Iain Carruthers Construction Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC269324 (Scotland)

Unaudited Financial Statements for the Year Ended 30th April 2018

for

Iain Carruthers Construction Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

4

Report of the Accountants

5

DIRECTOR:

I J Carruthers

SECRETARY:

I J Carruthers

REGISTERED OFFICE:

Westwinds

Bellevue Road

Dornock

Annan

Dumfriesshire

DG12 6SW

REGISTERED NUMBER:

SC269324 (Scotland)

ACCOUNTANTS:

Farries Kirk & McVean

Dumfries Enterprise Park

Heathhall

Dumfries

DUMFRIESSHIRE

DG1 3SJ

CURRENT ASSETS

Stocks

394,500

214,500

Debtors

3

370,430

620,925

Cash at bank

13,791

68

778,721

835,493

CREDITORS

Amounts falling due within one year

4

(61,255

)

(121,042

)

NET CURRENT ASSETS

717,466

714,451

TOTAL ASSETS LESS CURRENT LIABILITIES

717,466

714,451

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

717,366

714,351

SHAREHOLDERS' FUNDS

717,466

714,451

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 25th January 2019 and were signed by:

I J Carruthers - Director

1.	STATUTORY INFORMATION

Iain Carruthers Construction 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 represents net invoiced sales from building contracting, excluding value added tax.

Stocks

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

Financial instruments

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short term highly liquid investments that are

readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for the sale of goods and services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price and represent the full value of the goods and services charged to

customers, including any amounts charged on for third parties.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from

suppliers.

Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the

reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional

right to defer settlement for at least twelve months after the reporting date they are presented as non current liabilities.

Borrowings

Interest bearing borrowings are initially recorded at fair value, net of transaction costs. Interest bearing borrowings are

subsequently carried at amortised cost, with the difference between the proceeds, net of transactions costs, and the amount due on

redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

3.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

-

250,495

Other debtors

370,430

370,430

370,430

620,925

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

52,721

76,440

Taxation and social security

1,880

2,258

Other creditors

6,654

42,344

61,255

121,042

5.	RELATED PARTY DISCLOSURES

During the year, total dividends of £5,000 were paid to the director .

I J Carruthers

At 30th April 2018, the company operated a directors' loan with I J Carruthers. This sum is repayable on demand and no interest

is charged on the sum advanced.

Amount due to I J Carruthers at 30th April 2018 - £454 (2017 - £36,144)

Iain Carruthers Construction

A sole trader business of which I J Carruthers is the proprietor.

During the year under review a total of £180,000 (2017 - £182,500) was invoiced to the company by the partnership for

subcontracting work carried out.

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial

statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are

cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be

filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 30th April 2018 set out on pages three to seven and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Farries Kirk & McVean

Dumfries Enterprise Park

Heathhall

Dumfries

DUMFRIESSHIRE

DG1 3SJ

25th January 2019