1178 Edin Ltd. - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC263469 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2018

FOR

1178 EDIN LTD.

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr D S Gray

Mrs C Gray

REGISTERED OFFICE:

3 Coates Place

Edinburgh

EH3 7AA

REGISTERED NUMBER:

SC263469 (Scotland)

ACCOUNTANTS:

James Fraser & Co.

Chartered Accountants

3 Coates Place

Edinburgh

EH3 7AA

FIXED ASSETS

Intangible assets

4

16,000

18,000

Tangible assets

5

34,436

538

Investments

6

4,226

4,226

54,662

22,764

CURRENT ASSETS

Cash at bank

23,074

3,881

CREDITORS

Amounts falling due within one year

69,057

12,629

NET CURRENT LIABILITIES

(45,983

)

(8,748

)

TOTAL ASSETS LESS CURRENT LIABILITIES

8,679

14,016

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

8,579

13,916

SHAREHOLDERS' FUNDS

8,679

14,016

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

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 28 February 2018 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 23 November 2018 and were signed on its behalf by:

Mr D S Gray - Director

1.	STATUTORY INFORMATION

1178 Edin 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.

The directors confirm that it is appropriate for the financial statements to have been drawn up on the going

concern basis. In reaching this conclusion the directors have taken into account all relevant matters of which they

are aware and have considered a future period of at least twelve months from the date on which the financial

statements were approved.

Should the company be unable to continue trading, adjustments would have to be made to reduce the value of the

assets to their recoverable amount to reclassify fixed assets as current assets and to provide for any liabilities

which may arise.

Turnover

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

value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

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% straight line

Computer equipment

-

25% straight line

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 March 2017

and 28 February 2018

20,000

AMORTISATION

At 1 March 2017

2,000

Amortisation for year

2,000

At 28 February 2018

4,000

NET BOOK VALUE

At 28 February 2018

16,000

At 28 February 2017

18,000

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 March 2017

32,075

Additions

42,704

Disposals

(30,464

)

At 28 February 2018

44,315

DEPRECIATION

At 1 March 2017

31,537

Charge for year

8,806

Eliminated on disposal

(30,464

)

At 28 February 2018

9,879

NET BOOK VALUE

At 28 February 2018

34,436

At 28 February 2017

538

6.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1 March 2017

and 28 February 2018

4,226

NET BOOK VALUE

At 28 February 2018

4,226

At 28 February 2017

4,226

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28 February 2018 and

28 February 2017:

2018

2017

£

£

Mr D S Gray

Balance outstanding at start of year

(11,558

)

(2,690

)

Amounts repaid

(50,104

)

(8,868

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(61,662

)

(11,558

)