SDC INDUSTRIES LIMITED - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC092940 (Scotland)

Unaudited Financial Statements for the Year Ended 31 March 2020

for

SDC INDUSTRIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

David Sullivan B.Eng MIET

Peter Higgins

David Grant

REGISTERED OFFICE:

23 Colvilles Road

Kelvin Industrial Estate

East Kilbride

Glasgow

G75 0RS

REGISTERED NUMBER:

SC092940 (Scotland)

ACCOUNTANTS:

Thomson Currie Accountancy Limited

Chartered Accountants

PO Box 9186

7 Pickering House

Netherton Road

Wishaw

ML2 0YP

FIXED ASSETS

Tangible assets

4

21,853

28,319

CURRENT ASSETS

Stocks

63,290

24,211

Debtors

5

285,015

352,358

Cash at bank and in hand

767,898

778,637

1,116,203

1,155,206

CREDITORS

Amounts falling due within one year

6

218,337

307,801

NET CURRENT ASSETS

897,866

847,405

TOTAL ASSETS LESS CURRENT LIABILITIES

919,719

875,724

PROVISIONS FOR LIABILITIES

4,152

5,381

NET ASSETS

915,567

870,343

CAPITAL AND RESERVES

Called up share capital

7

17

17

Capital redemption reserve

8

83

83

Retained earnings

8

915,467

870,243

SHAREHOLDERS' FUNDS

915,567

870,343

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 16 October 2020 and were signed on its behalf by:

David Sullivan B.Eng MIET - Director

Peter Higgins - Director

1.	STATUTORY INFORMATION

SDC INDUSTRIES 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 consideration received or receivable, excluding value added tax. Turnover from the

sale of goods is recognised at the date of sale, and turnover from the provision of services is recognised on

completion of the service.

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

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

15% on reducing balance

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 Profit and Loss Account,

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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

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

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 15 (2019 - 18 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2019

and 31 March 2020

45,457

1,780

46,057

14,659

107,953

DEPRECIATION

At 1 April 2019

42,835

1,711

23,871

11,217

79,634

Charge for year

393

10

5,547

516

6,466

At 31 March 2020

43,228

1,721

29,418

11,733

86,100

NET BOOK VALUE

At 31 March 2020

2,229

59

16,639

2,926

21,853

At 31 March 2019

2,622

69

22,186

3,442

28,319

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade debtors

270,336

339,766

Other debtors

14,679

12,592

285,015

352,358

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade creditors

114,291

182,139

Taxation and social security

87,139

111,689

Other creditors

16,907

13,973

218,337

307,801

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.20

31.3.19

value:

£

£

17

Ordinary

£1

17

17

8.

RESERVES

Capital

Retained

redemption

earnings

reserve

Totals

£

£

£

At 1 April 2019

870,243

83

870,326

Profit for the year

67,224

67,224

Dividends

(22,000

)

(22,000

)

At 31 March 2020

915,467

83

915,550

9.	OTHER FINANCIAL COMMITMENTS

At 31 March 2020 the company has future financial commitments totalling £157,500 which are not included in

the balance sheet. (At 31 March 2019 - £202,500). These relate to operating lease payments which expire

between 2 to 5 years from the balance sheet date.

10.	ULTIMATE CONTROLLING PARTY