Euroload Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: SC461805 (Scotland)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2017

FOR

EUROLOAD LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M Jones

A Rennie

SECRETARY:

REGISTERED OFFICE:

Unit 9 Airside Business Park

Kirkhill Industrial Estate

Dyce

Aberdeen

AB21 0GT

REGISTERED NUMBER:

SC461805 (Scotland)

ACCOUNTANTS:

Bon Accord Accountancy Limited

71 Charleston Road North

Cove

Aberdeen

Aberdeenshire

AB21 3SZ

FIXED ASSETS

Tangible assets

4

16,846

22,802

CURRENT ASSETS

Stocks

55,245

82,478

Debtors

5

118,912

117,526

Cash at bank and in hand

50,393

17,848

224,550

217,852

CREDITORS

Amounts falling due within one year

6

268,002

265,433

NET CURRENT LIABILITIES

(43,452

)

(47,581

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(26,606

)

(24,779

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(26,706

)

(24,879

)

SHAREHOLDERS' FUNDS

(26,606

)

(24,779

)

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.

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 6 December 2017 and were signed on its behalf by:

M Jones - Director

1.	STATUTORY INFORMATION

Euroload 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.

These financial statements have been prepared on a going concern basis because the controlling shareholder and

managing director has pledged to support the company for the foreseeable future.

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.

Plant and machinery etc

-

33% on cost, 25% on reducing balance and 20% on cost

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2016

39,491

Additions

1,727

At 31 March 2017

41,218

DEPRECIATION

At 1 April 2016

16,689

Charge for year

7,683

At 31 March 2017

24,372

NET BOOK VALUE

At 31 March 2017

16,846

At 31 March 2016

22,802

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Trade debtors

100,297

102,299

Other debtors

18,615

15,227

118,912

117,526

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Trade creditors

65,047

62,710

Taxation and social security

2,975

2,013

Other creditors

199,980

200,710

268,002

265,433

7.	ULTIMATE CONTROLLING PARTY

The controlling party is M Jones.