James Bolland Engineering Limited - Accounts to registrar - small 16.3

REGISTERED NUMBER: SC086642 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 AUGUST 2015 TO 31 MARCH 2016

FOR

JAMES BOLLAND ENGINEERING LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

J R Mincher

Mrs B A Mincher

SECRETARY:

D F Church

REGISTERED OFFICE:

Block 4, Units 2/3

Third Road, Blantyre Industrial Estate

High Blantyre

Glasgow

G72 0UP

REGISTERED NUMBER:

SC086642 (Scotland)

ACCOUNTANTS:

Thomas Barrie & Co LLP

Atlantic House

1a Cadogan Street

Glasgow

G2 6QE

FIXED ASSETS

126,504

Tangible assets

4

87,929

CURRENT ASSETS

205,933

Stocks

32,820

387,841

Debtors

5

209,844

12,073

Cash at bank and in hand

17,831

605,847

260,495

CREDITORS

499,155

Amounts falling due within one year

6

435,287

106,692

NET CURRENT (LIABILITIES)/ASSETS

(174,792

)

233,196

TOTAL ASSETS LESS CURRENT LIABILITIES

(86,863

)

CREDITORS

(37,905

)

Amounts falling due after more than one year

7

(25,206

)

(4,408

)

PROVISIONS FOR LIABILITIES

(108

)

190,883

NET (LIABILITIES)/ASSETS

(112,177

)

CAPITAL AND RESERVES

100

Called up share capital

100

190,783

Retained earnings

(112,277

)

190,883

SHAREHOLDERS' FUNDS

(112,177

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2016 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 21 December 2016 and were signed on its behalf by:

J R Mincher - Director

1.	STATUTORY INFORMATION

James Bolland Engineering 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

This is the first year in which the financial statements have been prepared in accordance with FRS102. Refer to

Note 11 for information in respect of the transition.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

33% on cost, 25% on reducing balance, 15% on cost and 10% on cost

Government grants

Deferred government grants in respect of capital expenditure are treated as deferred income and are credited to

the profit and loss account over the estimated useful life of the assets to which they relate.

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 includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

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.

Going concern

During the period, the company incurred losses of £303,060, and at the period end, its liabilities exceeded its

assets by £112,177. Subsequent to the period end, the entire share capital of the company has been acquired by

Glenalmond Group Ltd, who will support the company for the foreseeable future until it is once again

self-sufficient.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 21 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 August 2015

1,060,251

Additions

2

Disposals

(228,841

)

At 31 March 2016

831,412

DEPRECIATION

At 1 August 2015

933,747

Charge for period

32,432

Eliminated on disposal

(222,696

)

At 31 March 2016

743,483

NET BOOK VALUE

At 31 March 2016

87,929

At 31 July 2015

126,504

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 August 2015

149,945

Disposals

(8,100

)

At 31 March 2016

141,845

DEPRECIATION

At 1 August 2015

80,723

Charge for period

5,692

Eliminated on disposal

(4,683

)

At 31 March 2016

81,732

NET BOOK VALUE

At 31 March 2016

60,113

At 31 July 2015

69,222

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade debtors

202,641

366,948

Amounts owed by associates

-

8,389

Other debtors

7,203

12,504

209,844

387,841

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Hire purchase contracts

21,435

29,035

Trade creditors

28,275

50,718

Amounts owed to group undertakings

202,464

152,464

Taxation and social security

43,850

60,262

Other creditors

139,263

206,676

435,287

499,155

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2016

2015

£

£

Hire purchase contracts

25,206

37,905

8.	SECURED DEBTS

The following secured debts are included within creditors:

2016

2015

£

£

Invoice financing

111,672

183,083

Other creditors includes an amount in relation to invoice financing which is secured by means of a Floating

Charge over all sums due or becoming due in favour of Royal Bank of Scotland Invoice Finance.

9.	RELATED PARTY DISCLOSURES

There were no material related party transactions during the year. The company has taken advantage of the

exemption from providing information about transactions within the group.

10.	FIRST YEAR ADOPTION

There were no items requiring adjustment as part of the process of transition to FRS102, nor were there material

changes to the accounting policies being applied.