Bonnar Ready Mix Concrete Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: SC051293 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2017

FOR

BONNAR READY MIX CONCRETE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Daniel Bonnar

SECRETARY:

David Bonnar

REGISTERED OFFICE:

Clachan Gravel Pit

Cairndow

Argyll

PA26 8BH

REGISTERED NUMBER:

SC051293 (Scotland)

ACCOUNTANTS:

Henderson Loggie

Gordon Chambers

90 Mitchell Street

Glasgow

Lanarkshire

G1 3NQ

BANKERS:

Clydesdale Bank plc

120 Argyll Street

Dunoon

PA23 7NB

CURRENT ASSETS

Stocks

8,335

15,410

Debtors

3

121,572

70,055

Cash at bank

20,865

33,975

150,772

119,440

CREDITORS

Amounts falling due within one year

4

145,693

118,093

NET CURRENT ASSETS

5,079

1,347

TOTAL ASSETS LESS CURRENT LIABILITIES

5,079

1,347

CAPITAL AND RESERVES

Called up share capital

6,000

6,000

Retained earnings

(921

)

(4,653

)

SHAREHOLDERS' FUNDS

5,079

1,347

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 2017 in accordance with Section 476 of the Companies Act 2006.

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.

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 director on 7 November 2017 and were signed by:

Daniel Bonnar - Director

1.	STATUTORY INFORMATION

Bonnar Ready Mix Concrete 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 represents net invoiced sales of goods, excluding value added tax.

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

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

lease.

3.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

117,927

67,277

Other debtors

3,645

2,778

121,572

70,055

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

23,332

18,492

Other creditors

122,361

99,601

145,693

118,093

5.	FIRST YEAR ADOPTION

The financial statements of Bonnar Readymix Concrete Limited for the year ended 31 March 2017 are the first

financial statements prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the

UK and Republic of Ireland. The date of transition to FRS 102 was 1 April 2015. No changes have been required

regarding the reported financial position and financial performance for the previous period by the transition to

FRS 102.