Louis Grace (Electrical) Limited - Accounts to registrar (filleted) - small 18.2
Louis Grace (Electrical) Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2018 |
| FOR |
| LOUIS GRACE (ELECTRICAL) LIMITED |
| LOUIS GRACE (ELECTRICAL) LIMITED (REGISTERED NUMBER: SC032153) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2018 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| LOUIS GRACE (ELECTRICAL) LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MARCH 2018 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 169 West George Street |
| Glasgow |
| G2 2LB |
| BANKERS: |
| 21 Kilmarnock Road |
| Pollokshaws |
| Glasgow |
| G41 3YW |
| LOUIS GRACE (ELECTRICAL) LIMITED (REGISTERED NUMBER: SC032153) |
| BALANCE SHEET |
| 31 MARCH 2018 |
| 2018 | 2017 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Capital redemption reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| 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 |
| LOUIS GRACE (ELECTRICAL) LIMITED (REGISTERED NUMBER: SC032153) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2018 |
| 1. | STATUTORY INFORMATION |
| Louis Grace (Electrical) Limited is a |
| 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 |
| Turnover |
| The turnover shown in the Income Statement represents the value of all goods sold during the year, less returns received |
| and services delivered at a selling price exclusive of Value Added Tax. Sales are recognised at the point at which the |
| Company has fulfilled its contractual obligations and the risks and rewards attaching to the product, such as obsolescence, |
| have been transferred to the customer. |
| Tangible fixed assets |
| Freehold property | - |
| Equipment and fittings | - |
| Tangible fixed assets are stated at cost less depreciation. Cost represents purchase price together with any incidental costs |
| of acquisition. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving |
| items. |
| Cost is calculated using the weighted average method and includes the normal cost of transporting stock to its present |
| location and condition. |
| Financial instruments |
| The Company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments. |
| Financial instruments are classified and accounted for as financial assets, financial liabilities or equity instruments, |
| according to the substance of the contractual arrangement. |
| Financial instruments which are assets are stated at cost less any provision for impairment. Financial liabilities are stated at |
| principal capital amounts outstanding at the period end. Issue costs relating to financial liabilities are deducted from the |
| outstanding balance and are amortised over the period to the due date for repayment of the financial liability. |
| An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of |
| its liabilities. A financial liability is any contractual arrangement for an entity to deliver cash to the holder of the associated |
| financial instrument. |
| LOUIS GRACE (ELECTRICAL) LIMITED (REGISTERED NUMBER: SC032153) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2018 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that 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 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. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Equipment |
| Freehold | and |
| property | fittings | Totals |
| £ | £ | £ |
| COST |
| At 1 April 2017 |
| and 31 March 2018 |
| DEPRECIATION |
| At 1 April 2017 |
| Charge for year |
| At 31 March 2018 |
| NET BOOK VALUE |
| At 31 March 2018 |
| At 31 March 2017 |
| 5. | DEBTORS |
| 2018 | 2017 |
| £ | £ |
| Amounts falling due within one year: |
| Trade debtors |
| Prepayments and accrued income |
| LOUIS GRACE (ELECTRICAL) LIMITED (REGISTERED NUMBER: SC032153) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2018 |
| 5. | DEBTORS - continued |
| 2018 | 2017 |
| £ | £ |
| Amounts falling due after more than one year: |
| ACT recoverable against future |
| taxation |
| Aggregate amounts |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Trade creditors |
| Social security and other taxes |
| Other creditors |
| 7. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2018 | 2017 |
| £ | £ |
| Within one year |
| Between one and five years |
| 8. | PROVISIONS FOR LIABILITIES |
| Deferred |
| tax |
| £ |
| Excess taxation allowances |
| Advance corporation tax | (1,497 | ) |
| Balance at 31 March 2018 |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2018 | 2017 |
| value: | £ | £ |
| Ordinary | £1 | 700 | 700 |
| 10. | RELATED PARTY DISCLOSURES |
| No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting |
| Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. |
| 11. | ULTIMATE CONTROLLING PARTY |
| The Company is controlled by M S Grace and Mrs S F Morris, by virtue of their shareholding. No individual shareholder has |
| overall control. |