Jim Dalziel Plumbing And Heating Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC401707 (Scotland)

Unaudited Financial Statements for the Year Ended 30th June 2019

for

Jim Dalziel Plumbing And Heating Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

5

DIRECTOR:

J L Dalziel

REGISTERED OFFICE:

208 Heathhall Industrial Estate

Heathhall

Dumfries

DUMFRIESSHIRE

DG1 3PH

REGISTERED NUMBER:

SC401707 (Scotland)

ACCOUNTANTS:

Farries Kirk & McVean

Dumfries Enterprise Park

Heathhall

Dumfries

DUMFRIESSHIRE

DG1 3SJ

FIXED ASSETS

Intangible assets

4

30,000

32,500

Tangible assets

5

5,561

6,305

35,561

38,805

CURRENT ASSETS

Stocks

20,000

67,000

Debtors

6

15,358

9,689

Cash at bank and in hand

1,011

1,007

36,369

77,696

CREDITORS

Amounts falling due within one year

7

(70,292

)

(115,020

)

NET CURRENT LIABILITIES

(33,923

)

(37,324

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,638

1,481

PROVISIONS FOR LIABILITIES

(683

)

(743

)

NET ASSETS

955

738

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

855

638

SHAREHOLDERS' FUNDS

955

738

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30th 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 25th June 2020 and were signed by:

J L Dalziel - Director

1.	STATUTORY INFORMATION

Jim Dalziel Plumbing And Heating 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business, £50,000, is being amortised evenly over its

estimated useful life of 20 years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any

accumulated amortisation and any accumulated impairment losses.

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 and 15% on reducing balance

Amounts written off each asset over the estimated useful life represent cost less residual value.

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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings,

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.

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 year was 7 (2018 - 7 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st July 2018

and 30th June 2019

50,000

AMORTISATION

At 1st July 2018

17,500

Charge for year

2,500

At 30th June 2019

20,000

NET BOOK VALUE

At 30th June 2019

30,000

At 30th June 2018

32,500

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st July 2018

18,809

Additions

712

At 30th June 2019

19,521

DEPRECIATION

At 1st July 2018

12,504

Charge for year

1,456

At 30th June 2019

13,960

NET BOOK VALUE

At 30th June 2019

5,561

At 30th June 2018

6,305

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

15,358

9,689

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

12,185

6,103

Hire purchase contracts

-

889

Trade creditors

33,337

29,575

Taxation and social security

24,526

78,440

Other creditors

244

13

70,292

115,020

8.	RELATED PARTY DISCLOSURES

At 30th June 2019, the company owed the director, the sum of £244 (2018 - £13) by way of an interest free directors current

account.

9.	ULTIMATE CONTROLLING PARTY

Mr J Dalziel, sole director, owns 100% of the share capital and therefore has overall control of the company.