Young's Inspection Services Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: SC164217 (Scotland)

Unaudited Financial Statements

for the Year Ended 30 April 2017

for

Young's Inspection Services Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

W A Young

Mrs C A Young

REGISTERED OFFICE:

50 Derbeth Park

Aberdeen

AB15 8TU

REGISTERED NUMBER:

SC164217 (Scotland)

ACCOUNTANTS:

MMG Archbold

Chartered Accountants

182 High Street

Montrose

ANGUS

DD10 8PH

FIXED ASSETS

Tangible assets

4

-

-

Investments

5

20,000

-

Investment property

6

163,370

78,520

183,370

78,520

CURRENT ASSETS

Debtors

7

22,852

13,664

Cash at bank

230,320

327,722

253,172

341,386

CREDITORS

Amounts falling due within one year

8

24,112

28,054

NET CURRENT ASSETS

229,060

313,332

TOTAL ASSETS LESS CURRENT LIABILITIES

412,430

391,852

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

412,330

391,752

SHAREHOLDERS' FUNDS

412,430

391,852

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 2 November 2017 and were signed on its behalf by:

W A Young - Director

Mrs C A Young - Director

1.	STATUTORY INFORMATION

Young's Inspection Services 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.

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.

The directors have a reasonable expectation that the company has adequate resources to continue in

operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of

accounting in preparing the annual financial statements.

Turnover

Turnover and profit on ordinary activities before taxation are attributable to inspection services.

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% on cost

Investment property

Investment property is shown at fair value. Any aggregate surplus or deficit arising from changes in fair value

is recognised in profit or loss.

Hire purchase and leasing commitments

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

lease.

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.

Contracts for services

Where the substance of a contract is that the contractual obligations are performed gradually over time,

revenue is recognised as contract activity progresses to reflect the partial performance of our contractual

obligations. The amount of revenue included reflects the accrual of the right to consideration as contract

activity progresses by reference to value of the work performed.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 May 2016

and 30 April 2017

2,992

DEPRECIATION

At 1 May 2016

and 30 April 2017

2,992

NET BOOK VALUE

At 30 April 2017

-

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

Additions

20,000

At 30 April 2017

20,000

NET BOOK VALUE

At 30 April 2017

20,000

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 May 2016

78,520

Additions

84,850

At 30 April 2017

163,370

NET BOOK VALUE

At 30 April 2017

163,370

At 30 April 2016

78,520

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

22,704

11,774

Other debtors

148

1,890

22,852

13,664

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Taxation and social security

22,621

26,819

Other creditors

1,491

1,235

24,112

28,054

9.	RELATED PARTY DISCLOSURES

W A Young

Director & Shareholder

W Young operated a director's loan throughout the year where he was advanced by the company £2,166 and

repaid £4,084. The loan is operated on an interest free basis.

2017

2016

£

£

Amount due (to)/from related party at the balance sheet date

(183

)

1,734