ASC Communications Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: SC338374 (Scotland)

Unaudited Financial Statements for the Year Ended 30 June 2017

for

ASC Communications Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

Mr N D Collie

SECRETARY:

Burnett & Reid

REGISTERED OFFICE:

15 Golden Square

Aberdeen

Aberdeenshire

AB10 1WF

REGISTERED NUMBER:

SC338374 (Scotland)

ACCOUNTANTS:

The Grant Considine Partnership

Chartered Accountants

46 High Street

Banchory

Aberdeenshire

AB31 5SR

FIXED ASSETS

Tangible assets

4

796

-

CURRENT ASSETS

Debtors

5

47,483

49,652

Cash at bank

5,691

12,233

53,174

61,885

CREDITORS

Amounts falling due within one year

6

1,131

11,175

NET CURRENT ASSETS

52,043

50,710

TOTAL ASSETS LESS CURRENT LIABILITIES

52,839

50,710

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

52,739

50,610

SHAREHOLDERS' FUNDS

52,839

50,710

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2017 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 13 October 2017 and were signed by:

Mr N D Collie - Director

1.	STATUTORY INFORMATION

ASC Communications 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.	STATEMENT OF COMPLIANCE

These financial statements for the year ended 30 June 2017 are the first financial statements that comply with

FRS 102 Section 1A Small Entities. The date of transition is 1 March 2015. An explanation of how transition

to FRS 102 Section 1A has affected the reported financial position and financial performance is given in the

notes below.

3.	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 with the Companies Act 2006. The financial statements have been prepared under the historical cost

convention.

Revenue recognition

Turnover represents revenue earned under a variety of contracts to provide services and advice to third parties.

Revenue is recognised as earned when, and to the extent that, the firm obtains the right to consideration in

exchange for its performance under those contracts.

It is measured at the fair value of the right to consideration, which represents amounts chargeable to clients,

including recoverable expenses and disbursements, but excluding Value Added Tax.

For incomplete contracts, an assessment is made of the extent to which revenue is earned. This assessment takes

into account the nature of the assignment, its stage of completion and the relevant contract terms.

Unbilled revenue is included in debtors.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Financial instruments

The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors and

directors' loans.

Directors' loans, being repayable on demand, trade debtors and trade creditors are measured at the undiscounted

amount of cash or other consideration expected to be paid or received.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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.

Consolidation

In the opinion of the directors, ASC Communication Limited was part of a small group. The company has

therefore taken advantage of the exemption provided by Section 398 of the Companies Act 2006 not to prepare

group accounts.

The accounts present information about the company as an individual undertaking and not about its group.

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

819

At 30 June 2017

819

DEPRECIATION

Charge for year

23

At 30 June 2017

23

NET BOOK VALUE

At 30 June 2017

796

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

1,410

-

Other debtors

46,073

49,652

47,483

49,652

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Taxation and social security

621

10,441

Other creditors

510

734

1,131

11,175

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 30 June 2017 and the period

ended 30 June 2016:

2017

2016

£

£

Mr N D Collie

Balance outstanding at start of year

9,073

-

Amounts advanced

-

9,073

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

9,073

9,073

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Braeside Business Development Limited,.

by virtue of it's holding of 100% of the ordinary share capital of the company.

9.	FIRST YEAR ADOPTION

The company has not recognised any adjustments on transition to FRS 102 Section 1A from the date of

transition being 1 March 2015.