Hunter Building Services Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: SC041219 (Scotland)

Audited Financial Statements

for the Year Ended 31 October 2017

for

Hunter Building Services Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

D J Hunter

Mrs J Hunter

SECRETARY:

Mrs J Hunter

REGISTERED OFFICE:

19 Admiral Street

Glasgow

G41 1HP

REGISTERED NUMBER:

SC041219 (Scotland)

AUDITORS:

Gillespie & Anderson

Statutory Auditors

Chartered Accountants

147 Bath Street

Glasgow

G2 4SN

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

84,654

88,423

Investments

6

877,968

756,469

Investment property

7

212,974

-

1,175,596

844,892

CURRENT ASSETS

Debtors

8

766,297

947,099

Cash at bank

1,072,771

1,249,462

1,839,068

2,196,561

CREDITORS

Amounts falling due within one year

9

16,036

50,248

NET CURRENT ASSETS

1,823,032

2,146,313

TOTAL ASSETS LESS CURRENT LIABILITIES

2,998,628

2,991,205

PROVISIONS FOR LIABILITIES

47,896

32,824

NET ASSETS

2,950,732

2,958,381

CAPITAL AND RESERVES

Called up share capital

28,000

28,000

Revaluation reserve

7,051

7,051

Retained earnings

2,915,681

2,923,330

SHAREHOLDERS' FUNDS

2,950,732

2,958,381

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 Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 18 May 2018 and were signed on its behalf by:

D J Hunter - Director

1.	STATUTORY INFORMATION

Hunter Building Services 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 as modified by the revaluation of certain assets.

Turnover

Turnover represents net sales of goods and services, excluding value added tax, and recognised when the

company becomes entitled to the income.

Intangible assets

Goodwill, being the amount paid in connection with the acquisition of a business, has been fully amortised in

previous years.

Tangible fixed assets

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

Land and buildings

-

2% on cost

Plant and machinery etc

-

10% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

fair value is recognised in profit or loss.

Financial instruments

The company has no complex financial instruments but does hold basic financial instruments of; cash at bank,

debtors, creditors and non-puttable ordinary shares.

Cash and cash equivalents comprise cash at bank and on hand, foreign currency on hand, demand deposits with

banks and other short-term highly liquid investments with original maturities of three months or less and bank

overdrafts. A bank overdraft would be shown within current liabilities.

Trade and other debtors are initially recognised at fair value and subsequently measured at amortised cost using

the effective interest method, less losses for bad debts except where the effect of discounting would be

immaterial. In such cases, trade and other debtors are stated at cost less losses for bad debts.

Trade and other creditors are initially recognised at fair value and subsequently measured at amortised cost using

the effective interest rate unless the effect of discounting would be immaterial. In such cases, trade and other

creditors are stated at cost.

Ordinary shares are initially recognised at transaction value and subsequently valued at fair value with any

changes in fair value being recognised in the profit and loss account.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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.

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.

Employee benefits

The total cost of employee benefits to which employees have become entitled as a result of service rendered to

the entity during the reporting period are recognised and charged to the profit and loss account in the period to

which they relate.

Provision for liabilities

A provision is initially recognised when there is an obligation at the balance sheet date as the result of a past

event, it is probable that there will be the transfer of funds in settlement and the amount of the obligation can be

estimated reliably. The provision is subsequently measured by placing a charge against the provision only for

expenditure for which the provision was originally recognised.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 November 2016

and 31 October 2017

5,000

AMORTISATION

At 1 November 2016

and 31 October 2017

5,000

NET BOOK VALUE

At 31 October 2017

-

At 31 October 2016

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST OR VALUATION

At 1 November 2016

and 31 October 2017

188,423

21,213

209,636

DEPRECIATION

At 1 November 2016

100,001

21,212

121,213

Charge for year

3,769

-

3,769

At 31 October 2017

103,770

21,212

124,982

NET BOOK VALUE

At 31 October 2017

84,653

1

84,654

At 31 October 2016

88,422

1

88,423

In the opinion of the directors, the amount at which the assets are stated does not exceed their open market value.

Cost or valuation at 31 October 2017 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Valuation in 1988

7,051

-

7,051

Cost

181,372

21,213

202,585

188,423

21,213

209,636

If freehold property had not been revalued it would have been included at the following historical cost:

2017

2016

£

£

Cost

181,372

181,372

Aggregate depreciation

99,680

96,052

6.	FIXED ASSET INVESTMENTS

Shares in

group

Other

undertakings

investments

Totals

£

£

£

COST OR VALUATION

At 1 November 2016

37,884

718,585

756,469

Additions

100

35,669

35,769

Disposals

-

(19,284

)

(19,284

)

Revaluations

-

105,014

105,014

At 31 October 2017

37,984

839,984

877,968

NET BOOK VALUE

At 31 October 2017

37,984

839,984

877,968

At 31 October 2016

37,884

718,585

756,469

Cost or valuation at 31 October 2017 is represented by:

Shares in

group

Other

undertakings

investments

Totals

£

£

£

Valuation in 2017

37,984

839,984

877,968

7.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

212,974

At 31 October 2017

212,974

NET BOOK VALUE

At 31 October 2017

212,974

The Directors are in agreement that the valuation of the investment property shown in the financial statements is

reflective of the current fair value.

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Amounts owed by group undertakings

565,919

656,494

Other debtors

200,378

290,605

766,297

947,099

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Taxation and social security

464

40,201

Other creditors

15,572

10,047

16,036

50,248

10.	SECURED DEBTS

An unlimited guarantee is in place by Hunter Building Services Limited in favour of Lombard North Central Plc.

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Alastair Stewart BA(Hons) CA (Senior Statutory Auditor)

for and on behalf of Gillespie & Anderson

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2017 and

31 October 2016:

2017

2016

£

£

D J Hunter

Balance outstanding at start of year

231,655

193,765

Amounts advanced

141,815

319,983

Amounts repaid

(214,001

)

(282,093

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

159,469

231,655

The above loans are interest free with no conditions attached.

13.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.

During the year, total dividends of £214,001 (2016 - £265,690) were paid to the directors .

14.	GROUP ACCOUNTS

No group accounts have been prepared as the directors consider the company to be part of a small sized group.

15.	FIRST YEAR ADOPTION

The company has adopted FRS 102 for the year ended 31 October 2017 and has restated the comparative

amounts. The transition to the new standard has resulted in fixed asset investments being restated from cost to

fair value with the gain on revaluation being taken to the profit and loss account. All other amounts stated under

FRS 102 for both profit and loss for the year ended 31 October 2016 and the balance sheet as at 31 October

2016 remain unchanged from those stated under the former UK GAAP. The transition date was 1 November

2015.