G & K Brown Ltd - Accounts to registrar - small 17.2

REGISTERED NUMBER: SC298213 (Scotland)

Unaudited Financial Statements

For The Year Ended 30th April 2017

for

G & K Brown Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

7

DIRECTOR:

G Brown

SECRETARY:

K Brown

REGISTERED OFFICE:

8 Douglas Street

Hamilton

Lanarkshire

ML3 0BP

REGISTERED NUMBER:

SC298213 (Scotland)

ACCOUNTANTS:

J.S. Mackie & Co. Ltd

8 Douglas Street

Hamilton

Lanarkshire

ML3 0BP

FIXED ASSETS

Intangible assets

4

-

3,000

Tangible assets

5

6,581

8,775

6,581

11,775

CURRENT ASSETS

Debtors

6

-

338

Cash at bank

12,105

12,513

12,105

12,851

CREDITORS

Amounts falling due within one year

7

(25,899

)

(37,156

)

NET CURRENT LIABILITIES

(13,794

)

(24,305

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(7,213

)

(12,530

)

CREDITORS

Amounts falling due after more than one year

8

(333

)

(2,166

)

NET LIABILITIES

(7,546

)

(14,696

)

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

10

(7,646

)

(14,796

)

SHAREHOLDERS' FUNDS

(7,546

)

(14,696

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30th 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 25th October 2017 and were signed by:

G Brown - Director

1.	STATUTORY INFORMATION

G & K Brown 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of twenty five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Motor vehicles

-

25% on reducing balance

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 2 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st May 2016

and 30th April 2017

30,000

AMORTISATION

At 1st May 2016

27,000

Amortisation for year

3,000

At 30th April 2017

30,000

NET BOOK VALUE

At 30th April 2017

-

At 30th April 2016

3,000

5.	TANGIBLE FIXED ASSETS

Motor

vehicles

£

COST

At 1st May 2016

and 30th April 2017

14,093

DEPRECIATION

At 1st May 2016

5,318

Charge for year

2,194

At 30th April 2017

7,512

NET BOOK VALUE

At 30th April 2017

6,581

At 30th April 2016

8,775

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

-

338

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Hire purchase contracts

1,999

3,282

Trade creditors

24

(1

)

Visa creditor

-

518

Tax

5,557

4,011

Social security and other taxes

742

1,191

VAT

1,307

2,094

Directors' current accounts

14,590

24,661

Accrued expenses

1,680

1,400

25,899

37,156

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Hire purchase contracts

333

2,166

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

100

Ordinary

£1

100

100

10.

RESERVES

Retained

earnings

£

At 1st May 2016

(14,796

)

Profit for the year

17,150

Dividends

(10,000

)

At 30th April 2017

(7,646

)

The following reproduces the text of the report prepared for the director and members in respect of the

company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other

primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 30th April 2017 set out on pages two to three and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

J.S. Mackie & Co. Ltd

8 Douglas Street

Hamilton

Lanarkshire

ML3 0BP

Date: .............................................