Adamson Violins Ltd Company accounts
Adamson Violins Ltd Company accounts
COMPANY REGISTRATION NUMBER:
SC507152
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Financial Statements |
Year ended 31 March 2017
Contents |
Page |
Director's report |
1 |
Statement of comprehensive income |
2 |
Statement of financial position |
3 |
Statement of changes in equity |
4 |
Notes to the financial statements |
5 |
The following pages do not form part of the financial statements
Detailed income statement |
9 |
Notes to the detailed income statement |
10 |
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Director's Report |
Year ended 31 March 2017
The director presents his report and the unaudited financial statements of the company for the year ended
31 March 2017
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Director
The director who served the company during the year was as follows:
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Small company provisions
This report was approved by the board of directors on
31 May 2017
and signed on behalf of the board by:
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Director |
Company Secretary |
Registered office: |
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Scotland |
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Statement of Comprehensive Income |
Year ended 31 March 2017
2017 |
2016 |
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Note |
£ |
£ |
Turnover |
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Cost of sales |
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Gross profit |
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Distribution costs |
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Administrative expenses |
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Operating profit |
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Profit before taxation |
5 |
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Tax on profit |
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Profit for the financial year and total comprehensive income |
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All the activities of the company are from continuing operations.
The company has no other recognised items of income and expenses other than the results for the year as set out above.
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Statement of Financial Position |
2017 |
2016 |
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Note |
£ |
£ |
£ |
Fixed assets
Tangible assets |
6 |
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Current assets
Debtors |
7 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
8 |
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Net current assets |
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Total assets less current liabilities |
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Net assets |
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Capital and reserves
Called up share capital |
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Profit and loss account |
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Members funds |
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Director's responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
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These financial statements were approved by the
board of directors
and authorised for issue on
31 May 2017
, and are signed on behalf of the board by:
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Director |
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Company registration number:
SC507152
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Statement of Changes in Equity |
Year ended 31 March 2017
Called up share capital |
Profit and loss account |
Total |
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£ |
£ |
£ |
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At 1 April 2015 |
– |
– |
– |
Profit for the year |
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-------- |
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Total comprehensive income for the year |
– |
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Issue of shares |
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– |
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Dividends paid and payable |
– |
(
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(
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Total investments by and distributions to owners |
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(
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(
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At 31 March 2016 |
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Profit for the year |
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Total comprehensive income for the year |
– |
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Dividends paid and payable |
– |
(
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(
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Total investments by and distributions to owners |
– |
(
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(
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At 31 March 2017 |
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Notes to the Financial Statements |
Year ended 31 March 2017
1.
General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 1 Cedar Court, Stirling, FK16 6JQ, Scotland.
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:
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Impairment of fixed assets
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
2
(2016:
1
).
5.
Profit before taxation
Profit before taxation is stated after charging:
2017 |
2016 |
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£ |
£ |
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Depreciation of tangible assets |
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------- |
------- |
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6.
Tangible assets
Plant and machinery |
Total |
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£ |
£ |
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Cost |
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At 1 April 2016 and 31 March 2017 |
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Depreciation |
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At 1 April 2016 |
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Charge for the year |
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------- |
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At 31 March 2017 |
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Carrying amount |
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At 31 March 2017 |
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At 31 March 2016 |
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7.
Debtors
2017 |
2016 |
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£ |
£ |
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Trade debtors |
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– |
Other debtors |
– |
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------- |
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8.
Creditors:
amounts falling due within one year
2017 |
2016 |
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£ |
£ |
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Corporation tax |
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Other creditors |
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9.
Related party transactions
The company was under the control of Mr Adamson throughout the current and previous year. Mr Adamson is the managing director and majority shareholder. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 8.
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Management Information |
Year ended 31 March 2017
The following pages do not form part of the financial statements.
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Detailed Income Statement |
Year ended 31 March 2017
2017 |
2016 |
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£ |
£ |
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Turnover |
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Cost of sales
Purchases |
13,949
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9,073
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Directors salaries |
10,600
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4,000
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Depreciation of tangible assets |
1,137
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1,516
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25,686
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14,589
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Gross profit |
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Overheads
Distribution costs |
1,700
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470
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Administrative expenses |
11,260
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7,914
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12,960 |
8,384 |
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Operating profit |
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Profit before taxation |
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Notes to the Detailed Income Statement |
Year ended 31 March 2017
2017 |
2016 |
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£ |
£ |
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Distribution costs
Commissions paid |
1,700
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470
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Administrative expenses
Insurance |
482
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510
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Travel and subsistence |
7,006
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1,949
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Telephone |
2,060
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936
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Printing postage and stationery |
793
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1,134
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General expenses (allowable) |
591
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1,051
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Accountancy fees |
200
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2,177
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Bank charges |
128
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157
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11,260
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7,914
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