Algo Business Centre Limited - Accounts to registrar (filleted) - small 17.3
Algo Business Centre Limited - Accounts to registrar (filleted) - small 17.3
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 30 June 2017 |
| for |
| Algo Business Centre Limited |
| Algo Business Centre Limited (Registered number: SC278962) |
| Contents of the Financial Statements |
| for the Year Ended 30 June 2017 |
| Page |
| Balance Sheet | 1 |
| Notes to the Financial Statements | 2 |
| Algo Business Centre Limited (Registered number: SC278962) |
| Balance Sheet |
| 30 June 2017 |
| 30.6.17 | 30.6.16 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the director on |
| Algo Business Centre Limited (Registered number: SC278962) |
| Notes to the Financial Statements |
| for the Year Ended 30 June 2017 |
| 1. | STATUTORY INFORMATION |
| Algo Business Centre Ltd is a private company, limited by shares, domiciled in Scotland, registration number |
| SC278962. The registered office is Mains of Mause, Blairgowrie, PH10 6TE. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents net invoiced sales of services, excluding value added tax. Sales are recognised at the point |
| at which the service is complete. |
| Tangible fixed assets and depreciation |
| Sheds | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any |
| incidental costs of acquisition. |
| The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all |
| tangible fixed assets are depreciated to nil value. |
| 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 and finance leases are capitalised as tangible assets and |
| depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are |
| included in creditors net of the finance charge allocated to future periods. The finance element of the rental |
| payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net |
| obligation outstanding in each period. |
| Algo Business Centre Limited (Registered number: SC278962) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2017 |
| 2. | ACCOUNTING POLICIES - continued |
| Provisions |
| Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is |
| probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably |
| estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time |
| value of money is material. |
| Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is |
| determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of |
| an outflow with respect to any one item included in the same class of obligations may be small. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Plant and | and |
| Sheds | machinery | fittings | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 July 2016 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 30 June 2017 |
| DEPRECIATION |
| At 1 July 2016 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 30 June 2017 |
| NET BOOK VALUE |
| At 30 June 2017 |
| At 30 June 2016 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.6.17 | 30.6.16 |
| £ | £ |
| Trade debtors |
| Interest in Algo Business Centre | 848,233 | 717,844 |
| Amounts owed by related parties |
| Other debtors |
| Directors' current accounts | 8,692 | 8,692 |
| Prepayments |
| Algo Business Centre Limited (Registered number: SC278962) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2017 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.6.17 | 30.6.16 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Amounts owed to related parties | 21,935 | 65,290 |
| Tax |
| Social security and other taxes |
| VAT | 23,401 | 9,508 |
| Deferred income |
| Accrued expenses |
| 7. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 30 June 2017 and |
| 30 June 2016: |
| 30.6.17 | 30.6.16 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |