Top Scot Promotions Limited - Abbreviated accounts 16.3

Top Scot Promotions Limited - Abbreviated accounts 16.3


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REGISTERED NUMBER: SC182637 (Scotland)















Abbreviated Accounts for the Period 1 March 2015 to 31 August 2016

for

Top Scot Promotions Limited

Top Scot Promotions Limited (Registered number: SC182637)






Contents of the Abbreviated Accounts
for the Period 1 March 2015 to 31 August 2016




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 4

Chartered Accountants' Report 6

Top Scot Promotions Limited

Company Information
for the Period 1 March 2015 to 31 August 2016







DIRECTORS: Mrs M D Johnston
J A Johnston
J N Johnston





SECRETARY: Mrs M D Johnston





REGISTERED OFFICE: IDS & Co
38 Beansburn
Kilmarnock
Ayrshire
KA3 1RL





REGISTERED NUMBER: SC182637 (Scotland)





ACCOUNTANTS: IDS and Co
Chartered Accountants
38 Beansburn
Kilmarnock
Ayrshire
KA3 1RL

Top Scot Promotions Limited (Registered number: SC182637)

Abbreviated Balance Sheet
31 August 2016

31.8.16 28.2.15
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 2 208,920 268,636

CURRENT ASSETS
Debtors 179,176 176,008
Cash at bank 2,701 28,518
181,877 204,526
CREDITORS
Amounts falling due within one year 66,334 39,993
NET CURRENT ASSETS 115,543 164,533
TOTAL ASSETS LESS CURRENT
LIABILITIES

324,463

433,169

CREDITORS
Amounts falling due after more than one
year

628,947

573,947
NET LIABILITIES (304,484 ) (140,778 )

CAPITAL AND RESERVES
Called up share capital 3 3,000 3,000
Profit and loss account (307,484 ) (143,778 )
SHAREHOLDERS' FUNDS (304,484 ) (140,778 )

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 August 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.

Top Scot Promotions Limited (Registered number: SC182637)

Abbreviated Balance Sheet - continued
31 August 2016


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 31 May 2017 and were signed on its behalf by:





J N Johnston - Director


Top Scot Promotions Limited (Registered number: SC182637)

Notes to the Abbreviated Accounts
for the Period 1 March 2015 to 31 August 2016

1. ACCOUNTING POLICIES

Going concern
During the period the company made a loss of £163,706 (2015 - £78,934) and has a balance sheet deficit at the
period end of £304,484 ( 2015 - £140,778). However the going concern basis of preparation is appropriate as the
directors, Mr & Mrs Johnston, continue to support the business and have significant directors' loan balances
advanced to the company of £628,947 at the period end.

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 January 2015).

Turnover
Turnover represents net invoiced sales of goods, 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 etc - 10% on cost

2. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 March 2015 320,907
Additions 5,436
Disposals (20,000 )
At 31 August 2016 306,343
DEPRECIATION
At 1 March 2015 52,271
Charge for period 49,152
Eliminated on disposal (4,000 )
At 31 August 2016 97,423
NET BOOK VALUE
At 31 August 2016 208,920
At 28 February 2015 268,636

3. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.16 28.2.15
value: £    £   
1,000 Ordinary shares £1 1,000 1,000
1,000 Ordinary A £1 1,000 1,000
1,000 Ordinary B £1 1,000 1,000
3,000 3,000

Top Scot Promotions Limited (Registered number: SC182637)

Notes to the Abbreviated Accounts - continued
for the Period 1 March 2015 to 31 August 2016

4. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the period Mrs MD Johnston introduced capital of £15,000 (2015 - £70,000) and the total due at 31
August 2016 was £306,000 (2015 - £291,000).
Mr JN Johnston also introduced capital of £40,000 (2015 - £80,000 ) during the period and had drawings of NIL
(2015 - £18,099). The total due to him at 31 August 2016 was £322,947 (2015 - £282,947).

These loans are interest free and there are no repayment terms.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Top Scot Promotions Limited

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 five)
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 Top Scot Promotions Limited for the period ended 31 August 2016 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 Top Scot Promotions 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 Top Scot Promotions Limited and state those matters that we have agreed to state to the Board of Directors of Top Scot Promotions 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 Top Scot Promotions 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 Top Scot Promotions Limited. You consider that Top Scot Promotions Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Top Scot Promotions 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


31 May 2017