NEScotland Fire Risk Assessors Ltd - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: SC558831 (Scotland)

Unaudited Financial Statements

for the Period 27 February 2017 to 28 February 2018

for

NEScotland Fire Risk Assessors Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

7

DIRECTORS:

Mr G A Gray

Mrs K Gray

REGISTERED OFFICE:

Offices 1 & 8, Unit 1A

Inverurie Business Hub, Burghmuir Circle

Blackhall Industrial Estate

Inverurie

Aberdeenshire

AB51 4FS

REGISTERED NUMBER:

SC558831 (Scotland)

ACCOUNTANTS:

Keltic Accounting Limited

Offices 1 & 8, Unit 1A

Inverurie Business Hub, Burghmuir Circle

Blackhall Industrial Estate

Inverurie

Aberdeenshire

AB51 4FS

FIXED ASSETS

Tangible assets

5

8,479

CURRENT ASSETS

Debtors

6

2,936

Cash at bank

3,983

6,919

CREDITORS

Amounts falling due within one year

7

13,387

NET CURRENT LIABILITIES

(6,468

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,011

PROVISIONS FOR LIABILITIES

1,611

NET ASSETS

400

CAPITAL AND RESERVES

Called up share capital

8

100

Retained earnings

300

SHAREHOLDERS' FUNDS

400

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 28 February 2018.

The members have not required the company to obtain an audit of its financial statements for the period ended 28 February 2018 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 17 November 2018 and were signed on its behalf by:

Mr G A Gray - Director

1.	STATUTORY INFORMATION

NEScotland Fire Risk Assessors 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard

applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as

applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of

FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary

amounts in these financial statements are rounded to the nearest £.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales tax.

Turnover from the sale of good is recognised when the goods are physically delivered to the customer.

Turnover from the supply of services represents the value of services provided under contracts to the extent that

there is a right to consideration and is recorded at the value of the consideration due. Where the contract has

only been partially completed at the balance sheet date turnover represents the value of the services provided to

date based on a proportion of the total contract value. Where payments are received in advance of services being

provided, the amounts are recorded as Deferred Income and included as part of Creditors due within one year.

Tangible fixed assets

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

Motor vehicles

-

25% on cost

Computer equipment

-

33% on cost

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and

any impairment losses.

The gain or loss arising on the disposal of an asset is determined as the difference between the proceeds and the

carrying value of the asset and is included in the profit and loss account.

Taxation

Taxation for the period 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 period 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.

Financial instruments

Financial instruments are recognised when the company becomes party to the contractual provisions of the

instrument.

Basic financial assets

Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured

at transaction price including transaction costs and are subsequently carried at amortised cost.

Financial assets are derecognised when the contractual rights to cash flows from the asset expire or are settled or

when the company transfers the risks and rewards of ownership to another entity.

Basic financial liabilities

Basic financial liabilities, which include trade and other creditors and bank loans, are initially recognised at

transaction price and are subsequently carried at amortised cost.

Financial liabilities are derecognised when the company's contractual obligations are discharged.

Provisions

Provisions are recognised when the Company has an obligation at the reporting date as a result of a past event

which it is probable will result in the transfer of economic benefits and that obligation can be estimated reliably.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of

the time value of money is material, the provision is based on the present value of those amounts, discounted at

the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is

recognised within interest payable and similar charges.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 .

5.	TANGIBLE FIXED ASSETS

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

Additions

10,195

909

11,104

Disposals

-

(190

)

(190

)

At 28 February 2018

10,195

719

10,914

DEPRECIATION

Charge for period

2,336

99

2,435

At 28 February 2018

2,336

99

2,435

NET BOOK VALUE

At 28 February 2018

7,859

620

8,479

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

2,394

Other debtors

542

2,936

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Taxation and social security

1,863

Other creditors

11,524

13,387

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

100

Ordinary

1

100

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the period ended 28 February 2018:

£

Mr G A Gray

Balance outstanding at start of period

-

Amounts advanced

10,153

Amounts repaid

(18,487

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of period

(8,334

)

Mrs K Gray

Balance outstanding at start of period

-

Amounts advanced

194

Amounts repaid

(2,604

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of period

(2,410

)

10.	ULTIMATE CONTROLLING PARTY

The directors ultimately control the company by virtue of the fact that they own 100% of the issued share capital.

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.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of NEScotland Fire Risk Assessors Ltd for the period ended 28 February 2018 which comprise the

Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting

records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of NEScotland Fire Risk Assessors Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of NEScotland Fire Risk Assessors Ltd and state those matters that we have agreed to state to the Board of Directors of NEScotland Fire Risk Assessors Ltd, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that NEScotland Fire Risk Assessors Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of NEScotland Fire Risk Assessors Ltd. You consider that NEScotland Fire Risk Assessors Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of NEScotland Fire Risk Assessors Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Keltic Accounting Limited

Offices 1 & 8, Unit 1A

Inverurie Business Hub, Burghmuir Circle

Blackhall Industrial Estate

Inverurie

Aberdeenshire

AB51 4FS

Date: .............................................