Cartech (Peterhead) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC222391 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 August 2020

for

Cartech (Peterhead) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R H Burgess

M Burgess

REGISTERED OFFICE:

15 Ugie Street

Peterhead

Aberdeenshire

AB42 1US

REGISTERED NUMBER:

SC222391 (Scotland)

ACCOUNTANTS:

SBP

Accountants

Glebefield House

21 Links Terrace

Peterhead

Aberdeenshire

AB42 2XA

FIXED ASSETS

Tangible assets

4

185,758

196,218

CURRENT ASSETS

Stocks

9,500

10,500

Debtors

5

13,789

13,541

Cash at bank

45,134

17,349

68,423

41,390

CREDITORS

Amounts falling due within one year

6

119,150

121,063

NET CURRENT LIABILITIES

(50,727

)

(79,673

)

TOTAL ASSETS LESS CURRENT LIABILITIES

135,031

116,545

PROVISIONS FOR LIABILITIES

7,053

9,040

NET ASSETS

127,978

107,505

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

126,978

106,505

SHAREHOLDERS' FUNDS

127,978

107,505

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 May 2021 and were signed on its behalf by:

R H Burgess - Director

1.	STATUTORY INFORMATION

Cartech (Peterhead) 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 represents sales of goods and services, excluding value added tax.

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 cost

Motor vehicles

-

25% on reducing balance

Tangible fixed assets are included at cost less depreciation and impairment. The residual value is reassessed at the end of each accounting period.

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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2019 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Plant and

Motor

property

machinery

vehicles

Totals

£

£

£

£

COST

At 1 September 2019

148,638

126,218

9,700

284,556

Additions

-

3,299

-

3,299

Disposals

-

(54,712

)

-

(54,712

)

At 31 August 2020

148,638

74,805

9,700

233,143

DEPRECIATION

At 1 September 2019

-

85,913

2,425

88,338

Charge for year

-

10,609

1,819

12,428

Eliminated on disposal

-

(53,381

)

-

(53,381

)

At 31 August 2020

-

43,141

4,244

47,385

NET BOOK VALUE

At 31 August 2020

148,638

31,664

5,456

185,758

At 31 August 2019

148,638

40,305

7,275

196,218

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.20

31.8.19

£

£

Trade debtors

13,789

13,541

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.20

31.8.19

£

£

Trade creditors

13,001

15,287

Taxation and social security

26,040

21,007

Other creditors

80,109

84,769

119,150

121,063

7.	SECURED DEBTS

The company has a bank overdraft facility which is secured by means of a standard security over heritable property. In addition, the directors have provided further security personally.