Steven R Paterson Ltd,Ltd - AccountsLtd - Accounts

STEVEN R PATERSON LIMITED - Company Information

2016-10-01 SC198453 2017-09-30 SC198453 2016-10-01 2017-09-30 SC198453 2016-09-30 SC198453 2015-10-01 2016-09-30 SC198453 uk-core:WithinOneYear 2016-09-30 SC198453 uk-core:WithinOneYear 2017-09-30 SC198453 uk-core:AfterOneYear 2016-09-30 SC198453 uk-core:AfterOneYear 2017-09-30 SC198453 uk-core:ShareCapital 2017-09-30 SC198453 uk-core:ShareCapital 2016-09-30 SC198453 uk-core:RetainedEarningsAccumulatedLosses 2017-09-30 SC198453 uk-core:RetainedEarningsAccumulatedLosses 2016-09-30 SC198453 uk-bus:Director1 2016-10-01 2017-09-30 SC198453 uk-core:NetGoodwill 2016-10-01 2017-09-30 SC198453 uk-core:Land 2016-10-01 2017-09-30 SC198453 uk-core:PlantMachinery 2016-10-01 2017-09-30 SC198453 uk-core:CommercialMotorVehicles 2016-10-01 2017-09-30 SC198453 uk-core:Goodwill 2016-09-30 SC198453 uk-core:Goodwill 2017-09-30 SC198453 uk-core:Goodwill 2016-10-01 2017-09-30 SC198453 uk-core:CommercialMotorVehicles 2016-09-30 SC198453 uk-core:PlantMachinery 2016-09-30 SC198453 uk-core:Land 2016-09-30 SC198453 uk-core:Land 2017-09-30 SC198453 uk-core:PlantMachinery 2017-09-30 SC198453 uk-core:CommercialMotorVehicles 2017-09-30 SC198453 uk-core:CostValuation 2016-09-30 SC198453 uk-core:CostValuation uk-core:Non-currentFinancialInstruments 2016-09-30 SC198453 uk-core:CostValuation uk-core:Non-currentFinancialInstruments 2017-09-30 SC198453 uk-core:CostValuation 2017-09-30 SC198453 uk-core:ImpairmentLossProvisionsForImpairmentInvestments uk-core:Non-currentFinancialInstruments 2017-09-30 SC198453 uk-core:ImpairmentLossProvisionsForImpairmentInvestments 2017-09-30 SC198453 uk-core:ProvisionsForImpairmentInvestments uk-core:Non-currentFinancialInstruments 2017-09-30 SC198453 uk-core:ProvisionsForImpairmentInvestments 2017-09-30 SC198453 uk-core:Non-currentFinancialInstruments 2017-09-30 SC198453 uk-core:Non-currentFinancialInstruments 2016-09-30 SC198453 uk-core:WithinOneYear uk-core:Secured 2017-09-30 SC198453 uk-core:WithinOneYear uk-core:Secured 2016-09-30 SC198453 uk-core:AfterOneYear 2016-10-01 2017-09-30 iso4217:GBP SC198453 uk-bus:AuditExemptWithAccountantsReport 2016-10-01 2017-09-30 SC198453 uk-bus:FRS102 2016-10-01 2017-09-30 SC198453 uk-bus:FullAccounts 2016-10-01 2017-09-30 SC198453 uk-bus:PrivateLimitedCompanyLtd 2016-10-01 2017-09-30

Steven R Paterson Ltd

Registered Number:SC198453

For the year ended 30 September 2017

Scotland

Unaudited Financial Statements

For the year ended 30 September 2017

Steven R Paterson Ltd

Contents Page

Statement of Financial Position

2 to 6

Notes to the Financial Statements

As at 30 September 2017

Steven R Paterson Ltd

Statement of Financial Position

Registered Number :

SC198453

2016

2017

Notes

Fixed assets

Intangible assets

4,697

5,469

Property, plant and equipment

501,730

453,025

Financial assets

322

506,502

458,816

Current assets

Inventories

637,894

745,439

Trade and other receivables

496,702

519,249

102,736

Cash and cash equivalents

1,264,688

1,237,332

Trade and other payables: amounts falling due within one

year

(350,368)

(481,762)

886,964

782,926

Net current assets

Total assets less current liabilities

1,289,428

1,345,780

Trade and other payables: amounts falling due after more

than one year

(297,693)

(269,879)

(21,179)

(24,803)

Provisions for liabilities

998,370

Net assets

1,023,284

Capital and reserves

Called up share capital

175,000

Retained earnings

823,370

848,284

998,370

1,023,284

Shareholders' funds

For the year ended 30 September 2017 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.

