfers the risks and rewards of ownership to another entity.

Basic financial liabilities

Basic financial liabilities, which include trade and other creditors and bank loans, are initially recognised at transaction price

and are subsequently carried at amortised cost.

Financial liabilities are derecognised when the company's contractual obligations are discharged.

Provisions

Provisions are recognised when the Company has an obligation at the reporting date as a result of a past event which it is

probable will result in the transfer of economic benefits and that obligation can be estimated reliably.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value

of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that

reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar

charges.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2018 - 6 ) .

5.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 April 2018

104,063

60,429

164,492

Additions

750

-

750

At 31 March 2019

104,813

60,429

165,242

DEPRECIATION

At 1 April 2018

99,820

22,957

122,777

Charge for year

3,540

15,107

18,647

At 31 March 2019

103,360

38,064

141,424

NET BOOK VALUE

At 31 March 2019

1,453

22,365

23,818

At 31 March 2018

4,243

37,472

41,715

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 April 2018

and 31 March 2019

30,929

DEPRECIATION

At 1 April 2018

15,582

Charge for year

7,732

At 31 March 2019

23,314

NET BOOK VALUE

At 31 March 2019

7,615

At 31 March 2018

15,347

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade debtors

11,742

12,446

Other debtors

2,967

13,387

14,709

25,833

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Hire purchase contracts

4,992

4,992

Trade creditors

13,609

16,457

Taxation and social security

32,904

36,591

Other creditors

5,541

27

57,046

58,067

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.19

31.3.18

£

£

Hire purchase contracts

5,418

9,994

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr M A Scott and Mrs J Scott.

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 Kintore Roughcasting Limited for the year ended 31 March 2019 which comprise the Income Statement, Balance Sheet, Statement

of Changes in Equity 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 Kintore Roughcasting 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 Kintore Roughcasting Limited and state those matters that we have agreed to state to the Board of Directors of Kintore Roughcasting 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 Kintore Roughcasting 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 profit of Kintore Roughcasting Limited. You consider that Kintore Roughcasting 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 Kintore Roughcasting 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.

Keltic Accounting Limited

Offices 1 & 8, Unit 1A

Burghmuir Circle

Blackhall Industrial Estate

Inverurie

Aberdeenshire

AB51 4FS

Date: .............................................