| Maskame & Tait Limited |
| Registered number: |
SC250653 |
| Balance Sheet |
| as at 30 June 2017 |
|
| Notes |
|
|
2017 |
|
|
2016 |
| £ |
£ |
| Fixed assets |
| Intangible assets |
2 |
|
|
28,800 |
|
|
31,200 |
| Tangible assets |
3 |
|
|
20,446 |
|
|
19,546 |
| Investments |
4 |
|
|
100,000 |
|
|
40,729 |
|
|
|
|
149,246 |
|
|
91,475 |
|
| Current assets |
| Stocks |
|
|
4,046 |
|
|
41,743 |
| Debtors |
5 |
|
127,381 |
|
|
137,848 |
| Cash at bank and in hand |
|
|
40,640 |
|
|
31,999 |
|
|
|
172,067 |
|
|
211,590 |
|
| Creditors: amounts falling due within one year |
6 |
|
(90,110) |
|
|
(100,993) |
|
| Net current assets |
|
|
|
81,957 |
|
|
110,597 |
|
| Total assets less current liabilities |
|
|
|
231,203 |
|
|
202,072 |
|
| Creditors: amounts falling due after more than one year |
7 |
|
|
(4,492) |
|
|
(9,750) |
|
|
|
| Net assets |
|
|
|
226,711 |
|
|
192,322 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
200 |
|
|
200 |
| Revaluation reserve |
8 |
|
|
59,271 |
|
|
- |
| Profit and loss account |
|
|
|
167,240 |
|
|
192,122 |
|
| Shareholders' funds |
|
|
|
226,711 |
|
|
192,322 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| G.Maskame |
| Director |
| Approved by the board on 14 September 2017 |
|
| Maskame & Tait Limited |
| Notes to the Accounts |
| for the year ended 30 June 2017 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
|
|
Intangible fixed assets |
|
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Freehold buildings |
over 50 years |
|
Leasehold land and buildings |
over the lease term |
|
Plant and machinery |
over 5 years |
|
Fixtures, fittings, tools and equipment |
over 5 years |
|
|
Investments |
|
Investments in unquoted equity instruments are measured at fair value. Changes in fair value are recognised in profit or loss. Fair value is estimated by using a valuation technique. |
|
|
Stocks |
|
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
|
|
| 2 |
Intangible fixed assets |
£ |
|
Goodwill: |
|
|
Cost |
|
At 1 July 2016 |
60,000 |
|
At 30 June 2017 |
60,000 |
|
|
|
|
|
|
|
|
|
|
Amortisation |
|
At 1 July 2016 |
28,800 |
|
Provided during the year |
2,400 |
|
At 30 June 2017 |
31,200 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 June 2017 |
28,800 |
|
At 30 June 2016 |
31,200 |
|
|
|
|
|
|
|
|
|
|
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years. |
|
|
| 3 |
Tangible fixed assets |
|
|
Land and buildings |
|
Plant and machinery etc |
|
Motor vehicles |
|
Total |
| £ |
£ |
£ |
£ |
|
Cost |
|
At 1 July 2016 |
1,553 |
|
30,014 |
|
100,404 |
|
131,971 |
|
Additions |
- |
|
12,600 |
|
- |
|
12,600 |
|
At 30 June 2017 |
1,553 |
|
42,614 |
|
100,404 |
|
144,571 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 July 2016 |
1,553 |
|
22,764 |
|
88,108 |
|
112,425 |
|
Charge for the year |
- |
|
4,450 |
|
7,250 |
|
11,700 |
|
At 30 June 2017 |
1,553 |
|
27,214 |
|
95,358 |
|
124,125 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 June 2017 |
- |
|
15,400 |
|
5,046 |
|
20,446 |
|
At 30 June 2016 |
- |
|
7,250 |
|
12,296 |
|
19,546 |
|
|
|
|
|
|
|
|
|
|
|
|
| 4 |
Investments |
|
| Other |
| investments |
| £ |
|
Cost |
|
At 1 July 2016 |
40,729 |
|
Additions |
59,271 |
|
|
At 30 June 2017 |
100,000 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Debtors |
2017 |
|
2016 |
| £ |
£ |
|
|
Trade debtors |
127,381 |
|
137,519 |
|
Other debtors |
- |
|
329 |
|
|
|
|
|
|
127,381 |
|
137,848 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due within one year |
2017 |
|
2016 |
| £ |
£ |
|
|
Bank loans and overdrafts |
15,339 |
|
16,199 |
|
Trade creditors |
22,459 |
|
25,764 |
|
Corporation tax |
5,767 |
|
8,083 |
|
VAT |
33,062 |
|
36,012 |
|
Accrued Expenses |
1,700 |
|
1,500 |
|
Other taxes and social security costs |
11,783 |
|
13,435 |
|
|
|
|
|
|
90,110 |
|
100,993 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Creditors: amounts falling due after one year |
2017 |
|
2016 |
| £ |
£ |
|
|
Obligations under finance lease and hire purchase contracts |
4,492 |
|
9,750 |
|
|
|
|
|
|
|
|
|
|
| 8 |
Revaluation reserve |
2017 |
|
2016 |
| £ |
£ |
|
|
Gain on revaluation of land and buildings |
59,271 |
|
- |
|
|
At 30 June 2017 |
59,271 |
|
- |
|
|
|
|
|
|
|
|
|
|
| 9 |
Other information |
|
|
Maskame & Tait Limited is a private company limited by shares and incorporated in Scotland. Its registered office is: |
|
The Pine Lodge |
|
Larchbrook |
|
Inverugie |
|
Peterhead |
|
AB42 3DH |
