Company Registration No. SC445382 (Scotland)
Hutcheon Mearns Ltd
Unaudited accounts
for the year ended 31 March 2019
Hutcheon Mearns Ltd
Unaudited accounts
Contents
Hutcheon Mearns Ltd
Company Information
for the year ended 31 March 2019
Directors
Craig William Hutcheon
Adam Maitland
Company Number
SC445382 (Scotland)
Registered Office
21 Mid Stocket Road
Aberdeen
AB15 5JL
Hutcheon Mearns Ltd
Statement of financial position
as at 31 March 2019
Tangible assets
56,452
10,616
Cash at bank and in hand
319,551
71,456
Creditors: amounts falling due within one year
(435,084)
(328,650)
Net current assets
430,234
197,111
Total assets less current liabilities
486,686
207,727
Provisions for liabilities
Net assets
478,269
207,727
Called up share capital
120
2
Share premium
49,998
49,998
Capital redemption reserve
24
-
Profit and loss account
428,127
157,727
Shareholders' funds
478,269
207,727
For the year ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 31 December 2019.
Craig William Hutcheon
Director
Company Registration No. SC445382
Hutcheon Mearns Ltd
Notes to the Accounts
for the year ended 31 March 2019
Hutcheon Mearns Ltd is a private company, limited by shares, registered in Scotland, registration number SC445382. The registered office is 21 Mid Stocket Road, Aberdeen, AB15 5JL.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
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.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Hutcheon Mearns Ltd
Notes to the Accounts
for the year ended 31 March 2019
4
Tangible fixed assets
Total
5
Operating lease commitments
2019
2018
At 31 March 2019 the company has commitments under non-cancellable operating leases as follows:
Operating leases expiring:
Within two to five years
99,125
31,250
6
Average number of employees
During the year the average number of employees was 11 (2018: 8).
