J McFadyen(Building Contractors) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC084200 (Scotland)

Financial Statements For The Year Ended 30 June 2018

for

J McFadyen

(Building Contractors) Limited

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

J McFadyen

Mrs H McFadyen

SECRETARY:

Mrs H McFadyen

REGISTERED OFFICE:

18 Crowhill Road

Bishopbriggs

Glasgow

G64 1QY

REGISTERED NUMBER:

SC084200 (Scotland)

ACCOUNTANTS:

Robb Ferguson

Chartered Accountants

Regent Court

70 West Regent Street

Glasgow

G2 2QZ

SOLICITORS:

Duffy Toshner

23 Main Street

Cambuslang

Glasgow

G72 7EX

FIXED ASSETS

Tangible assets

4

35,001

22,666

Investment property

5

208,785

-

243,786

22,666

CURRENT ASSETS

Debtors

255,797

340,190

Cash at bank and in hand

364,174

460,464

619,971

800,654

CREDITORS

Amounts falling due within one year

87,248

138,906

NET CURRENT ASSETS

532,723

661,748

TOTAL ASSETS LESS CURRENT LIABILITIES

776,509

684,414

PROVISIONS FOR LIABILITIES

5,792

3,469

NET ASSETS

770,717

680,945

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

770,617

680,845

SHAREHOLDERS' FUNDS

770,717

680,945

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 Statement of Comprehensive Income and an abridged Statement of Financial Position for the year ended 30 June 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 Comprehensive Income 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:

J McFadyen - Director

Mrs H McFadyen - Director

1.	STATUTORY INFORMATION

J McFadyen (Building Contractors) 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

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.

Improvements to property

-

15% on reducing balance

Fixed plant and equipment

-

33.33% on cost and 20% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Investment property

Investment property is included at fair value. Any aggregate surplus or deficit arising from changes in fair value

is recognised in profit or loss. Deferred taxation is provided on gains at the rate expected to apply when the

property is sold.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible

preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit

or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes

recognised in profit or loss.

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 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.

Current or deferred taxation assets and liabilities are not discounted.

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.

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.

Investments

Fixed asset investments are originally stated at cost. An annual review of market value takes place at each year

end the investments are still held and any increases or permanent diminutions in value adjusted for accordingly in

the accounts.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2017 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 July 2017

137,321

Additions

22,885

At 30 June 2018

160,206

DEPRECIATION

At 1 July 2017

114,655

Charge for year

10,550

At 30 June 2018

125,205

NET BOOK VALUE

At 30 June 2018

35,001

At 30 June 2017

22,666

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

208,785

At 30 June 2018

208,785

NET BOOK VALUE

At 30 June 2018

208,785

The directors have reviewed the carrying value of investment property at the Statement of Financial Position date

and consider cost to be a reasonable approximation of fair value at that date.

6.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2018

2017

£

£

Within one year

3,468

12,500

Between one and five years

3,468

-

6,936

12,500

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2018 and

30 June 2017:

2018

2017

£

£

Mrs H McFadyen

Balance outstanding at start of year

(61

)

(4,301

)

Amounts advanced

29,052

27,240

Amounts repaid

(29,000

)

(23,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(9

)

(61

)

J McFadyen

Balance outstanding at start of year

(61

)

(4,301

)

Amounts advanced

29,052

27,240

Amounts repaid

(29,000

)

(23,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(9

)

(61

)