The John Martin Partnership (QS) Limited - Accounts to registrar (filleted) - small 18.2

The John Martin Partnership (QS) Limited - Accounts to registrar (filleted) - small 18.2


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REGISTERED NUMBER: SC282319(Scotland)















THE JOHN MARTIN PARTNERSHIP (QUANTITY
SURVEYORS) LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2018






THE JOHN MARTIN PARTNERSHIP (QUANTITY
SURVEYORS) LIMITED (REGISTERED NUMBER: SC282319)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2018




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 10

Chartered Accountants' Report 11

THE JOHN MARTIN PARTNERSHIP (QUANTITY
SURVEYORS) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2018







DIRECTOR: Graeme Clement Reid





SECRETARY: Eve Alexandra Reid





REGISTERED OFFICE: 12 Royal Terrace
Glasgow
G3 7NY





REGISTERED NUMBER: SC282319(Scotland)





ACCOUNTANTS: Milne Craig
Chartered Accountants
Abercorn House
79 Renfrew Road
Paisley
Renfrewshire
PA3 4DA

THE JOHN MARTIN PARTNERSHIP (QUANTITY
SURVEYORS) LIMITED (REGISTERED NUMBER: SC282319)

BALANCE SHEET
31 MAY 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,232 1,906
1,232 1,906

CURRENT ASSETS
Stocks 6 38,130 37,073
Debtors 7 95,620 86,463
Cash at bank 2,365 1,350
136,115 124,886
CREDITORS
Amounts falling due within one year 8 112,201 95,455
NET CURRENT ASSETS 23,914 29,431
TOTAL ASSETS LESS CURRENT
LIABILITIES

25,146

31,337

PROVISIONS FOR LIABILITIES 9 47 294
NET ASSETS 25,099 31,043

CAPITAL AND RESERVES
Called up share capital 25,000 25,000
Retained earnings 99 6,043
SHAREHOLDERS' FUNDS 25,099 31,043

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 JOHN MARTIN PARTNERSHIP (QUANTITY
SURVEYORS) LIMITED (REGISTERED NUMBER: SC282319)

BALANCE SHEET - continued
31 MAY 2018


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 26 February 2019and were signed by:





Graeme Clement Reid- Director


THE JOHN MARTIN PARTNERSHIP (QUANTITY
SURVEYORS) LIMITED (REGISTERED NUMBER: SC282319)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2018

1. STATUTORY INFORMATION

The John Martin Partnership (Quantity Surveyors) Limited Limited is a private company, limited by shares,
registered in Scotland. The Company's registered number is SC282319 and registered office address is 12 Royal
Terrace, Glasgow, G3 7NY.

The nature of the Company's operations and its principal activities are that of quantity surveyors.

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.

The financial statements are prepared in sterling, which is the functional currency of the Company. Monetary
amounts in these financial statements are rounded to the nearest £.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the Company
has adequate resources to continue in operational existence for the foreseeable future. Thus the directors
continue to adopt the going concern basis of accounting in preparing the financial statements.

Critical accounting judgements and key sources of estimation uncertainty
In preparing these financial statements, the directors have made the following judgements:

Tangible fixed assets are depreciated over their useful lives taking into account residual values, where
appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending
on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life
cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as
future market conditions, the remaining life of the asset and projected disposal values.

Assets are considered for indications of impairment. If required an impairment review will be carried out and a
decision made on possible impairment. Factors taken into consideration in reaching such a decision include the
economic viability and expected future financial performance of the asset and where it is a component of a larger
cash-generating unit, the viability and expected future performance of that unit.

Bad debts are provided for where objective evidence of the need for a provision exists.

Inventories are assessed for evidence of obsolescence and a provision is made against any inventory unlikely to
be sold, or where stock is sold post year end at a loss.

THE JOHN MARTIN PARTNERSHIP (QUANTITY
SURVEYORS) LIMITED (REGISTERED NUMBER: SC282319)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2018

2. ACCOUNTING POLICIES - continued

Turnover
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and
the revenue can be reliably measured. Consideration is given to the point at which the Company is entitled to
receive the income, excluding discounts, rebates, value added tax and other sales taxes. The following criteria
must also be met before revenue is recognised:

Revenue from the provision of services is recognised in the period in which the services are provided when all of
the following conditions are satisfied:

o the amount of revenue can be measured reliably;
o it is probable that the Company will receive the consideration due;
o the costs incurred can be measured reliably.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of seven 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
Computer equipment - 33% on cost

THE JOHN MARTIN PARTNERSHIP (QUANTITY
SURVEYORS) LIMITED (REGISTERED NUMBER: SC282319)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2018

2. ACCOUNTING POLICIES - continued

Financial instruments
The Company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 '
Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's balance sheet when the Company becomes party to the
contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is
a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to
realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction
price including transactions costs and are subsequently carried at amortised cost using the effective interest
method unless the arrangement constitutes a financing transaction, where the transaction is measured at the
present value of the future receipts discounted at a market rate of interest. Financial assets classified as
receivable within one year are not amortised.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are
settled, or when the Company transfers the financial asset and substantially all the risks and rewards of
ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the
asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual
arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of
the Company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement
constitutes a financing transaction, where the debt instrument is measured at the present value of the future
payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not
amortised.


