S.A.M.S. (Scotland) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC397386 (Scotland)

Unaudited Financial Statements

for the Year Ended 30 April 2018

for

S.A.M.S. (Scotland) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S Harvie

D Harvie

SECRETARY:

D Harvie

REGISTERED OFFICE:

Meikledrumgray Farm

Wattson

Airdrie

Lanarkshire

ML6 7TY

REGISTERED NUMBER:

SC397386 (Scotland)

ACCOUNTANTS:

Gordon Ferguson & Co Ltd

Upper Floor

Comac House

2 Coddington Crescent

Eurocentral

Lanarkshire

ML1 4YF

FIXED ASSETS

Intangible assets

4

10,500

14,000

Tangible assets

5

26,080

34,412

36,580

48,412

CURRENT ASSETS

Stocks

750

1,000

Debtors

6

9,306

25,253

Cash at bank and in hand

14,592

21,397

24,648

47,650

CREDITORS

Amounts falling due within one year

7

34,979

49,654

NET CURRENT LIABILITIES

(10,331

)

(2,004

)

TOTAL ASSETS LESS CURRENT LIABILITIES

26,249

46,408

CREDITORS

Amounts falling due after more than one year

8

(2,368

)

(12,179

)

PROVISIONS FOR LIABILITIES

(3,923

)

(2,619

)

NET ASSETS

19,958

31,610

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

19,956

31,608

SHAREHOLDERS' FUNDS

19,958

31,610

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 22 January 2019 and were signed on its behalf by:

S Harvie - Director

D Harvie - Director

1.	STATUTORY INFORMATION

S.A.M.S. (Scotland) 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.

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 2011, is being amortised evenly over its estimated useful life of ten 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2017 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 May 2017

and 30 April 2018

35,000

AMORTISATION

At 1 May 2017

21,000

Charge for year

3,500

At 30 April 2018

24,500

NET BOOK VALUE

At 30 April 2018

10,500

At 30 April 2017

14,000

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 May 2017

57,970

Additions

282

At 30 April 2018

58,252

DEPRECIATION

At 1 May 2017

23,558

Charge for year

8,614

At 30 April 2018

32,172

NET BOOK VALUE

At 30 April 2018

26,080

At 30 April 2017

34,412

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 May 2017

and 30 April 2018

36,429

DEPRECIATION

At 1 May 2017

7,400

Charge for year

7,257

At 30 April 2018

14,657

NET BOOK VALUE

At 30 April 2018

21,772

At 30 April 2017

29,029

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.18

30.4.17

£

£

Trade debtors

6,722

23,471

Other debtors

2,584

1,782

9,306

25,253

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.18

30.4.17

£

£

Hire purchase contracts

9,811

11,063

Trade creditors

10,227

6,808

Taxation and social security

9,770

16,497

Other creditors

5,171

15,286

34,979

49,654

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.18

30.4.17

£

£

Hire purchase contracts

2,368

12,179

9.	RELATED PARTY DISCLOSURES

During the year, total dividends of £27,000 (2017 - £24,000) were paid to the directors .

10.	ULTIMATE CONTROLLING PARTY