Automatic Protection Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: SC169893 (Scotland)

Unaudited Financial Statements for the Year Ended 31 March 2017

for

Automatic Protection Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

N Harrison

S Harrison

SECRETARY:

Mrs A Harrison

REGISTERED OFFICE:

Apl House Biggar Business Park

5 Market Road

Biggar

Lanarkshire

ML12 6FX

REGISTERED NUMBER:

SC169893 (Scotland)

ACCOUNTANTS:

Sutherland Black

Chartered Accountants

8 Deer Park Avenue

Fairways Business Park

Livingston

West Lothian

EH54 8GA

FIXED ASSETS

Tangible assets

4

74,700

58,255

Investments

5

105,103

131,379

179,803

189,634

CURRENT ASSETS

Stocks

17,762

28,390

Debtors

6

116,906

151,776

Cash at bank and in hand

161,345

93,313

296,013

273,479

CREDITORS

Amounts falling due within one year

7

150,830

164,220

NET CURRENT ASSETS

145,183

109,259

TOTAL ASSETS LESS CURRENT LIABILITIES

324,986

298,893

CREDITORS

Amounts falling due after more than one year

8

(8,115

)

(3,108

)

PROVISIONS FOR LIABILITIES

9

(12,973

)

(10,170

)

NET ASSETS

303,898

285,615

CAPITAL AND RESERVES

Called up share capital

10,000

10,000

Retained earnings

293,898

275,615

SHAREHOLDERS' FUNDS

303,898

285,615

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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 3 August 2017 and were signed on its behalf by:

N Harrison - Director

1.	STATUTORY INFORMATION

Automatic Protection 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.

In respect of long-term contracts and contracts for on-going services, turnover represents

the value of work done in the year, including estimates of amounts not invoiced. Turnover in

respect of long-term contracts and contracts for on-going services is recognised by reference

to the stage of completion.

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

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

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

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.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over

the period of the lease.

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 9 .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 April 2016

63,507

16,174

52,756

132,437

Additions

5,025

-

31,258

36,283

At 31 March 2017

68,532

16,174

84,014

168,720

DEPRECIATION

At 1 April 2016

37,842

8,189

28,151

74,182

Charge for year

4,604

1,197

14,037

19,838

At 31 March 2017

42,446

9,386

42,188

94,020

NET BOOK VALUE

At 31 March 2017

26,086

6,788

41,826

74,700

At 31 March 2016

25,665

7,985

24,605

58,255

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 April 2016

and 31 March 2017

131,379

PROVISIONS

Provision for year

26,276

At 31 March 2017

26,276

NET BOOK VALUE

At 31 March 2017

105,103

At 31 March 2016

131,379

The company has investments in River Surfing Limited, an unquoted company registered in

New Zealand. The investment in the unregistered company in New Zealand is being

amortised over five years which, in the opinion of the directors, is not less than the market

value.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

112,696

144,684

Other debtors

4,210

7,092

116,906

151,776

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Hire purchase contracts

22,467

9,025

Trade creditors

42,890

77,357

Taxation and social security

61,341

35,457

Other creditors

24,132

42,381

150,830

164,220

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Hire purchase contracts

8,115

3,108

9.	PROVISIONS FOR LIABILITIES

2017

2016

£

£

Deferred tax

12,973

10,170

Deferred

tax

£

Balance at 1 April 2016

10,170

Provided during year

2,803

Balance at 31 March 2017

12,973

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the company repaid £8,695 to the directors, resulting in the company

having an outstanding loan to the directors of £5,397 (2016: £15,614). The loan is interest

free and there are no agreed repayment terms.

11.	RELATED PARTY DISCLOSURES

During the year, total dividends of £59,534 (2016 - £115,123) were paid to the directors .

The company was under the control of Mr N Harrison a director and members of his close

family throughout the current year and previous year. Mr Harrison is the managing director

and is personally interested in 17% (2016 - 17%) of the company's share capital. In addition

his wife and other family members control in aggregate the remainder of the company's

issued share capital.

The company paid rent to Mr N Harrison's pension fund in the year amounting to £17,327

(2016 - £15,661).