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

The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section

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.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

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.

1 of 6

For the year ended 30 September 2017

Steven R Paterson Ltd

Statement of Financial Position Continued

Mr Steven R Paterson Director

These financial statements were approved and authorised for issue by the Board on 14 March 2018 and were signed by:

The notes form part of these financial statements

2 of 6

For the year ended 30 September 2017

Steven R Paterson Ltd

Notes to the Financial Statements

Statutory Information

Steven R Paterson Ltd is a private limited company, limited by shares, domiciled in Scotland, registration number

SC198453.

Registered address:

10 Crowness Road

Hatston Industrial Estate

Kirkwall

Orkney

KW15 1RG

The presentation currency is £ sterling.

1. Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A 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 costs convention as

modified by the revaluation of certain assets.

Revenue recognition

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of 20 years.

Property, plant and equipment

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Land and buildings

2% Straight line

Plant and machinery

25% Reducing balance

Motor vehicles

Inventories

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Hire purchase and leasing commitments

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

Pension costs and other post-retirement benefits

The company participates in the Plumbers Pensions Scheme - a multi-employer defined benefit plan, for some of its employees. The director is unable to confirm the company''s share of the underlying assets and liabilities of this plan and therefore the plan is accounted for as a defined contribution scheme. This plan is closed to future employees. The company made employer contributions of £28,515 in the year. All other qualifying employees are being offered the money purchase scheme operated under the autoenrolment regulations. The company contributes the minimum statutory level of 1% of qualifying earnings.

3 of 6

For the year ended 30 September 2017

Steven R Paterson Ltd

Notes to the Financial Statements Continued

2. Intangible fixed assets

Goodwill

Cost or valuation

At 01 October 2016

36,480

At 30 September 2017

36,480

Amortisation

At 01 October 2016

31,011

772

Charge for year

At 30 September 2017

31,783

Net book value

At 30 September 2017

4,697

At 30 September 2016

5,469

3. Property, plant and equipment

Total

Motor vehicles

Plant and

machinery

Land and

buildings

Cost or

valuation

At 01 October 2016

932,843

273,324

253,591

405,928

122,626

5,755

9,370

107,501

Additions

(3,822)

Disposals

(3,822)

At 30 September 2017

513,429

262,961

275,257

1,051,647

Provision for depreciation and impairment

At 01 October 2016

479,818

151,799

129,441

198,578

Charge for year

73,538

31,712

17,475

24,351

(3,439)

On disposal

At 30 September 2017

549,917

180,072

146,916

222,929

At 30 September 2017

Net book value

290,500

116,045

95,185

501,730

At 30 September 2016

207,350

124,150

121,525

453,025

4 of 6

For the year ended 30 September 2017

Steven R Paterson Ltd

Notes to the Financial Statements Continued

4. Investments held as fixed assets

Other investments

Total

At 01 October 2016

322

Cost

At 30 September 2017

322

Provision for amortisation and impairment

Provided during

the year

247

At 30 September 2017

247

At 30 September 2017

Net book value

At 01 October 2016

322

5. Inventories

2016

2017

Stocks

745,439

637,894

6. Trade and other receivables

2016

2017

Trade debtors

503,327

470,433

Other debtors

15,922

26,269

496,702

519,249

5 of 6

For the year ended 30 September 2017

Steven R Paterson Ltd

Notes to the Financial Statements Continued

7. Trade and other payables: amounts falling due within one year

2016

2017

Bank loans and overdraft (secured)

158,425

22,000

Trade creditors

125,714

126,074

Taxation and social security

86,912

105,673

Other creditors

110,711

96,621

481,762

350,368

8. Trade and other payables: amounts falling due after more than one year

2016

2017

Bank loans and overdraft (secured)

57,771

86,306

Other creditors

212,108

211,387

269,879

297,693

Other creditors relates to a loan from an associated undertaking. The loan is to be repaid as and when funds become available.

6 of 6