Ingram Architecture And Design Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: SC415706 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2017

FOR

INGRAM ARCHITECTURE AND DESIGN LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A Cranston

S P Govan

REGISTERED OFFICE:

Ingram House

227 Ingram House

Glasgow

G1 1DA

REGISTERED NUMBER:

SC415706 (Scotland)

ACCOUNTANTS:

Profit Counts Ltd

13 Glasgow Road

Paisley

Renfrewshire

PA1 3QS

FIXED ASSETS

Intangible assets

4

15,240

17,780

Tangible assets

5

26,199

14,812

41,439

32,592

CURRENT ASSETS

Debtors

57,987

48,133

Cash at bank and in hand

113,464

26,765

171,451

74,898

CREDITORS

Amounts falling due within one year

96,206

64,278

NET CURRENT ASSETS

75,245

10,620

TOTAL ASSETS LESS CURRENT LIABILITIES

116,684

43,212

CREDITORS

Amounts falling due after more than one year

-

(7,383

)

PROVISIONS FOR LIABILITIES

(2,482

)

(1,319

)

NET ASSETS

114,202

34,510

CAPITAL AND RESERVES

Called up share capital

6

2

2

Retained earnings

7

114,200

34,508

SHAREHOLDERS' FUNDS

114,202

34,510

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2017 in accordance with Section 476 of the Companies Act 2006.

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.

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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 June 2017 in accordance with Section 444(2A) of the Companies Act 2006.

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 28 March 2018 and were signed on its behalf by:

S P Govan - Director

1.	STATUTORY INFORMATION

Ingram Architecture And Design 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.

Information of first-time adoption of FRS 102 is given below in the notes.

Turnover

Turnover is stated net of VAT and trade discounts. Turnover from the sale of goods is recognised when the

goods are physically delivered to the customer. Turnover from the supply of services represents the value of

services provided under contracts to the extent that there is a right to consideration and is recorded at the value

of the consideration due. Where the contract has only been partially completed at the balance sheet date

turnover represents the value of the service provided to date based on a proportion of the total contract value.

Where payments are received from customers in advance of services provided, the amounts are recorded as

Deferred Income and included as part of Creditors due within one year.

Profit is recognised on long-term contracts, if the final outcome can be assessed with reasonable certainty, by

including in the profit and loss account turnover and related costs as contract activity progresses. Turnover is

calculated by reference to the value of work performed to date as a proportion of the total contract value.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of ten 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.

Fixtures and fittings

-

10% on cost

Computer equipment

-

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.

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 2 .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 July 2016

and 30 June 2017

25,400

AMORTISATION

At 1 July 2016

7,620

Amortisation for year

2,540

At 30 June 2017

10,160

NET BOOK VALUE

At 30 June 2017

15,240

At 30 June 2016

17,780

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 July 2016

17,091

Additions

15,288

At 30 June 2017

32,379

DEPRECIATION

At 1 July 2016

2,279

Charge for year

3,901

At 30 June 2017

6,180

NET BOOK VALUE

At 30 June 2017

26,199

At 30 June 2016

14,812

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

2

Ordinary

£1

2

2

7.

RESERVES

Retained

earnings

£

At 1 July 2016

34,508

Profit for the year

127,692

Dividends

(48,000

)

At 30 June 2017

114,200

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included within creditors is £6,555 owed by the company to one of the directors (2016: £5,114).

Also included within creditors is £8,420 (2016: £16,137) owed to the other director of the company.

9.	RELATED PARTY DISCLOSURES

During the year dividends of £24,000 (2016: £23,000) were paid to each of the directors.

Included within creditors is £6,562 (2016: £16,309) due to SG Architects Ltd, a company controlled by Stephen

Govan.

10.	FIRST TIME ADOPTION OF FRS102

The company has transitioned to FRS 102 from former UK GAAP as at 1st June 2015. The policies applied

under the entities previous accounting framework are not materially different to FRS 102 and have not impacted

on the equity or profit and loss.