Steve Gourlay Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC316729 (Scotland)

Financial Statements for the Period 1 April 2018 to 30 September 2019

for

Steve Gourlay Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

S A Gourlay

Mrs S A Gourlay

SECRETARY:

Mrs S A Gourlay

REGISTERED OFFICE:

23 Marshal Keith Drive

Peterhead

Aberdeenshire

AB42 3FH

REGISTERED NUMBER:

SC316729 (Scotland)

ACCOUNTANTS:

J M Taylor

7 Ythan Terrace

Ellon

Aberdeenshire

AB41 9LJ

FIXED ASSETS

Tangible assets

4

-

9,807

CURRENT ASSETS

Stocks

-

11,523

Debtors

5

11,366

77,623

Cash at bank

77,364

37,479

88,730

126,625

CREDITORS

Amounts falling due within one year

6

63,653

104,073

NET CURRENT ASSETS

25,077

22,552

TOTAL ASSETS LESS CURRENT LIABILITIES

25,077

32,359

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

24,977

32,259

SHAREHOLDERS' FUNDS

25,077

32,359

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 September 2019.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 September 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 applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors on 15 January 2020 and were signed on its behalf by:

S A Gourlay - Director

1.	STATUTORY INFORMATION

Steve Gourlay 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.	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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

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 period was 4 (2018 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2018

42,727

Disposals

(42,727

)

At 30 September 2019

-

DEPRECIATION

At 1 April 2018

32,920

Charge for period

2,366

Eliminated on disposal

(35,286

)

At 30 September 2019

-

NET BOOK VALUE

At 30 September 2019

-

At 31 March 2018

9,807

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.19

31.3.18

£

£

Trade debtors

11,366

76,052

Other debtors

-

1,571

11,366

77,623

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.19

31.3.18

£

£

Trade creditors

279

17,403

Taxation and social security

10,003

21,557

Other creditors

53,371

65,113

63,653

104,073

7.	RELATED PARTY DISCLOSURES

During the period, total dividends of £25,500 (2018 - £78,112) were paid to the directors .

During the year the directors Mr Stephen Gourlay & Mrs Shirley Gourlay advanced the company net amounts

totalling £51,121. This amount remained outstanding at 30/09/2019 and is included within Other creditors in the

notes to the accounts.

8.	ULTIMATE CONTROLLING PARTY

During the year the company was controlled by the director Mr Stephen Gourlay by virtue of his majority 70%

holding in the ordinary share capital of the company.