THE JOHN MARTIN PARTNERSHIP (QUANTITY
SURVEYORS) LIMITED (REGISTERED NUMBER: SC282319)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2018

2. ACCOUNTING POLICIES - continued
Taxation
Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or
past reporting periods using the tax rates and laws that that have been enacted or substantively enacted by the
reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date, except as otherwise indicated.

Deferred tax assets are only recognised to the extent that it is probable that they will be recovered against the
reversal of deferred tax liabilities or other future taxable profits.

If and when all conditions for retaining tax allowances for the cost of a fixed asset have been met, the deferred
tax is reversed.

Deferred tax is calculated using the tax rates and laws that have been enacted or substantively enacted by the
reporting date that are expected to apply to the reversal of the timing difference.

With the exception of changes arising on the initial recognition of a business combination, the tax expense
(income) is presented either in profit or loss, other comprehensive income or equity depending on the transaction
that resulted in the tax expense (income).

Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.

Deferred tax assets and deferred tax liabilities are offset only if the deferred tax assets and deferred tax liabilities
relate to income taxes levied by the same taxation authority on either the same taxable entity or different taxable
entities which intend either to settle current tax liabilities and assets on a net basis, or to realise the assets and
settle the liabilities simultaneously.

Research and development
Expenditure on research activities is recognised in the income statement as an expense as incurred.

Expenditure on development activities is capitalised if the product or process is technically and commercially
feasible and the Company intends to and has the technical ability and sufficient resources to complete
development, future economic benefits are probable and if the Company can measure reliably the expenditure
attributable to the intangible asset during its development. Development activities improve a plan or design for
the production of new or substantially improved products or processes. The expenditure capitalised includes the
cost of materials, direct labour and an appropriate proportion of overheads and capitalised borrowing costs.
Other development expenditure is recognised in the income statement as an expense as incurred. Capitalised
development expenditure is stated at cost less accumulated amortisation and less accumulated impairment losses

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.

THE JOHN MARTIN PARTNERSHIP (QUANTITY
SURVEYORS) LIMITED (REGISTERED NUMBER: SC282319)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2018

2. ACCOUNTING POLICIES - continued

Impairment of assets
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet
date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described
below.

Non-financial assets
An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after
initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an
asset is the higher of its fair value less costs to sell and its value in use.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine
reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable
value does not lead to a revised carrying amount higher than the carrying value had no impairment been
recognised.

Financial assets
For financial assets carried at amortised cost, the amount of impairment is the difference between the asset's
carrying amount and the present value of estimated future cash flows, discounted at the financial asset's original
effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset's
carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at
the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event
occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal.
An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable
value does not lead to a revised carrying amount higher than the carrying value had no impairment been
recognised

Cash and equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks
and other short-term liquid investments with original maturities of three months or less.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4(2017 - 4) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2017
and 31 May 2018 225,000
AMORTISATION
At 1 June 2017
and 31 May 2018 225,000
NET BOOK VALUE
At 31 May 2018 -
At 31 May 2017 -

THE JOHN MARTIN PARTNERSHIP (QUANTITY
SURVEYORS) LIMITED (REGISTERED NUMBER: SC282319)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2018

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 June 2017
and 31 May 2018 5,296 21,556 26,852
DEPRECIATION
At 1 June 2017 3,392 21,554 24,946
Charge for year 672 2 674
At 31 May 2018 4,064 21,556 25,620
NET BOOK VALUE
At 31 May 2018 1,232 - 1,232
At 31 May 2017 1,904 2 1,906

6. STOCKS
2018 2017
£    £   
Work-in-progress 38,130 37,073

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Trade debtors 27,518 16,915
Amounts owed by group undertakings 33,187 45,635
Directors' current accounts 26,268 18,891
Corporation tax recoverable 8,219 4,723
Prepayments and accrued income 428 299
95,620 86,463

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Bank loans and overdrafts 27,220 29,637
Other loans 782 782
Trade creditors 22,342 20,433
Corporation tax 7,120 4,723
Social security and other taxes 42,855 33,346
Other creditors 2,128 -
Accruals and deferred income 9,754 6,534
112,201 95,455

9. PROVISIONS FOR LIABILITIES
2018 2017
£    £   
Deferred tax 47 294

THE JOHN MARTIN PARTNERSHIP (QUANTITY
SURVEYORS) LIMITED (REGISTERED NUMBER: SC282319)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2018

9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 June 2017 294
Provided during year (247 )
Accelerated capital allowances
Balance at 31 May 2018 47

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The director G C Reid benefitted from an unsecured loan from the company. The amount outstanding at 31st
May 2018 was £26,268 (2017 - £18,891).

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Badwater Limited by virtue of their majority shareholding and control of
operating activities.

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
THE JOHN MARTIN PARTNERSHIP (QUANTITY
SURVEYORS) LIMITED

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.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the
financial statements of The John Martin Partnership (Quantity Surveyors) Limited for the year ended 31 May 2018
which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the
company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the director of The John Martin Partnership (Quantity Surveyors) Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of The John Martin Partnership (Quantity Surveyors) Limited and state those matters that we have agreed to state to the director of The John Martin Partnership (Quantity Surveyors) Limited in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that The John Martin Partnership (Quantity Surveyors) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of The John Martin Partnership (Quantity Surveyors) Limited. You consider that The John Martin Partnership (Quantity Surveyors) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of The John Martin Partnership (Quantity Surveyors) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Milne Craig
Chartered Accountants
Abercorn House
79 Renfrew Road
Paisley
Renfrewshire
PA3 4DA


26 February 2019