Innes Ross Limited - Accounts to registrar (filleted) - small 18.1

Innes Ross Limited - Accounts to registrar (filleted) - small 18.1

INNES ROSS LIMITED - Company Information

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REGISTERED NUMBER: SC293712 (Scotland)















Unaudited Financial Statements for the Year Ended 30th September 2017

for

Innes Ross Limited
Innes Ross Limited (Registered number: SC293712)






Contents of the Financial Statements
for the Year Ended 30th September 2017




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Report of the Accountants 7

Innes Ross Limited

Company Information
for the Year Ended 30th September 2017







DIRECTORS: Mr J Frankitti
Mrs C Frankitti





SECRETARY: None Appointed





REGISTERED OFFICE: Peppermill Cottage
Crosshill Farm
Tulliallan
Clackmannanshire
FK10 4BG





REGISTERED NUMBER: SC293712 (Scotland)





ACCOUNTANTS: Taylor McIntyre Limited
15 East Cromwell Street
Edinburgh
Midlothian
EH6 6HD
Page 1
Innes Ross Limited (Registered number: SC293712)

Balance Sheet
30th September 2017

30.9.17 30.9.16
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,875 5,679

CURRENT ASSETS
Debtors 5 26,242 5,970
Cash at bank 7,496 38,054
33,738 44,024
CREDITORS
Amounts falling due within one year 6 15,246 21,147
NET CURRENT ASSETS 18,492 22,877
TOTAL ASSETS LESS CURRENT
LIABILITIES
24,367
28,556

PROVISIONS FOR LIABILITIES 948 495
NET ASSETS 23,419 28,061

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 23,319 27,961
SHAREHOLDERS' FUNDS 23,419 28,061

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 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.

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 26th June 2018 and were signed on its behalf by:



Mrs C Frankitti - Director


The notes form part of these financial statements

Page 2
Innes Ross Limited (Registered number: SC293712)

Notes to the Financial Statements
for the Year Ended 30th September 2017

1. STATUTORY INFORMATION

Innes Ross 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,
value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance

Page 3 continued...
Innes Ross Limited (Registered number: SC293712)

Notes to the Financial Statements - continued
for the Year Ended 30th September 2017

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12
'Other Financial Instruments Issues' of FRS102 to all financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the
contractual provision of the instrument.

Financial assets and liabilities are offset with the net amounts presented in the financial statements when there is a
legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to
realise the asset and settle the liability simultaneously.

Basic Financial Assets
Basic financial assets, which include debtors and cash and bank balances are initially measured at transaction price
including transaction costs and are subsequently carried at amortised cost using the effective interest method
unless the arrangement constitutes a financing transaction where the transaction is measured at the present value
of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one
year are not amortised.

Classification of Financial Liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual
arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of
the company after deducting all of its liabilities.

Basic Financial Liabilities
Basic financial liabilities including creditors, bank loans, loans from fellow group companies and preference shares
that are classified as debt are initially recognised at a transaction price unless the arrangement constitutes a
financing transaction, where the debt instrument is measured at the present value of the future receipts discounted
at a market value of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of
business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or
less and are not amortised. If not, they are presented as non-current liabilities. Trade creditors are recognised
initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity Instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.
Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of
the company.

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.


Page 4 continued...
Innes Ross Limited (Registered number: SC293712)

Notes to the Financial Statements - continued
for the Year Ended 30th September 2017

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st October 2016 28,488
Additions 2,020
At 30th September 2017 30,508
DEPRECIATION
At 1st October 2016 22,809
Charge for year 1,824
At 30th September 2017 24,633
NET BOOK VALUE
At 30th September 2017 5,875
At 30th September 2016 5,679

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.17 30.9.16
£    £   
Trade debtors 23,817 3,545
Inter company account 2,425 2,425
26,242 5,970

Page 5 continued...
Innes Ross Limited (Registered number: SC293712)

Notes to the Financial Statements - continued
for the Year Ended 30th September 2017

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.17 30.9.16
£    £   
Tax 236 3,607
Social security and other taxes 462 238
VAT 4,935 5,373
Directors' loan accounts 7,260 10,628
Accrued expenses 2,353 1,301
15,246 21,147

7. FIRST YEAR ADOPTION

The transition from FRSSE 2015 to FRS 102(Section 1A) has not affected the company's financial position or its
performance.

Page 6
Innes Ross Limited

Report of the Accountants to the Directors of
Innes Ross Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual
unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file
a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the
Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 30th September 2017 set out on pages three to thirteen and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Taylor McIntyre Limited
15 East Cromwell Street
Edinburgh
Midlothian
EH6 6HD


26th June 2018

This page does not form part of the statutory financial statements

Page 7