Foster Holdings (Scotland) Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: SC184543 (Scotland)

Financial Statements

for the Year Ended 31 December 2016

for

Foster Holdings (Scotland) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

E H Foster

REGISTERED OFFICE:

15 Newcraigs Drive

Carmunnock

Glasgow

G76 9AQ

REGISTERED NUMBER:

SC184543 (Scotland)

ACCOUNTANTS:

Henderson & Company

73 Union Street

Greenock

Renfrewshire

PA16 8BG

FIXED ASSETS

Investments

4

625

625

CURRENT ASSETS

Debtors

5

73,058

213,984

Cash at bank

91,653

27,899

164,711

241,883

CREDITORS

Amounts falling due within one year

6

14,803

14,892

NET CURRENT ASSETS

149,908

226,991

TOTAL ASSETS LESS CURRENT LIABILITIES

150,533

227,616

CAPITAL AND RESERVES

Called up share capital

90,000

90,000

Capital redemption reserve

60,000

60,000

Retained earnings

533

77,616

SHAREHOLDERS' FUNDS

150,533

227,616

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 director acknowledges his 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 director on 23 August 2017 and were signed by:

E H Foster - Director

1.	STATUTORY INFORMATION

Foster Holdings (Scotland) 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and

Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the

buyer, usually on despatch of goods; the amount of revenue can be measured reliably; it is probable that the associated

economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be

measured reliably.

Taxation

The tax expense for the year comprises current and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the

statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and

items that are never taxable or deductible. The liability for current tax is calculated using tax rates and laws that have been

enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial

statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are recognised

for all taxable timing differences. Deferred tax assets are recognised for all deductible temporary differences to the extent

that it is probable that taxable profits will be available against which those deductible timing differences can be utilised.

The carrying amount for deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it

is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recoverd.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability

is settled or asset realised, based on tax rates and tax laws that have been enacted or substantively enacted by the end of the

reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in

other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other

comprehensive income or directly in equity respectively.

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.

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2016

and 31 December 2016

625

NET BOOK VALUE

At 31 December 2016

625

At 31 December 2015

625

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Amounts owed by group undertakings

67,000

120,606

Other debtors

6,058

93,378

73,058

213,984

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Taxation and social security

14,353

14,442

Other creditors

450

450

14,803

14,892

7.	RELATED PARTY DISCLOSURES