Learn in Dunfermline Ltd - Accounts to registrar (filleted) - small 17.3
Learn in Dunfermline Ltd - Accounts to registrar (filleted) - small 17.3
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 July 2017 |
| for |
| Learn in Dunfermline Ltd |
| Learn in Dunfermline Ltd (Registered number: SC482838) |
| Contents of the Financial Statements |
| for the Year Ended 31 July 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Chartered Accountants' Report | 7 |
| Learn in Dunfermline Ltd |
| Company Information |
| for the Year Ended 31 July 2017 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Statutory Auditor |
| Unit 4B Gateway Bus Park |
| Grangemouth |
| Central |
| FK3 8WX |
| Learn in Dunfermline Ltd (Registered number: SC482838) |
| Balance Sheet |
| 31 July 2017 |
| 31.7.17 | 31.7.16 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| Learn in Dunfermline Ltd (Registered number: SC482838) |
| Balance Sheet - continued |
| 31 July 2017 |
| 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 by: |
| Learn in Dunfermline Ltd (Registered number: SC482838) |
| Notes to the Financial Statements |
| for the Year Ended 31 July 2017 |
| 1. | STATUTORY INFORMATION |
| Learn in Dunfermline Ltd is a |
| registered number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Transition to FRS 102 |
| The entity has transitioned from previous UK GAAP to FRS 102 as at 1 August 2016. Details of how FRS 102 |
| has affected the reported financial position and financial performance is given in note 10. |
| 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 |
| Fixtures and fittings | - |
| Computer equipment | - |
| Stocks |
| Work in progress is valued at the lower of cost and net realisable value. |
| Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in |
| bringing stocks to their present location and condition. |
| Financial instruments |
| Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, |
| as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that |
| evidences a residual interest in the assets of the company after deducting all of its liabilities. |
| 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. |
| Learn in Dunfermline Ltd (Registered number: SC482838) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 July 2017 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and | Computer |
| fittings | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 August 2016 |
| and 31 July 2017 |
| DEPRECIATION |
| At 1 August 2016 |
| Charge for year |
| At 31 July 2017 |
| NET BOOK VALUE |
| At 31 July 2017 |
| At 31 July 2016 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.7.17 | 31.7.16 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.7.17 | 31.7.16 |
| £ | £ |
| Bank loans and overdrafts |
| Taxation and social security |
| Other creditors |
| Learn in Dunfermline Ltd (Registered number: SC482838) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 July 2017 |
| 7. | RELATED PARTY DISCLOSURES |
| Creditors include the following amounts which are owed to individuals who were directors of the company during |
| the year: |
| 31.7.17 | 31.7.16 |
| £ | £ |
| Mr G F Casserly | 726 | 8,273 |
| Mrs J E Casserly | 726 | 8,273 |
| 1,452 | 16,546 |
| The maximum balance outstanding during the year amounted to £16,546. |
| The directors' loan account are repayable on demand. |
| Other creditors include the following amount which is owed to a business controlled by the directors; |
| 31.7.17 | 31.07.16 |
| £ | £ |
| KIP McGrath Scotland Ltd | - | 23,296 |
| - | 23,296 |
| The maximum balance outstanding during the year amounted to £23,296. |
| The other creditors balance is repayable on demand. |
| Other debtors include the following amount which is owed to a business controlled by the directors; |
| 31.7.17 | 31.07.16 |
| £ | £ |
| KIP McGrath Scotland Ltd | 13,408 | - |
| 13,408 | - |
| The maximum balance outstanding during the year amounted to £13,408. |
| The other creditors balance is repayable on demand. |
| 8. | FIRST YEAR ADOPTION |
| These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 |
| August 2016. |
| Reconciliation of Equity |
| No transitional adjustments were required. |
| Reconciliation of Profit and Loss for the year |
| No transitional adjustments were required. |
| Chartered Accountants' Report to the Board of Directors |
| on the Unaudited Financial Statements of |
| Learn in Dunfermline Ltd |
| The following reproduces the text of the report prepared for the directors 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 Directors are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
| financial statements of Learn in Dunfermline Ltd for the year ended 31 July 2017 which comprise the Income Statement, |
| Balance Sheet and the related notes from the company's accounting records and from information and explanations you |
| have given us. |
| As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance. |
| This report is made solely to the Board of Directors of Learn in Dunfermline Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Learn in Dunfermline Ltd and state those matters that we have agreed to state to the Board of Directors of Learn in Dunfermline Ltd, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that Learn in Dunfermline Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Learn in Dunfermline Ltd. You consider that Learn in Dunfermline Ltd is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of Learn in Dunfermline Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| Chartered Accountants |
| Statutory Auditor |
| Unit 4B Gateway Bus Park |
| Grangemouth |
| Central |
| FK3 8WX |