LDC Scotland Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: SC422793 (Scotland)

Abbreviated Accounts for the Year Ended 30 September 2015

for

LDC Scotland Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Accountants' Report

7

DIRECTORS:

S M Watson

B D Woods

K J Rose

SECRETARY:

I D Sim

REGISTERED OFFICE:

29 Portland Road

Kilmarnock

KA1 2BY

REGISTERED NUMBER:

SC422793 (Scotland)

ACCOUNTANTS:

IDS and Co

Chartered Accountants

38 Beansburn

Kilmarnock

Ayrshire

KA3 1RL

FIXED ASSETS

Intangible assets

2

9,400

18,219

Tangible assets

3

1,095

974

10,495

19,193

CURRENT ASSETS

Stocks

606,114

287,124

Debtors

180,299

234,720

Cash at bank

61,793

96,320

848,206

618,164

CREDITORS

Amounts falling due within one year

4

189,377

158,194

NET CURRENT ASSETS

658,829

459,970

TOTAL ASSETS LESS CURRENT
LIABILITIES

669,324

479,163

CREDITORS

Amounts falling due after more than one
year

4

734,200

249,014

NET (LIABILITIES)/ASSETS

(64,876

)

230,149

CAPITAL AND RESERVES

Called up share capital

5

2

Share premium

399,998

Profit and loss account

(464,876

)

(169,851

)

SHAREHOLDERS' FUNDS

(64,876

)

230,149

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2015 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 24 June 2016 and were signed on its behalf by:

S M Watson - Director

B D Woods - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The company has a net deficit on the balance sheet as at 30 September 2015 of £64,876. However the directors

consider that the going concern basis of preparation is appropriate due to the continued strategy to invest ahead

of volume in building its brands, as supported by its parent company Crucial Brands Holdings Ltd and its

bankers.

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Intellectual property

The company has incurred expenditure on trade marks and intellectual property for the business, which have

been capitalised as the expenditure is expected to yield economic benefits in the future. These costs are being

amortised on a straight line basis over 3 years to the profit & loss account.

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

-

33% on cost

Stocks

Stocks are valued at the lower of the cost incurred in bringing each product to its present condition and location,

and net realisable value as follows:

Raw materials and goods for resale - Purchase cost

Finished goods - Cost of direct materials and labour plus attributable overheads based on the normal level of

activity

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.

Government grants

Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2014

36,923

Additions

4,637

At 30 September 2015

41,560

AMORTISATION

At 1 October 2014

18,704

Amortisation for year

13,456

At 30 September 2015

32,160

NET BOOK VALUE

At 30 September 2015

9,400

At 30 September 2014

18,219

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2014

2,170

Additions

915

At 30 September 2015

3,085

DEPRECIATION

At 1 October 2014

1,196

Charge for year

794

At 30 September 2015

1,990

NET BOOK VALUE

At 30 September 2015

1,095

At 30 September 2014

974

4.

CREDITORS

Creditors include an amount of £ 79,014 (30.9.14 - £ 93,828 ) for which security has been given.

They also include the following debts falling due in more than five years:

30.9.15

30.9.14

£

Repayable by instalments

4,945

19,759

5.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

30.9.15

30.9.14

value:

£

24,070

Share capital 0.01p

0.01p

2

In August 2015, 24,070 ordinary shares of £0.0001 each were transferred to Crucial Brands Holdings Ltd.

6.	ULTIMATE PARENT COMPANY

Crucial Brands Holdings Ltd is regarded by the directors as being the company's ultimate parent company.

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to six) have

been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of LDC Scotland Limited for the year ended 30 September 2015 which comprise the Profit and Loss

Account, the Balance Sheet, and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants of Scotland, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.org.uk/accountspreparationguidance.

This report is made solely to the Board of Directors of LDC Scotland Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of LDC Scotland Limited and state those matters that we have agreed to state to the Board of Directors of LDC Scotland Limited, as a body, in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at http://www.icas.org.uk/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that LDC Scotland Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of LDC Scotland Limited. You consider that LDC Scotland Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of LDC Scotland Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

IDS and Co

Chartered Accountants

38 Beansburn

Kilmarnock

Ayrshire

KA3 1RL

24 June 2016