Scott - Drummond Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01317360 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 September 2019

for

Scott - Drummond Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S King

J King

SECRETARY:

S King

REGISTERED OFFICE:

Citygrove Trading Estate

Woodside Road

Eastleigh

Hampshire

SO50 4ET

REGISTERED NUMBER:

01317360 (England and Wales)

ACCOUNTANTS:

Johnston Wood Roach Limited

24 Picton House

Hussar Court

Waterlooville

Hampshire

PO7 7SQ

FIXED ASSETS

Tangible assets

4

101,018

103,296

Investments

5

100

100

101,118

103,396

CURRENT ASSETS

Stocks

357,646

353,232

Debtors

6

228,526

186,750

Cash at bank and in hand

90,511

154,198

676,683

694,180

CREDITORS

Amounts falling due within one year

7

420,993

464,962

NET CURRENT ASSETS

255,690

229,218

TOTAL ASSETS LESS CURRENT LIABILITIES

356,808

332,614

CREDITORS

Amounts falling due after more than one year

8

(15,083

)

(10,417

)

PROVISIONS FOR LIABILITIES

(14,560

)

(14,642

)

NET ASSETS

327,165

307,555

CAPITAL AND RESERVES

Called up share capital

9

50,000

50,000

Capital redemption reserve

10

100

100

Retained earnings

10

277,065

257,455

SHAREHOLDERS' FUNDS

327,165

307,555

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

The members have not required the company to obtain an audit of its financial statements for the year 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 28 January 2020 and were signed on its behalf by:

S King - Director

J King - Director

1.	STATUTORY INFORMATION

Scott - Drummond Limited is a private company, limited by shares , registered in England and Wales. 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 (£).

Accounts are rounded to the nearest pound.

The accounts represent the company as an individual entity.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Short leasehold

-

20% on cost

Plant and machinery

-

20% on cost

Fixtures and fittings

-

33% on cost, 20% on cost and 20% on reducing balance

Motor vehicles

-

25% on reducing balance

Rental equipment

-

10% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at

the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

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 year was 6 (2018 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Short

Plant and

and

leasehold

machinery

fittings

£

£

£

COST

At 1 October 2018

23,329

17,743

19,558

Additions

-

608

3,682

At 30 September 2019

23,329

18,351

23,240

DEPRECIATION

At 1 October 2018

22,761

15,165

14,960

Charge for year

19

1,172

2,305

Eliminated on disposal

-

-

-

At 30 September 2019

22,780

16,337

17,265

NET BOOK VALUE

At 30 September 2019

549

2,014

5,975

At 30 September 2018

568

2,578

4,598

Motor

Rental

vehicles

equipment

Totals

£

£

£

COST

At 1 October 2018

124,085

62,825

247,540

Additions

23,596

-

27,886

Disposals

(28,994

)

-

(28,994

)

At 30 September 2019

118,687

62,825

246,432

DEPRECIATION

At 1 October 2018

67,507

23,851

144,244

Charge for year

14,536

6,282

24,314

Eliminated on disposal

(23,144

)

-

(23,144

)

At 30 September 2019

58,899

30,133

145,414

NET BOOK VALUE

At 30 September 2019

59,788

32,692

101,018

At 30 September 2018

56,578

38,974

103,296

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

Motor

vehicles

£

COST

At 1 October 2018

40,346

Additions

23,596

At 30 September 2019

63,942

DEPRECIATION

At 1 October 2018

9,905

Charge for year

8,255

At 30 September 2019

18,160

NET BOOK VALUE

At 30 September 2019

45,782

At 30 September 2018

30,441

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 October 2018

and 30 September 2019

100

NET BOOK VALUE

At 30 September 2019

100

At 30 September 2018

100

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.19

30.9.18

£

£

Trade debtors

214,170

172,400

Amounts owed by group undertakings

792

1,742

Other debtors

13,564

12,608

228,526

186,750

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.19

30.9.18

£

£

Hire purchase contracts

23,964

10,000

Trade creditors

276,139

305,312

Taxation and social security

104,025

133,251

Other creditors

16,865

16,399

420,993

464,962

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.19

30.9.18

£

£

Hire purchase contracts

15,083

10,417

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.19

30.9.18

value:

£

£

37,500

Ordinary A

£1

37,500

37,500

12,500

Ordinary B

£1

12,500

12,500

50,000

50,000

10.

RESERVES

Capital

Retained

redemption

earnings

reserve

Totals

£

£

£

At 1 October 2018

257,455

100

257,555

Profit for the year

267,110

267,110

Dividends

(247,500

)

(247,500

)

At 30 September 2019

277,065

100

277,165

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr S King by virtue of his majority shareholding.