Mann Judd Gordon Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC336688 (Scotland)

MANN JUDD GORDON LTD

Financial Statements for the Year Ended 31 March 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R Cunningham

J E Moffat

A Cumming

REGISTERED OFFICE:

26 Lewis Street

Stornoway

Isle of Lewis

HS1 2JF

REGISTERED NUMBER:

SC336688 (Scotland)

ACCOUNTANTS:

Mann Judd Gordon Ltd

Chartered Accountants

26 Lewis Street

Stornoway

Isle of Lewis

HS1 2JF

FIXED ASSETS

Intangible assets

5

220,000

240,000

Tangible assets

6

1,589

1

221,589

240,001

CURRENT ASSETS

Debtors

7

410,598

305,779

Cash at bank and in hand

180,609

230,825

591,207

536,604

CREDITORS

Amounts falling due within one year

8

205,446

177,027

NET CURRENT ASSETS

385,761

359,577

TOTAL ASSETS LESS CURRENT LIABILITIES

607,350

599,578

CREDITORS

Amounts falling due after more than one year

9

186,192

220,420

NET ASSETS

421,158

379,158

CAPITAL AND RESERVES

Called up share capital

90

90

Retained earnings

421,068

379,068

SHAREHOLDERS' FUNDS

421,158

379,158

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 21 December 2018 and were signed on its behalf by:

R Cunningham - Director

J E Moffat - Director

A Cumming - Director

1.	STATUTORY INFORMATION

Mann Judd Gordon 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.

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

The accounts are rounded to the nearest £1.

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

The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

Significant judgements and estimates are exercised when accounting for Intangible Fixed Assets and Tangible

Fixed Assets in determining the useful economic life of the assets held. This affects the depreciation charge

recorded in the financial statements.

Turnover

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

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of twenty years.

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.

Tangible fixed assets

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

Fixtures and fittings

-

25% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account,

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 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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2017 - 15 ) .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2017

and 31 March 2018

400,000

AMORTISATION

At 1 April 2017

160,000

Charge for year

20,000

At 31 March 2018

180,000

NET BOOK VALUE

At 31 March 2018

220,000

At 31 March 2017

240,000

6.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 April 2017

12,501

Additions

2,006

At 31 March 2018

14,507

DEPRECIATION

At 1 April 2017

12,500

Charge for year

418

At 31 March 2018

12,918

NET BOOK VALUE

At 31 March 2018

1,589

At 31 March 2017

1

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Trade debtors

398,098

282,095

Other debtors

12,500

23,684

410,598

305,779

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Trade creditors

3,369

17,852

Taxation and social security

151,669

136,971

Other creditors

50,408

22,204

205,446

177,027

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.18

31.3.17

£

£

Other creditors

186,192

220,420

10.	RELATED PARTY DISCLOSURES

Included within creditors falling due within one year are the following balances due to the directors:

- J E Moffat - £9,295 (2017 - £1,817)

- A Cumming - £21,012 (2017 - £8,772)

Included within creditors falling due after one year is a balance due to a company controlled by R Cunningham,

director of £186,192 (2017 - £220,420).

There are no fixed repayment terms and interest is not charged on any of the above balances.

11.	ULTIMATE CONTROLLING PARTY

The company is controlled by R Cunningham, while the loan due to a company controlled by him remains

outstanding.