Company Registration No. SC296037 (Scotland)
A-Mac Environmental Limited
Unaudited accounts
for the year ended 31 January 2017
A-Mac Environmental Limited
Unaudited accounts
Contents
A-Mac Environmental Limited
Company Information
for the year ended 31 January 2017
Directors
A MacKillop
E C MacKillop
Company Number
SC296037 (Scotland)
Registered Office
Unit 11b
Balmakeith Industrial Estate
Nairn
IV12 5QW
Accountants
CMM Accountancy (Inverness) Limited
The Green House
Beechwood Business Park North
Inverness
IV2 3BL
A-Mac Environmental Limited
Statement of financial position
as at 31 January 2017
Tangible assets
112,694
88,427
Cash at bank and in hand
105,855
96,042
Creditors: amounts falling due within one year
(236,839)
(208,013)
Net current assets
10,094
58,272
Total assets less current liabilities
122,788
146,699
Creditors: amounts falling due after more than one year
(54,927)
(49,896)
Provisions for liabilities
Deferred tax
(12,826)
(7,664)
Called up share capital
100
100
Profit and loss account
54,935
89,039
Shareholders' funds
55,035
89,139
For the year ending 31 January 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 30 October 2017.
A MacKillop
Director
Company Registration No. SC296037
A-Mac Environmental Limited
Notes to the Accounts
for the year ended 31 January 2017
A-Mac Environmental Limited is a private company, limited by shares, registered in Scotland, registration number SC296037. The registered office and principal place of business is Unit 11b, Balmakeith Industrial Estate, Nairn, IV12 5QW.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 31 January 2017 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 February 2015.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
Straight line over the life of the lease
Plant & machinery
25% straight line
Motor vehicles
20% reducing balance
Fixtures & fittings
25% straight line
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
A-Mac Environmental Limited
Notes to the Accounts
for the year ended 31 January 2017
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 February 2016
19,871
7,756
81,936
14,826
124,389
Additions
3,500
1,686
47,011
1,334
53,531
Disposals
-
-
-
(897)
(897)
At 31 January 2017
23,371
9,442
128,947
15,263
177,023
At 1 February 2016
7,283
6,773
10,767
11,139
35,962
Charge for the year
4,986
705
22,676
-
28,367
At 31 January 2017
12,269
7,478
33,443
11,139
64,329
At 31 January 2017
11,102
1,964
95,504
4,124
112,694
At 31 January 2016
12,588
983
71,169
3,687
88,427
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Motor vehicles
93,553
71,169
Trade debtors
137,378
163,111
A-Mac Environmental Limited
Notes to the Accounts
for the year ended 31 January 2017
7
Creditors: amounts falling due within one year
2017
2016
Obligations under finance leases and hire purchase contracts
28,214
18,133
Trade creditors
93,780
71,720
Amounts owed to group undertakings and other participating interests
7,920
625
Taxes and social security
81,539
93,978
Other creditors
3,792
4,101
Loans from directors
19,709
11,995
8
Creditors: amounts falling due after more than one year
2017
2016
Obligations under finance leases and hire purchase contracts
54,927
49,896
9
Operating lease commitments
2017
2016
At 31 January 2017 the company has commitments under non-cancellable operating leases as follows:
Operating leases expiring:
Within two to five years
17,000
25,500
10
Average number of employees
During the year the average number of employees was 7 (2016: 8).
