Mccaul Haulage Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: SC151109 (Scotland)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2017

FOR

MCCAUL HAULAGE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

T J McCaul

W P Allan

A C Fraser

SECRETARY:

T J McCaul

REGISTERED OFFICE:

Strabathie Garage

Murcar

Aberdeen

Grampian

AB23 8BT

REGISTERED NUMBER:

SC151109 (Scotland)

ACCOUNTANTS:

Fyfe Moir & Associates

58 Queens Road

Aberdeen

Grampian

AB15 4YE

FIXED ASSETS

Tangible assets

4

2,377,885

1,489,732

Investment property

5

1,093,530

1,093,530

3,471,415

2,583,262

CURRENT ASSETS

Stocks

5,980

5,980

Debtors

6

994,743

996,055

Cash at bank and in hand

374,996

539,311

1,375,719

1,541,346

CREDITORS

Amounts falling due within one year

7

760,553

721,084

NET CURRENT ASSETS

615,166

820,262

TOTAL ASSETS LESS CURRENT LIABILITIES

4,086,581

3,403,524

CREDITORS

Amounts falling due after more than one year

8

(903,423

)

(253,516

)

PROVISIONS FOR LIABILITIES

10

(170,576

)

(177,437

)

NET ASSETS

3,012,582

2,972,571

CAPITAL AND RESERVES

Called up share capital

11

25,000

25,000

Capital redemption reserve

12

25,000

25,000

Retained earnings

12

2,962,582

2,922,571

SHAREHOLDERS' FUNDS

3,012,582

2,972,571

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 5 December 2017 and were signed on its behalf by:

T J McCaul - Director

1.	STATUTORY INFORMATION

Mccaul Haulage 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.

Turnover

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

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

10% on cost

Plant and machinery

-

25% on cost

Motor vehicles

-

25% on cost and 20% on cost

Office equipment

-

25% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

fair value is recognised in profit or loss.

Stocks

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

moving items.

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2016 - 27 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

property

property

machinery

£

£

£

COST

At 1 October 2016

35,250

203,319

504,235

Additions

1,011,193

1,866

58,000

Disposals

-

-

(114,948

)

At 30 September 2017

1,046,443

205,185

447,287

DEPRECIATION

At 1 October 2016

-

127,685

253,778

Charge for year

-

14,168

36,630

Eliminated on disposal

-

-

(63,668

)

At 30 September 2017

-

141,853

226,740

NET BOOK VALUE

At 30 September 2017

1,046,443

63,332

220,547

At 30 September 2016

35,250

75,634

250,457

Motor

Office

vehicles

equipment

Totals

£

£

£

COST

At 1 October 2016

2,221,352

107,779

3,071,935

Additions

232,300

-

1,303,359

Disposals

(168,788

)

-

(283,736

)

At 30 September 2017

2,284,864

107,779

4,091,558

DEPRECIATION

At 1 October 2016

1,115,778

84,962

1,582,203

Charge for year

271,203

8,167

330,168

Eliminated on disposal

(135,030

)

-

(198,698

)

At 30 September 2017

1,251,951

93,129

1,713,673

NET BOOK VALUE

At 30 September 2017

1,032,913

14,650

2,377,885

At 30 September 2016

1,105,574

22,817

1,489,732

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 October 2016

988,020

Additions

232,300

Transfer to ownership

(419,100

)

At 30 September 2017

801,220

DEPRECIATION

At 1 October 2016

258,696

Charge for year

185,956

Transfer to ownership

(227,714

)

At 30 September 2017

216,938

NET BOOK VALUE

At 30 September 2017

584,282

At 30 September 2016

729,324

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 October 2016

and 30 September 2017

1,093,530

NET BOOK VALUE

At 30 September 2017

1,093,530

At 30 September 2016

1,093,530

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.17

30.9.16

£

£

Trade debtors

825,592

812,254

Loan FMA Properties Ltd

7,640

7,310

Prepayments and accrued income

161,511

176,491

994,743

996,055

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.17

30.9.16

£

£

Other loans

87,844

-

Hire purchase contracts

283,211

314,116

Trade creditors

186,992

172,484

Tax

32,600

78,235

Social security and other taxes

33,984

27,128

VAT

94,990

97,795

Other creditors

16,377

2,165

Accruals and deferred income

24,555

29,161

760,553

721,084

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.17

30.9.16

£

£

Other loans - 2-5 years

712,010

-

Hire purchase contracts

191,413

253,516

903,423

253,516

9.	SECURED DEBTS

The following secured debts are included within creditors:

30.9.17

30.9.16

£

£

Other loans

799,854

-

On 29th June 1994 a floating charge was created over all sums and obligations due or to become due from time

to time by the company to Clydesdale Bank Plc.

On 16th April 2008 a standard security was created over all sums due or to become due to Clydesdale Bank Plc.

On 17th April 2008 a standard security was created over all sums due or to become due to Clydesdale Bank Plc.

On 18th April 2008 a standard security was created over all sums due or to become due to Clydesdale Bank Plc.

On 12th February 2013 a standard security was created over all sums due or to become due to Clydesdale Bank

Plc.

On 17th November 2016 a floating charge was created over the secured assets in favour of the lender Thomas

John McCaul.

On 22nd December 2016 a standard security was created in respect of the subjects at Blackdog Industrial Estate

in favour of Thomas John McCaul.

10.	PROVISIONS FOR LIABILITIES

30.9.17

30.9.16

£

£

Deferred tax

170,576

177,437

Deferred

tax

£

Balance at 1 October 2016

177,437

Accelerated capital allowances

(6,861

)

Balance at 30 September 2017

170,576

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.17

30.9.16

value:

£

£

25,000

Ordinary

1

25,000

25,000

12.

RESERVES

Capital

Retained

redemption

earnings

reserve

Totals

£

£

£

At 1 October 2016

2,922,571

25,000

2,947,571

Profit for the year

96,011

96,011

Dividends

(56,000

)

(56,000

)

At 30 September 2017

2,962,582

25,000

2,987,582

13.	RELATED PARTY DISCLOSURES

During the year T J McCaul, director of the company sold the yard at Blackdog Industrial Estate to the company.

During the year FMA Properties Ltd owes McCaul Haulage Ltd £7,639.65.