Scotkart Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: SC355282 (Scotland)

Unaudited Financial Statements

for the Year Ended 30 September 2017

for

SCOTKART LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S G Matthews

D N Matthews

SECRETARY:

S G Matthews

REGISTERED OFFICE:

86 Westburn Road

Cambuslang

Glasgow

G72 7UD

REGISTERED NUMBER:

SC355282 (Scotland)

ACCOUNTANTS:

SD Business Management

Suite 411 Baltic Chambers

50 Wellington Street

Glasgow

Strathclyde

G2 6HJ

FIXED ASSETS

Tangible assets

4

108,015

140,142

CURRENT ASSETS

Stocks

17,269

20,682

Debtors

172,146

80,050

Cash at bank and in hand

129,305

190,651

318,720

291,383

CREDITORS

Amounts falling due within one year

253,388

348,498

NET CURRENT ASSETS/(LIABILITIES)

65,332

(57,115

)

TOTAL ASSETS LESS CURRENT LIABILITIES

173,347

83,027

CREDITORS

Amounts falling due after more than one year

(6,470

)

-

PROVISIONS FOR LIABILITIES

(19,192

)

(26,320

)

NET ASSETS

147,685

56,707

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

147,684

56,706

SHAREHOLDERS' FUNDS

147,685

56,707

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

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 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 September 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 21 May 2018 and were signed on its behalf by:

D N Matthews - Director

S G Matthews - Director

1.	STATUTORY INFORMATION

Scotkart 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.

In accordance with their responsibilities as directors, the directors have considered the appropriateness

of the going concern basis for the preparation of the financial statements.

Turnover

Turnover is recognised at the value of the consideration received or receivable for the sales of goods and

services in the ordinary nature of the business. Turnover is shown net of value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

33% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

25% on reducing balance

All fixed assets are initially recorded 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.

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 the profit and loss account over the relevant

period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 61 .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 October 2016

391,976

Additions

12,125

At 30 September 2017

404,101

DEPRECIATION

At 1 October 2016

251,834

Charge for year

44,252

At 30 September 2017

296,086

NET BOOK VALUE

At 30 September 2017

108,015

At 30 September 2016

140,142

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

At 1 October 2016

92,718

Additions

57,510

At 30 September 2017

150,228

DEPRECIATION

At 1 October 2016

82,806

Charge for year

22,372

At 30 September 2017

105,178

NET BOOK VALUE

At 30 September 2017

45,050

At 30 September 2016

9,912

5.	RELATED PARTY DISCLOSURES

6.	ULTIMATE CONTROLLING PARTY