A & E Construction (Scotland) Ltd. - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC409828 (Scotland)

Unaudited Financial Statements for the Year Ended 31 October 2018

for

A & E Construction (Scotland) Ltd.

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

19,099

25,624

CURRENT ASSETS

Stocks

806

9,390

Debtors

5

192,636

76,310

Cash at bank and in hand

3,020

10,358

196,462

96,058

CREDITORS

Amounts falling due within one year

6

(192,159

)

(99,153

)

NET CURRENT ASSETS/(LIABILITIES)

4,303

(3,095

)

TOTAL ASSETS LESS CURRENT LIABILITIES

23,402

22,529

CREDITORS

Amounts falling due after more than one year

7

(9,777

)

(7,046

)

PROVISIONS FOR LIABILITIES

(3,247

)

(5,125

)

NET ASSETS

10,378

10,358

CAPITAL AND RESERVES

Called up share capital

3

3

Retained earnings

10,375

10,355

SHAREHOLDERS' FUNDS

10,378

10,358

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 11 July 2019 and were signed by:

James McLelland - Director

1.	STATUTORY INFORMATION

A & E Construction (Scotland) Ltd is a private company, limited by shares, domiciled in Scotland, registration

number SC409828. The registered office is 6 Oliver Road, Falkirk, Stirlingshire, FK1 1SR.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net invoiced sale of services in respect of project management work excluding value added

tax. Sales are recognised at the point at which the service is complete.

Tangible fixed assets and depreciation

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

-

25% on reducing balance

Computer equipment

-

33% on cost

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any

incidental costs of acquisition.

Stocks

Stock is valued at the lower of cost and net realisable value.

Stock comprises of the purchase price of the materials , land and other direct costs associated with buying and

renovating a property.

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.

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

lease.

Provisions

Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is

probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably

estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time

value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is

determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of

an outflow with respect to any one item included in the same class of obligations may be small.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

£

£

£

COST

At 1 November 2017

and 31 October 2018

37,856

1,255

39,111

DEPRECIATION

At 1 November 2017

12,426

1,061

13,487

Charge for year

6,345

180

6,525

At 31 October 2018

18,771

1,241

20,012

NET BOOK VALUE

At 31 October 2018

19,085

14

19,099

At 31 October 2017

25,430

194

25,624

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

Plant and

machinery

£

COST

At 1 November 2017

and 31 October 2018

23,059

DEPRECIATION

At 1 November 2017

6,344

Charge for year

4,178

At 31 October 2018

10,522

NET BOOK VALUE

At 31 October 2018

12,537

At 31 October 2017

16,715

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.18

31.10.17

£

£

Trade debtors

119,129

20,611

Other debtors

73,507

55,699

192,636

76,310

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.18

31.10.17

£

£

Bank loans and overdrafts

-

5,853

Hire purchase contracts

7,686

7,686

Trade creditors

149,016

60,091

Taxation and social security

31,603

23,907

Other creditors

3,854

1,616

192,159

99,153

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.10.18

31.10.17

£

£

Hire purchase contracts

-

7,046

Other creditors

9,777

-

9,777

7,046

8.	ULTIMATE CONTROLLING PARTY

The controlling party is James McLelland.