Scott - Drummond Limited - Accounts to registrar (filleted) - small 17.3
Scott - Drummond Limited - Accounts to registrar (filleted) - small 17.3
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 30 September 2017 |
| for |
| Scott - Drummond Limited |
| Scott - Drummond Limited (Registered number: 01317360) |
| Contents of the Financial Statements |
| for the Year Ended 30 September 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Scott - Drummond Limited |
| Company Information |
| for the Year Ended 30 September 2017 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 24 Picton House |
| Hussar Court |
| Waterlooville |
| Hampshire |
| PO7 7SQ |
| Scott - Drummond Limited (Registered number: 01317360) |
| Balance Sheet |
| 30 September 2017 |
| 30.9.17 | 30.9.16 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Capital redemption reserve |
| 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. |
| Scott - Drummond Limited (Registered number: 01317360) |
| Balance Sheet - continued |
| 30 September 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: |
| Scott - Drummond Limited (Registered number: 01317360) |
| Notes to the Financial Statements |
| for the Year Ended 30 September 2017 |
| 1. | STATUTORY INFORMATION |
| Scott - Drummond Limited is a |
| 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 |
| Financial Reporting Standard 102 - Reduced Disclosure Exemptions |
| The company has taken advantage of the following disclosure exemptions in preparing these financial |
| statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of |
| Ireland": |
| - the requirements of Section 7 Statement of Cash Flows - Presentation of a Statement of Cash Flow and related |
| notes and disclosures; |
| - the requirements of Section 11 'Basic Financial Instruments' & Section 12 'Other Financial Instrument Issues' - |
| Carrying amounts, interest income/expense and net gains/losses for each category of financial instrument; basis |
| of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value |
| changes recognised in the profit or loss and in other comprehensive income. |
| - Section 33 'Related Party Disclosures' - Compensation for key management personnel. |
| First time adoption of FRS 102 |
| These financial statements are the first financial statements of Scott - Drummond Limited prepared in accordance |
| with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of |
| Ireland' (FRS 102). The financial statements of Scott - Drummond Limited for the year ended |
| 30 September 2016 were prepared in accordance with previous UK GAAP. |
| Some of the FRS 102 recognition, measurement, presentation and disclosure requirements and accounting policy |
| choices differ from previous UK GAAP. Consequently, the directors have amended certain accounting policies |
| to comply with FRS 102. The directors have also taken advantage of certain exemptions from the requirements |
| of FRS 102 permitted by FRS 102 Chapter 35 'Transition to this FRS'. |
| Comparative figures have been restated to reflect the adjustments made, except to the extent that the directors |
| have taken advantage of exemptions to retrospective application of FRS 102 permitted by FRS 102 Chapter 35 |
| 'Transition to this FRS'. Adjustments are recognised directly in equity within the cumulative profit and loss |
| account at the transition date. |
| Monetary amounts in these financial statements are rounded to the nearest whole £1, except where otherwise |
| indicated. |
| First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A |
| These financial statements for the year ended 30 September 2017 are the first that are prepared in accordance |
| with FRS 102 Section 1A. The previous financial statements were prepared in accordance with UK GAAP, the |
| date of transition to FRS 102 Section 1A is 1 October 2015. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
| value added tax and other sales taxes. |
| Scott - Drummond Limited (Registered number: 01317360) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 September 2017 |
| 2. | ACCOUNTING POLICIES - continued |
| Tangible fixed assets |
| Short leasehold | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Rental equipment | - |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| 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. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
| balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at |
| the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held |
| under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases |
| are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element |
| of the future payments is treated as a liability. |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
| lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
| scheme are charged to profit or loss in the period to which they relate. |
| Scott - Drummond Limited (Registered number: 01317360) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 September 2017 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Short | Plant and | and |
| leasehold | machinery | fittings |
| £ | £ | £ |
| COST |
| At 1 October 2016 |
| Additions |
| At 30 September 2017 |
| DEPRECIATION |
| At 1 October 2016 |
| Charge for year |
| Eliminated on disposal |
| At 30 September 2017 |
| NET BOOK VALUE |
| At 30 September 2017 |
| At 30 September 2016 |
| Motor | Rental |
| vehicles | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 October 2016 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 30 September 2017 |
| DEPRECIATION |
| At 1 October 2016 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 30 September 2017 |
| NET BOOK VALUE |
| At 30 September 2017 |
| At 30 September 2016 |
| Scott - Drummond Limited (Registered number: 01317360) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 September 2017 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Plant and | Motor |
| machinery | vehicles | Totals |
| £ | £ | £ |
| COST |
| At 1 October 2016 |
| Transfer to ownership | (14,495 | ) | (17,890 | ) | (32,385 | ) |
| At 30 September 2017 |
| DEPRECIATION |
| At 1 October 2016 |
| Charge for year |
| Transfer to ownership | (14,253 | ) | (9,382 | ) | (23,635 | ) |
| At 30 September 2017 |
| NET BOOK VALUE |
| At 30 September 2017 |
| At 30 September 2016 |
| 5. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1 October 2016 |
| and 30 September 2017 |
| NET BOOK VALUE |
| At 30 September 2017 |
| At 30 September 2016 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.9.17 | 30.9.16 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| Scott - Drummond Limited (Registered number: 01317360) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 September 2017 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.9.17 | 30.9.16 |
| £ | £ |
| Hire purchase contracts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 30.9.17 | 30.9.16 |
| £ | £ |
| Hire purchase contracts |
| 9. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling party is Mr S King by virtue of his majority shareholding. |