Volcanic_Rock_Development - Accounts

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Volcanic Rock Developments Ltd for the period ended 30 April 2019 which comprise, the Statement Of Financial Position, the 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 the Institute of Chartered Accountants of Scotland we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/technical-resources/framework-for-the-preparation-of-accounts-revised-january-2017.

This report is made solely to the Board of Directors of Volcanic Rock Developments Ltd, as a body, in accordance with the terms of our engagement letter dated 13 August 2018. Our work has been undertaken solely to prepare for your approval the financial statements of Volcanic Rock Developments Ltd and state those matters that we have agreed to state to the Board of Directors of Volcanic Rock Developments Ltd, as a body, in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at http://www.icas.com/technical-resources/framework-for-the-preparation-of-accounts-revised-january-2017. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Volcanic Rock Developments Ltd and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Volcanic Rock Developments Ltd 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 loss of Volcanic Rock Developments Ltd. You consider that Volcanic Rock Developments Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Volcanic Rock Developments Ltd. 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.

In accordance with section 444 of the Companies Act 2006 all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (S.I. 2008/409)(b).

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial period ended 30 April 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.

Volcanic Rock Developments Ltd is a private company limited by shares incorporated in Scotland. The registered office is Forever Steading, Ley of Barras, Stonehaven, Aberdeenshire, AB39 2UE.

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.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Turnover represents revenue recognised in the accounts. Revenue is recognised when the company fulfils its contractual obligations to customers by supplying goods and services and excludes value added tax.

During the period the directors entered into the following advances and credits with the company:

Alexander Collie and Steven Arthur, directors, together with members of their close families, control the company by virtue of a controlling interest (directly or indirectly) of 100% of the issued ordinary share capital.

Whilst the company has net liabilities of £2,004, included within creditors is the sum of £19,880 owed to the directors. They have confirmed they will not call in the amount due in order to ensure the ongoing viability of the company. The directors therefore consider it to be appropriate for the accounts to be prepared on a going concern basis