JAL Scotland Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: SC452804

JAL SCOTLAND LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2017

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

277

1,041

Investments

5

1

50

278

1,091

CURRENT ASSETS

Debtors

6

3,780

19,030

Cash at bank

11,770

54,745

15,550

73,775

CREDITORS

Amounts falling due within one year

7

6,958

18,595

NET CURRENT ASSETS

8,592

55,180

TOTAL ASSETS LESS CURRENT LIABILITIES

8,870

56,271

PROVISIONS FOR LIABILITIES

55

208

NET ASSETS

8,815

56,063

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

8,715

55,963

SHAREHOLDERS' FUNDS

8,815

56,063

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 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 Profit and loss account has not been delivered.

The financial statements were approved by the director on 16 November 2017 and were signed by:

Mr Scott Cowan - Director

1.	STATUTORY INFORMATION

JAL Scotland Limited is a private company, limited by shares, registered in Scotland. The registered office is 11

Guardwell Crescent, Edinburgh, EH17 7JA.

The financial statements are presented in 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. There were no material departures from that standard. The financial

statements have been prepared under the historical cost convention.

Turnover

Turnover represents the net invoice value of services provided during the year. The company's policy is to

recognise a sale when substantively all risks and rewards in connection with the services have been passed to the

customer.

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 etc

-

33.3% on cost

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Financial instruments

The company only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic

financial instruments are initially recorded at transaction value and subsequently measured at their settlement

value.

Taxation

Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is

calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

The charge for taxation takes into account taxation deferred as a result of timing differences between the

treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in

respect of all timing differences that have originated but not reversed at the balance sheet date. However,

deferred tax assets are recognised only to the extent that the director considers that it is more likely than not that

there will be suitable taxable profits from which the future reversal of the underlying timing differences can be

deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in

the periods in which the timing differences reverse, based on tax rates and laws enacted or substantively enacted

at the balance sheet date.

With the exception of changes arising on the initial recognition of a business combination, the tax expense is

presented either in profit or loss, other comprehensive income or statement of changes in equity depending on the

transaction that resulted in the tax expense.

Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.

Operating lease commitments

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

lease.

Investments

Investments represent a shareholding in an unquoted associated company. These are stated at the lower of cost or

where the difference is material, net asset value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2016 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2016

and 31 March 2017

2,316

DEPRECIATION

At 1 April 2016

1,275

Charge for year

764

At 31 March 2017

2,039

NET BOOK VALUE

At 31 March 2017

277

At 31 March 2016

1,041

5.	FIXED ASSET INVESTMENTS

Interest

in

associate

£

COST

At 1 April 2016

50

Additions

(49

)

At 31 March 2017

1

NET BOOK VALUE

At 31 March 2017

1

At 31 March 2016

50

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Other debtors

3,780

19,030

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Taxation and social security

-

16,081

Other creditors

6,958

2,514

6,958

18,595

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2017 and

31 March 2016:

2017

2016

£

£

Mr Scott Cowan

Balance outstanding at start of year

19,030

14,509

Amounts advanced

27,100

60,049

Amounts repaid

(50,310

)

(55,528

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(4,180

)

19,030

The director's loan was interest free and was repaid during the year.

9.	OPERATING LEASE AGREEMENTS

At the year end the company had operating lease commitments outstanding totalling £5,317 (2016 £9,070).

10.	FIRST YEAR ADOPTION

As required in Section 35 of FRS 102, the balances previously reported under the old UK GAAP at the date of

transition, 1 April 2015, and the prior year end, 31 March 2016 need to be restated for the changes which have

occurred on transition to FRS 102.

No restatement of the Profit and Loss Account or Balance Sheet and no changes to accounting policies have been

required on transition.