Raymond George Limited - Accounts to registrar - small 17.1

REGISTERED NUMBER: SC240623 (Scotland)

Raymond George Limited

Financial Statements For The Year Ended 31 December 2016

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

DIRECTORS:

R George

J E George

SECRETARY:

J E George

REGISTERED OFFICE:

Park House Centre

South Street

Elgin

Moray

IV30 1JB

REGISTERED NUMBER:

SC240623 (Scotland)

ACCOUNTANTS:

The Long Partnership

Park House Centre

South Street

Elgin

IV30 1JB

FIXED ASSETS

Intangible assets

4

3,000

3,500

Tangible assets

5

6,212

8,280

9,212

11,780

CURRENT ASSETS

Debtors

6

13,090

17,178

Cash at bank and in hand

13,570

8,156

26,660

25,334

CREDITORS

Amounts falling due within one year

7

15,843

17,371

NET CURRENT ASSETS

10,817

7,963

TOTAL ASSETS LESS CURRENT LIABILITIES

20,029

19,743

CREDITORS

Amounts falling due after more than one year

8

-

(1,372

)

PROVISIONS FOR LIABILITIES

9

(1,242

)

(1,656

)

NET ASSETS

18,787

16,715

CAPITAL AND RESERVES

Called up share capital

10

1,000

1,000

Retained earnings

11

17,787

15,715

SHAREHOLDERS' FUNDS

18,787

16,715

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 28 April 2017 and were signed on its behalf by:

R George - Director

1.	STATUTORY INFORMATION

Raymond George 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.

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 2002, 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Equipment

-

25% on reducing balance

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 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2016

and 31 December 2016

10,000

AMORTISATION

At 1 January 2016

6,500

Charge for year

500

At 31 December 2016

7,000

NET BOOK VALUE

At 31 December 2016

3,000

At 31 December 2015

3,500

5.	TANGIBLE FIXED ASSETS

Equipment

£

COST

At 1 January 2016

and 31 December 2016

29,972

DEPRECIATION

At 1 January 2016

21,692

Charge for year

2,068

At 31 December 2016

23,760

NET BOOK VALUE

At 31 December 2016

6,212

At 31 December 2015

8,280

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

Equipment

£

COST

At 1 January 2016

and 31 December 2016

15,145

DEPRECIATION

At 1 January 2016

8,056

Charge for year

1,772

At 31 December 2016

9,828

NET BOOK VALUE

At 31 December 2016

5,317

At 31 December 2015

7,089

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Trade debtors

-

7,772

Other debtors

13,090

9,406

13,090

17,178

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Hire purchase contracts

1,372

3,293

Trade creditors

217

3,415

Taxation and social security

12,438

9,345

Other creditors

1,816

1,318

15,843

17,371

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.16

31.12.15

£

£

Hire purchase contracts

-

1,372

9.	PROVISIONS FOR LIABILITIES

31.12.16

31.12.15

£

£

Deferred tax

1,242

1,656

Deferred

tax

£

Balance at 1 January 2016

1,656

Credit to Income Statement during year

(414

)

Balance at 31 December 2016

1,242

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.16

31.12.15

value:

£

£

1,000

Ordinary

£1

1,000

1,000

11.

RESERVES

Retained

earnings

£

At 1 January 2016

15,715

Profit for the year

44,072

Dividends

(42,000

)

At 31 December 2016

17,787

12.	RELATED PARTY DISCLOSURES

During the year, total dividends of £42,000 (2015 - £25,500) were paid to the directors .

Included in other creditors is a interest free directors loan of £775 (2015 - £318) due to R George. There are no

repayment terms.

13.	ULTIMATE CONTROLLING PARTY

The controlling party is R George.

The ultimate controlling party is R George.

The following reproduces the text of the report prepared for the directors and members in respect of the

company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other

primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

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

financial statements of Raymond George Limited for the year ended 31 December 2016 which comprise the Income

Statement, 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 in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Raymond George 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 Raymond George Limited and state those matters that we have agreed to state to the Board of Directors of Raymond George Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Raymond George Limited Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Raymond George 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 profit of Raymond George Limited. You consider that Raymond George 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 Raymond George 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.

The Long Partnership

Park House Centre

South Street

Elgin

IV30 1JB

28 April 2017