Yieldshields Tree Surgeons Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC403906 (Scotland)

Unaudited Financial Statements for the Year Ended 31 July 2018

for

Yieldshields Tree Surgeons Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

J Boyle

Mrs D Boyle

REGISTERED OFFICE:

Middle Hope Farm

Carluke

Lanarkshire

ML8 4QY

REGISTERED NUMBER:

SC403906 (Scotland)

ACCOUNTANTS:

Turner Accountancy Ltd

17-19 Motherwell Road

Carfin

ML1 EB

FIXED ASSETS

Tangible assets

4

6,565

7,492

CURRENT ASSETS

Debtors

5

2,826

355

Cash at bank and in hand

2,506

65

5,332

420

CREDITORS

Amounts falling due within one year

6

10,826

11,105

NET CURRENT LIABILITIES

(5,494

)

(10,685

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,071

(3,193

)

PROVISIONS FOR LIABILITIES

571

1,498

NET ASSETS/(LIABILITIES)

500

(4,691

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

400

(4,791

)

500

(4,691

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 4 April 2019 and were signed on its behalf by:

J Boyle - Director

1.	STATUTORY INFORMATION

Yieldshields Tree Surgeons 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.

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.

Significant judgements and estimates

The preparation of the financial statements requires management to make judgements,

estimates and assumptions that affect the amounts reported.

These estimates and judgements are continually reviewed and are based on experience

and other factors, including expectations of future events that are believed to be reasonable

under the circumstances.

Significant judgements

The judgements (apart from those involving estimations) that management has made in the

process of applying the entity's accounting policies and that have the most significant effect

on the amounts recognized in the financial statements are as follows:

Key sources of estimation uncertainty

Accounting estimates and assumptions are made concerning the future and, by their

nature, will rarely equal the related actual outcome.

The key assumptions and other sources of estimation uncertainty that have a significant risk

of causing a material adjustment to the carrying amounts of assets and liabilities within the

next financial year are as follows:

The company has made estimates when accounting for various provisions such as bad

debts or stock provisions. These estimates are a reflection of what the company believes to

be realistic at that given time.

Turnover

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

discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Plant and machinery

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Financial instruments

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 entity after deducting all of its financial liabilities.

Financial assets that are measured at cost and amortised cost are assessed at the end of

each reporting period for objective evidence of impairment. If objective evidence of

impairment is found, an impairment loss is recognised in the Income statement.

Financial assets and liabilities are offset and the net amount reported in the Statement of

financial position when there is an 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.

Debt instruments (other than those wholly repayable or receivable within one year),

including loans and other accounts receivable and payable, are initially measured at present

value of the future cash flows and subsequently at amortised cost using the effective

interest method. Debt instruments that are payable or receivable within one year, typically

trade payables or receivables, are measured, initially and subsequently, at the undiscounted

amount of the cash or other consideration expected to be paid or received. However if the

arrangements of a short-term instrument constitute a financing transaction, like the payment

of a trade debt deferred beyond normal business terms or financed at a rate of interest that

is not a market rate or in case of an out-right short-term loan not at market rate, the

financial asset or liability is measured, initially, at the present value of the future cash flow

discounted at a market rate of interest for a similar debt instrument and subsequently at

amortised cost.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not

reversed at the statement of financial position 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

Rentals paid under operating leases are charged to profit or loss on a straight line basis

over the period of the lease.

Going concern

At the balance sheet date, the company's liabilities exceeded its total assets by £180,209.

In order to meet its day to day working capital requirements, the company requires the

continuing support of the directors.

The financial statements have been prepared on an ongoing basis which assumes that the

company will continue in operational existence for the foreseeable future.

If the company was unable to continue in operational existence for the foreseeable future,

adjustments would have to be made to reduce the balance sheet values of assets to their

recoverable amounts, to provide further liabilities that might arise.

The directors believe that it is appropriate for the financial statements to be prepared on a

going concern basis.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 August 2017

12,649

5,500

1,110

19,259

Additions

840

-

-

840

At 31 July 2018

13,489

5,500

1,110

20,099

DEPRECIATION

At 1 August 2017

7,180

3,675

912

11,767

Charge for year

1,261

456

50

1,767

At 31 July 2018

8,441

4,131

962

13,534

NET BOOK VALUE

At 31 July 2018

5,048

1,369

148

6,565

At 31 July 2017

5,469

1,825

198

7,492

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.18

31.7.17

£

£

Other debtors

2,826

355

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.18

31.7.17

£

£

Taxation and social security

1,068

1,689

Other creditors

9,758

9,416

10,826

11,105

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended

31 July 2018 and 31 July 2017:

31.7.18

31.7.17

£

£

J Boyle

Balance outstanding at start of year

(796

)

(16,294

)

Amounts advanced

6,348

19,470

Amounts repaid

(2,725

)

(3,972

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

2,827

(796

)