Highland Antiques Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC353749 (Scotland)

Unaudited Financial Statements for the Year Ended 31 January 2018

for

Highland Antiques Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

M J Wilson

SECRETARY:

F Wilson

REGISTERED OFFICE:

R & A House

Woodburn Road

Blackburn

Aberdeenshire

AB21 0PS

REGISTERED NUMBER:

SC353749 (Scotland)

ACCOUNTANTS:

Carnegie Knox (Scotland) Limited

R & A House Woodburn Road

Blackburn

Aberdeen

Aberdeenshire

AB21 0PS

FIXED ASSETS

Tangible assets

4

466

1,441

CURRENT ASSETS

Stocks

204,186

190,816

Cash at bank

2,835

4,368

207,021

195,184

CREDITORS

Amounts falling due within one year

5

107,707

107,962

NET CURRENT ASSETS

99,314

87,222

TOTAL ASSETS LESS CURRENT LIABILITIES

99,780

88,663

CAPITAL AND RESERVES

Called up share capital

6

2

2

Retained earnings

7

99,778

88,661

SHAREHOLDERS' FUNDS

99,780

88,663

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 1 October 2018 and were signed by:

M J Wilson - Director

1.	STATUTORY INFORMATION

Highland Antiques Ltd 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.

Related party exemption

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.

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.

Equipment

-

25% on cost

Computer equipment

-

25% on cost and 25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Computer

Equipment

equipment

Totals

£

£

£

COST

At 1 February 2017

and 31 January 2018

4,130

3,835

7,965

DEPRECIATION

At 1 February 2017

3,217

3,307

6,524

Charge for year

747

228

975

At 31 January 2018

3,964

3,535

7,499

NET BOOK VALUE

At 31 January 2018

166

300

466

At 31 January 2017

913

528

1,441

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.18

31.1.17

£

£

Tax

3,011

1,089

VAT

1,995

2,668

Directors' current accounts

102,351

103,495

Accrued expenses

350

710

107,707

107,962

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.1.18

31.1.17

value:

£

£

2

Ordinary

£1.00

2

2

7.

RESERVES

Retained

earnings

£

At 1 February 2017

88,661

Profit for the year

11,117

At 31 January 2018

99,778

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the end of the year Mr M Wilson is due £102,351 from the company.

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr M Wilson by virtue of owning 100% of the issued share capital.