GKL Plumbing & Heating Ltd Small abridged accounts
GKL Plumbing & Heating Ltd Small abridged accounts
Statement of Consent to Prepare Abridged Financial Statements |
COMPANY REGISTRATION NUMBER:
SC264632
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Abridged Financial Statements |
Year ended 28 February 2017
Contents |
Page |
Report to the board of directors on the preparation of the unaudited statutory abridged financial statements |
1 |
Abridged statement of financial position |
2 |
Notes to the abridged financial statements |
4 |
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Report to the Board of Directors on the Preparation of the Unaudited Statutory Abridged Financial Statements of
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Year ended 28 February 2017
17-19 Motherwell Road
Carfin
Motherwell
ML1 4EB
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Abridged Statement of Financial Position |
2017 |
2016 |
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Note |
£ |
£ |
£ |
Fixed assets
Tangible assets |
5 |
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Current assets
Stocks |
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Debtors |
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Cash at bank and in hand |
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--------- |
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Creditors: amounts falling due within one year |
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--------- |
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Net current assets |
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-------- |
--------- |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
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Provisions
Taxation including deferred tax |
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-------- |
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Net assets |
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-------- |
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Abridged Statement of Financial Position (continued) |
2017 |
2016 |
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Note |
£ |
£ |
£ |
Capital and reserves
Called up share capital |
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Profit and loss account |
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-------- |
--------- |
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Members funds |
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In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
Directors' responsibilities:
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The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476
;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
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These abridged financial statements were approved by the
board of directors
and authorised for issue on
16 March 2017
, and are signed on behalf of the board by:
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Director |
Director |
Company registration number:
SC264632
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Notes to the Abridged Financial Statements |
Year ended 28 February 2017
1.
General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Unit 3, Greenhill Road, Paisley, PA3 1RQ.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Revenue recognition
Income tax
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Reducing balance |
- |
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- |
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- |
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Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Finance leases and hire purchase contracts
Provisions
Defined contribution plans
4.
Employee numbers
The average number of persons employed by the company during the year, including the directors, amounted to
17
(2016:
18
).
5.
Tangible assets
£ |
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Cost |
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At 1 March 2016 |
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Additions |
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At 28 February 2017 |
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Depreciation |
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At 1 March 2016 |
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Charge for the year |
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At 28 February 2017 |
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Carrying amount |
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At 28 February 2017 |
41,610 |
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At 29 February 2016 |
42,502 |
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6.
Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2017 |
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Balance brought forward |
Advances/ (credits) to the directors |
Amounts repaid |
Balance outstanding |
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£ |
£ |
£ |
£ |
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(
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(
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(
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---- |
--------- |
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------- |
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2016 |
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Balance brought forward |
Advances/ (credits) to the directors |
Amounts repaid |
Balance outstanding |
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£ |
£ |
£ |
£ |
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(
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(
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7.
Related party transactions
The company was under the control of Mr Lough and Mr Hamilton throughout the current and previous year. Mr Lough and Mr Hamilton are both managing directors and majority shareholders. No transactions with related parties were undertaken such as are required to be disclosed.