Ross MacArthur Contractor Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC299720 (Scotland)

Financial Statements For The Year Ended 31 March 2019

for

Ross MacArthur Contractor Limited

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

I R MacArthur

REGISTERED OFFICE:

Blairmore Farm

Blairmore

Dunoon

PA23 8TN

REGISTERED NUMBER:

SC299720 (Scotland)

ACCOUNTANTS:

Robb Ferguson

Chartered Accountants

Regent Court

70 West Regent Street

Glasgow

G2 2QZ

FIXED ASSETS

Intangible assets

4

81,692

96,545

Tangible assets

5

383,186

445,775

464,878

542,320

CURRENT ASSETS

Stocks

44,200

34,173

Debtors

215,913

226,621

Cash at bank

45,938

17,321

306,051

278,115

CREDITORS

Amounts falling due within one year

222,861

243,623

NET CURRENT ASSETS

83,190

34,492

TOTAL ASSETS LESS CURRENT LIABILITIES

548,068

576,812

CREDITORS

Amounts falling due after more than one year

(294,105

)

(346,930

)

PROVISIONS FOR LIABILITIES

(72,593

)

(84,697

)

NET ASSETS

181,370

145,185

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

181,270

145,085

SHAREHOLDERS' FUNDS

181,370

145,185

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 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.

All the members have consented to the preparation of an abridged Statement of Comprehensive Income and an abridged Statement of Financial Position for the year ended 31 March 2019 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the director on 19 December 2019 and were signed by:

I R MacArthur - Director

1.	STATUTORY INFORMATION

Ross MacArthur Contractor 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 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 a contract has only been partially completed at the statement of financial position

date turnover represents the value of the service provided to the 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixed plant and equipment

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible

preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit

or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes

recognised in profit or loss.

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 statement of financial position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2018 - 9 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2018

and 31 March 2019

148,532

AMORTISATION

At 1 April 2018

51,987

Amortisation for year

14,853

At 31 March 2019

66,840

NET BOOK VALUE

At 31 March 2019

81,692

At 31 March 2018

96,545

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2018

740,552

Additions

113,960

Disposals

(201,315

)

At 31 March 2019

653,197

DEPRECIATION

At 1 April 2018

294,777

Charge for year

62,131

Eliminated on disposal

(86,897

)

At 31 March 2019

270,011

NET BOOK VALUE

At 31 March 2019

383,186

At 31 March 2018

445,775

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

Totals

£

COST

At 1 April 2018

521,751

Additions

98,310

Disposals

(114,160

)

Transfer to ownership

(109,984

)

At 31 March 2019

395,917

DEPRECIATION

At 1 April 2018

177,345

Charge for year

52,616

Eliminated on disposal

(44,051

)

Transfer to ownership

(66,079

)

At 31 March 2019

119,831

NET BOOK VALUE

At 31 March 2019

276,086

At 31 March 2018

344,406

6.	SECURED DEBTS

The following secured debts are included within creditors:

2019

2018

£

£

Hire purchase contracts

161,641

147,728

7.	RELATED PARTY DISCLOSURES

Ross MacArthur Plant Hire Limited

A company in which I R MacArthur is a shareholder.

Amount owed from related party at balance sheet date is £nil (2018 - £11,831 due to).

Glenfinnart Hydro Limited

A company in which I R MacArthur is a shareholder.

Amount owed from related party at balance sheet date is £nil (2018 - £5,962).

Blairmore Hydro Limited

A company in which I R MacArthur is a shareholder.

Amount owed from related party at balance sheet date is £nil (2018 - £22,813).

8.	ULTIMATE PARENT COMPANY

The ultimate parent company is R MacArthur Group Limited.