Cullross (DH) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC519346 (Scotland)

Unaudited Financial Statements for the Year Ended 28 February 2018

for

Cullross (DH) Limited

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

R Fletcher

REGISTERED OFFICE:

21 Young Street

Edinburgh

EH2 4HU

REGISTERED NUMBER:

SC519346 (Scotland)

ACCOUNTANTS:

AR Accountancy

Chartered Accountants

3 Holmwood Park

Crossford

Lanarkshire

ML8 5SZ

CURRENT ASSETS

Stocks

774,379

590,105

Debtors

471,652

417,435

Cash at bank

12,179

137,600

1,258,210

1,145,140

CREDITORS

Amounts falling due within one year

1,294,181

1,112,411

NET CURRENT (LIABILITIES)/ASSETS

(35,971

)

32,729

TOTAL ASSETS LESS CURRENT LIABILITIES

(35,971

)

32,729

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(36,071

)

32,629

SHAREHOLDERS' FUNDS

(35,971

)

32,729

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 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.

All the members have consented to the preparation of an abridged Statement of Income and Retained Earnings and an abridged Statement of Financial Position 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 30 November 2018 and were signed by:

R Fletcher - Director

1.	STATUTORY INFORMATION

Cullross (DH) 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.

Going Concern

The financial statements have been prepared on a going concern basis which assumes that the company will

continue to meet its obligations as they fall due for at least 12 months from the date of approval of the financial

statements.

The company's financial statements do not reflect adjustments to the carrying values and classification of

assets and liabilities that might be necessary should the company be unable to continue as a going concern.

Such adjustments may be material.

The director considers that it is appropriate to prepare the financial statements on a going concern basis.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A

These financial statements for the year ended 28 February 2018 are the first that are prepared in accordance

with FRS 102 Section 1A. The previous financial statements were prepared in accordance with UK GAAP, the

date of transition to FRS 102 Section 1A is 3 November 2015.

Significant judgements and estimates

Significant judgements and estimates are made in the calculations required to determine the costs to complete

long term construction projects. The percentage completion, and hence the gross profit to release to the

income statement, are dependent on those estimates. In the opinion of the director, after due consideration,

the estimates made at the balance sheet date are considered reasonable, however, any significant over or

under estimate could materially alter the value of gross profit released.

Turnover

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

rebates, value added tax and other sales taxes.

Contract turnover includes the value of work completed during the financial year, after reference to the total

sales value and stage completion of the project and including the settlement of claims arising from previous

years.

Stocks

Stocks and work in progress (except long term contracts) are valued at the lower of cost and net realisable

value, after making due allowance for obsolete and slow moving items.

Long term contract balances are valued at costs incurred on specific contracts, net of amounts transferred to

cost of sales in respect of work recorded as turnover, less foreseeable losses and payments on account. If the

ultimate profitability of a contract can be assessed with reasonable certainty, after having made prudent

allowance for future risks and uncertainties, then profit is recognised in proportion to the contract work

completed. Immediate provision is made for all foreseeable losses.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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.	RELATED PARTY DISCLOSURES

4.	ULTIMATE CONTROLLING PARTY

The controlling party is Cullross Holdings Limited.

The ultimate controlling party is R Fletcher.

The company was under the joint control of Mr R Fletcher and Mr S Garry until 24 July 2017, when Cullross

Holdings Limited acquired 100% of the share capital of the company. Mr R Fletcher holds 100% of the share

capital in Cullross Holdings Limited.