ION Electrical (Scotland) Limited (formerly Ramsay & Allardice Electrical Services Limited) Filleted accounts for Companies House (small and micro)
ION Electrical (Scotland) Limited (formerly Ramsay & Allardice Electrical Services Limited) Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
SC563562
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Statement of Financial Position |
2018 |
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Note |
£ |
Fixed assets
Tangible assets |
5 |
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Current assets
Stocks |
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Debtors |
6 |
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Cash at bank and in hand |
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|
------- |
||
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Creditors: amounts falling due within one year |
7 |
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------- |
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Net current liabilities |
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-------- |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
8 |
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Provisions |
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-------- |
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Net assets |
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-------- |
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Capital and reserves
Profit and loss account |
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---- |
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Shareholders funds |
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---- |
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In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476
;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
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Statement of Financial Position (continued) |
These financial statements were approved by the
board of directors
and authorised for issue on
15 January 2019
, and are signed on behalf of the board by:
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Director |
Company registration number:
SC563562
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Notes to the Financial Statements |
Period ended 30 April 2018
1.
General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Spalding House, 90-92 Queen Street, Broughty Ferry, Dundee, DD5 1AJ.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 May 2016. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 9.
Revenue recognition
Income tax
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor vehicles |
- |
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Equipment |
- |
20% straight line |
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Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Finance leases and hire purchase contracts
Provisions
Financial instruments
4.
Employee numbers
The average number of persons employed by the company during the period amounted to
2
.
5.
Tangible assets
Motor vehicles |
Equipment |
Total |
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£ |
£ |
£ |
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Cost |
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At 1 May 2017 |
– |
– |
– |
Additions |
|
6,000 |
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-------- |
------- |
-------- |
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At 30 April 2018 |
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6,000 |
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-------- |
------- |
-------- |
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Depreciation |
|||
At 1 May 2017 |
– |
– |
– |
Charge for the period |
|
100 |
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-------- |
------- |
-------- |
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At 30 April 2018 |
|
100 |
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-------- |
------- |
-------- |
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Carrying amount |
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At 30 April 2018 |
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5,900 |
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-------- |
------- |
-------- |
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6.
Debtors
2018 |
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£ |
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Trade debtors |
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------- |
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7.
Creditors:
amounts falling due within one year
2018 |
|
£ |
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Trade creditors |
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Other creditors |
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------- |
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------- |
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8.
Creditors:
amounts falling due after more than one year
2018 |
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£ |
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Other creditors |
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-------- |
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9.
Transition to FRS 102
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 May 2016.
No transitional adjustments were required in equity or profit or loss for the year.