Professional Sportsturf Design Limited - Accounts to registrar (filleted) - small 18.2

Professional Sportsturf Design Limited - Accounts to registrar (filleted) - small 18.2

PROFESSIONAL SPORTSTURF DESIGN LIMITED - Company Information

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IRIS Accounts Production v20.3.0.228 SC216159 Board of Directors 1.4.19 31.3.20 31.3.20 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureSC2161592019-03-31SC2161592020-03-31SC2161592019-04-012020-03-31SC2161592018-03-31SC2161592018-04-012019-03-31SC2161592019-03-31SC216159ns16:Scotland2019-04-012020-03-31SC216159ns15:PoundSterling2019-04-012020-03-31SC216159ns11:Director12019-04-012020-03-31SC216159ns11:PrivateLimitedCompanyLtd2019-04-012020-03-31SC216159ns11:SmallEntities2019-04-012020-03-31SC216159ns11:AuditExempt-NoAccountantsReport2019-04-012020-03-31SC216159ns11:SmallCompaniesRegimeForDirectorsReport2019-04-012020-03-31SC216159ns11:SmallCompaniesRegimeForAccounts2019-04-012020-03-31SC216159ns11:FullAccounts2019-04-012020-03-31SC21615912019-04-012020-03-31SC216159ns11:Director22019-04-012020-03-31SC216159ns11:CompanySecretary12019-04-012020-03-31SC216159ns11:RegisteredOffice2019-04-012020-03-31SC216159ns6:CurrentFinancialInstruments2020-03-31SC216159ns6:CurrentFinancialInstruments2019-03-31SC216159ns6:ShareCapital2020-03-31SC216159ns6:ShareCapital2019-03-31SC216159ns6:RetainedEarningsAccumulatedLosses2020-03-31SC216159ns6:RetainedEarningsAccumulatedLosses2019-03-31SC216159ns6:NetGoodwill2019-04-012020-03-31SC216159ns6:IntangibleAssetsOtherThanGoodwill2019-04-012020-03-31SC216159ns6:NetGoodwill2019-03-31SC216159ns6:NetGoodwill2020-03-31SC216159ns6:NetGoodwill2019-03-31SC216159ns6:PlantMachinery2019-03-31SC216159ns6:PlantMachinery2019-04-012020-03-31SC216159ns6:PlantMachinery2020-03-31SC216159ns6:PlantMachinery2019-03-31SC216159ns6:CurrentFinancialInstrumentsns6:WithinOneYear2020-03-31SC216159ns6:CurrentFinancialInstrumentsns6:WithinOneYear2019-03-31
REGISTERED NUMBER: SC216159 (Scotland)
















Unaudited Financial Statements for the Year Ended 31 March 2020

for

Professional Sportsturf Design Limited
Professional Sportsturf Design Limited (Registered number: SC216159)






Contents of the Financial Statements
for the Year Ended 31 March 2020




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Professional Sportsturf Design Limited

Company Information
for the Year Ended 31 March 2020







DIRECTORS: W Gillespie
C Gillespie





SECRETARY: C Gillespie





REGISTERED OFFICE: 145 St Vincent Street
Glasgow
G2 5JF





REGISTERED NUMBER: SC216159 (Scotland)





ACCOUNTANTS: McLay McAlister & McGibbon LLP
Chartered Accountants
145 St Vincent Street
Glasgow
G2 5JF
Page 1
Professional Sportsturf Design Limited (Registered number: SC216159)

Balance Sheet
31 March 2020

31.3.20 31.3.19
Notes £    £   
FIXED ASSETS
Intangible assets 4 3,000 6,000
Tangible assets 5 2,257 3,012
5,257 9,012

CURRENT ASSETS
Stocks 11,176 11,506
Debtors 6 50,019 50,640
Cash at bank 7,369 2,490
68,564 64,636
CREDITORS
Amounts falling due within one year 7 (46,404 ) (53,673 )
NET CURRENT ASSETS 22,160 10,963
TOTAL ASSETS LESS CURRENT
LIABILITIES
27,417
19,975

PROVISIONS FOR LIABILITIES (300 ) (400 )
NET ASSETS 27,117 19,575

CAPITAL AND RESERVES
Called up share capital 36,886 36,886
Retained earnings (9,769 ) (17,311 )
SHAREHOLDERS' FUNDS 27,117 19,575

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 notes form part of these financial statements

Page 2 continued...
Professional Sportsturf Design Limited (Registered number: SC216159)

Balance Sheet - continued
31 March 2020


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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 February 2021 and were signed on its behalf by:





W Gillespie - Director


The notes form part of these financial statements

Page 3
Professional Sportsturf Design Limited (Registered number: SC216159)

Notes to the Financial Statements
for the Year Ended 31 March 2020

1. STATUTORY INFORMATION

Professional Sportsturf Design 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. 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 in 2001, is being amortised evenly over its estimated useful life of twenty 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 & machinery - 25% on reducing balance
Computer equipment - 25% on reducing balance
Office Equipment - 25% on reducing balance

The company's policy is to review the remaining useful lives and residual value of all tangible fixed assets on an on-going basis and to adjust the depreciation charge to reflect the remaining useful economic life and residual value.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

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 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.


Page 4 continued...
Professional Sportsturf Design Limited (Registered number: SC216159)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2020

2. ACCOUNTING POLICIES - continued
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.

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 4 (2019 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2019
and 31 March 2020 60,000
AMORTISATION
At 1 April 2019 54,000
Charge for year 3,000
At 31 March 2020 57,000
NET BOOK VALUE
At 31 March 2020 3,000
At 31 March 2019 6,000

Page 5 continued...
Professional Sportsturf Design Limited (Registered number: SC216159)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2020

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2019
and 31 March 2020 29,410
DEPRECIATION
At 1 April 2019 26,398
Charge for year 755
At 31 March 2020 27,153
NET BOOK VALUE
At 31 March 2020 2,257
At 31 March 2019 3,012

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.20 31.3.19
£    £   
Trade debtors 39,317 50,640
Other debtors 10,702 -
50,019 50,640

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.20 31.3.19
£    £   
Taxation and social security 40,409 47,581
Other creditors 5,995 6,092
46,404 53,673

8. RELATED PARTY DISCLOSURES

At the year end the company was due £10,702 (2019: £nil) from the directors. This loan was interest free and was repaid by 31 December 2020.

Page 6