G H Cook & Son Ltd. - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: SC298457 (Scotland)

Report of the Directors and

Unaudited Financial Statements for the Year Ended 31 March 2017

for

G H Cook & Son Ltd.

Page

Company Information

1

Report of the Directors

2

Abridged Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

G Cook

Mrs K Cook

REGISTERED OFFICE:

Skene Works

Skene Street

Strathmiglo

Fife

KY14 7QL

REGISTERED NUMBER:

SC298457 (Scotland)

ACCOUNTANTS:

Eden Fyfe Accounts Limited

H5, Newark Business Park

Newark Road South

Glenrothes

Fife

KY7 4NS

The directors present their report with the financial statements of the company for the year ended 31 March 2017.

INCORPORATION

The company was incorporated on 9 March 2006 .

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of the provision of joinery services.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 April 2016 to the date of this

report.

G Cook

Mrs K Cook

Both the directors, being eligible, offer themselves for election at the forthcoming first Annual General Meeting.

GOING CONCERN

The financial statements have been prepared on the going concern basis. The directors find it appropriate for the

financial statements to be prepared on this basis despite the net liability position of the company. The company is

reliant upon the continued support of the directors who have confirmed they will not withdraw their directors loan

account to the detriment of other creditors.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to

small companies.

ON BEHALF OF THE BOARD:

G Cook - Director

27 November 2017

FIXED ASSETS

Tangible assets

4

114,006

CURRENT ASSETS

Stocks and work in progress

92,025

Debtors

219,159

311,184

CREDITORS

Amounts falling due within one year

395,573

NET CURRENT LIABILITIES

(84,389

)

TOTAL ASSETS LESS CURRENT LIABILITIES

29,617

CREDITORS

Amounts falling due after more than one year

131,504

NET LIABILITIES

(101,887

)

CAPITAL AND RESERVES

Called up share capital

3

Retained earnings

(101,890

)

SHAREHOLDERS' FUNDS

(101,887

)

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 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2017 in accordance with Section 444(2A) of the Companies Act 2006.

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 27 November 2017 and were signed on its behalf by:

G Cook - Director

1.	STATUTORY INFORMATION

G H Cook & Son Ltd. 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.

Going Concern

The financial statements have been prepared on the going concern basis. The directors find it appropriate for

the financial statements to be prepared on this basis despite the net liability position of the company. The

company is reliant upon the continued support of the directors who have confirmed they will not withdraw

their directors loan account to the detriment of other creditors.

Turnover

Turnover represents net invoiced provision of services during the year, exclusive of value added tax.

Tangible fixed assets

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

Freehold property

-

2% on cost

Plant and machinery

-

20% on reducing balance

Motor vehicles

-

20% on reducing balance

Computer equipment

-

33% on cost

Fixed assets are stated at cost, being purchase price, less accumulated depreciation.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete or

slow moving items. Cost comprises all direct expenditure incurred in bringing stock to its current location and

condition.

Work in progress

Work in progress is valued on the basis of direct costs incurred to the relevant stage of completion. Provision

is made for any foreseeable loss, where appropriate. No element of profit is included in the valuation of

working progress.

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 balance sheet date.

Deferred tax

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

balance sheet 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.

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

The company makes contributions into personal pension funds of certain employees. Contributions payable

are charged to the profit and loss account in the year they are payable.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2016

243,110

Additions

1,051

At 31 March 2017

244,161

DEPRECIATION

At 1 April 2016

119,932

Charge for year

10,223

At 31 March 2017

130,155

NET BOOK VALUE

At 31 March 2017

114,006

At 31 March 2016

123,178

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

£

G Cook

Balance outstanding at start of year

(160,432

)

Amounts advanced

33,928

Amounts repaid

(10,000

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

(136,504

)