ASC Communications Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC338374 (Scotland)

Unaudited Financial Statements for the Year Ended 30 June 2019

for

ASC Communications Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

Mr N D Collie

SECRETARY:

Burnett & Reid

REGISTERED OFFICE:

15 Golden Square

Aberdeen

Aberdeenshire

AB10 1WF

REGISTERED NUMBER:

SC338374 (Scotland)

ACCOUNTANTS:

The Grant Considine Partnership

Chartered Accountants

46 High Street

Banchory

Aberdeenshire

AB31 5SR

FIXED ASSETS

Tangible assets

5

2,175

531

CURRENT ASSETS

Debtors

6

68,141

56,780

Cash at bank

353

5,161

68,494

61,941

CREDITORS

Amounts falling due within one year

7

12,322

8,171

NET CURRENT ASSETS

56,172

53,770

TOTAL ASSETS LESS CURRENT LIABILITIES

58,347

54,301

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

58,247

54,201

SHAREHOLDERS' FUNDS

58,347

54,301

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

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

The financial statements were approved by the director on 12 March 2020 and were signed by:

Mr N D Collie - Director

1.	STATUTORY INFORMATION

ASC Communications 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.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Section 1A 'Small Entities of Financial

Reporting Standard 102'. The Financial Reporting Standard applicable to the UK and Republic of Ireland and

with the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements

In the opinion of the directors, ASC Communication Limited was part of a small group. The company has

therefore taken advantage of the exemption provided by Section 398 of the Companies Act 2006 not to prepare

group accounts.

The accounts present information about the company as an individual undertaking and not about its group.

Revenue recognition

Turnover represents revenue earned under a variety of contracts to provide services and advice to third parties.

Revenue is recognised as earned when, and to the extent that, the firm obtains the right to consideration in

exchange for its performance under those contracts.

It is measured at the fair value of the right to consideration, which represents amounts chargeable to clients,

including recoverable expenses and disbursements, but excluding Value Added Tax.

For incomplete contracts, an assessment is made of the extent to which revenue is earned. This assessment takes

into account the nature of the assignment, its stage of completion and the relevant contract terms.

Unbilled revenue is included in debtors.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated

impairment losses.

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

life.

Computer Equipment 33.33% on reducing balance.

Tenants Improvements 20% straight line.

Financial instruments

The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors and

directors' loans.

Directors' loans, being repayable on demand, trade debtors and trade creditors are measured at the undiscounted

amount of cash or other consideration expected to be paid or received.

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

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

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

lease.

4.	EMPLOYEES AND DIRECTORS

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

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 July 2018

819

Additions

2,024

At 30 June 2019

2,843

DEPRECIATION

At 1 July 2018

288

Charge for year

380

At 30 June 2019

668

NET BOOK VALUE

At 30 June 2019

2,175

At 30 June 2018

531

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

6,796

5,780

Other debtors

61,345

51,000

68,141

56,780

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

3,866

6,960

Taxation and social security

576

736

Other creditors

7,880

475

12,322

8,171

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2019

2018

£

£

Within one year

6,000

-

9.	POST BALANCE SHEET EVENTS

Coltest Ltd, a company that is also a 100% owned subsidiary of Braeside Business Developments Ltd and part

of the same group as ASC Communications Ltd, was sold. The loan of £61,000 due from Coltest Ltd to ASC

Communications Ltd was transferred to the parent company, Braeside Business Developments Ltd at the date of

sale.