Ferguson Oliver Limited - Accounts to registrar (filleted) - small 18.2
Ferguson Oliver Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Financial Statements for the Year Ended 31 October 2018 |
| for |
| Ferguson Oliver Limited |
| Ferguson Oliver Limited (Registered number: SC116960) |
| Contents of the Financial Statements |
| for the Year Ended 31 October 2018 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Report of the Accountant | 7 |
| Ferguson Oliver Limited |
| Company Information |
| for the Year Ended 31 October 2018 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANT: |
| PO Box 7003 |
| Forfar |
| Angus |
| DD8 0BA |
| Ferguson Oliver Limited (Registered number: SC116960) |
| Balance Sheet |
| 31 October 2018 |
| 2018 | 2017 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Capital redemption reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| Ferguson Oliver Limited (Registered number: SC116960) |
| Balance Sheet - continued |
| 31 October 2018 |
| 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 by: |
| Ferguson Oliver Limited (Registered number: SC116960) |
| Notes to the Financial Statements |
| for the Year Ended 31 October 2018 |
| 1. | STATUTORY INFORMATION |
| Ferguson Oliver Limited is a |
| registered number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents commissions received and receivable in respect of policies taken out during the year and |
| business written. Commissions arise wholly within the UK from the company's sole activity. |
| Tangible fixed assets |
| Fixtures and fittings | - |
| Motor vehicles | - |
| The part of the annual depreciation charge on revalued assets which relates to the revaluation surplus is |
| transferred from the revaluation reserve to the profit and loss account. |
| 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. |
| Pensions |
| The company operates a defined contribution scheme covering certain employees. |
| The assets of the scheme are held separately from those of the company in independently administered funds. |
| The pension cost charge represents contributions payable by the company to the fund and amounted to £7,550 |
| (2017 - £4,124). There were no accrued or prepaid contributions at 31 October 2017 (2017 - £Nil) |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Ferguson Oliver Limited (Registered number: SC116960) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 October 2018 |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and | Motor |
| fittings | vehicles | Totals |
| £ | £ | £ |
| COST |
| At 1 November 2017 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 October 2018 |
| DEPRECIATION |
| At 1 November 2017 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 October 2018 |
| NET BOOK VALUE |
| At 31 October 2018 |
| At 31 October 2017 |
| The freehold property was valued at £160,000 by J & E Shepherd Chartered Surveyors on an open market basis |
| on 22 February 2010, in accordance with RICS statement of Asset Valuation Practice and Guidance Notes. |
| The premises were transferred to the company pension scheme on 5 September 2016 at a value of £160,000. |
| From 1 October 2016, Ferguson Oliver Ltd pays a monthly rental for the property to the pension fund. |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Hire purchase contracts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Hire purchase contracts |
| Ferguson Oliver Limited (Registered number: SC116960) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 October 2018 |
| 8. | RELATED PARTY DISCLOSURES |
| The company made pension payments of £50,000 (2017 - £52,000) to the Ferguson Oliver Small Self |
| Administered Scheme. On 5 September 2016 the property was transferred at Fair Value to the afore mentioned |
| pension scheme. |
| In 2012 a loan of £30,000 was made to FIS Enterprises Limited, a company of which Michael Ferguson is also a |
| director. The loan is repayable within 5 years and interest is charged at base rate plus 2%. Interest receivable of |
| £5,250 (2017 - £4,500) is included within the accounts. The balance outstanding on this loan at the year end was |
| £30,000 (2017 - £30,000). |
| Also in 2012 a loan of £100,000 was made to Forfar Indoor Sports Limited, a company of which Michael |
| Ferguson is also a director. The loan is repayable within 5 years and interest is charged at base rate plus 2%. In |
| 2014, further loans of £100,000 and £20,000 were made. These amounts are also repayable within 5 years and |
| the same interest rate is being applied. Interest receivable of £31,250 (2017 - £25,750) is included within the |
| accounts in prepayments. The balance outstanding at the year end was £220,000 (2017 - £220,000). |
| The duration of the loans is currently under review. |
| At the year end £11,583 (£2017 - £11,583) was due to the company by Michael Ferguson and £99,400 (2017 - |
| £99,400) was due to the company by Ken Ferguson. Interest was paid at the HMRC official rates of interest on |
| the above loans by the directors. |
| Dividends of £334,280 (2017 - £314,280) were paid to the directors during the year. |
| Ferguson Oliver Limited |
| Report of the Accountant to the Directors of |
| Ferguson Oliver Limited |
| The following reproduces the text of the report prepared for the directors 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 Directors 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 31 October 2018 set out on pages nil to nil and you consider that the company is exempt from an audit. |
| In accordance with your instructions, I 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 me. |
| PO Box 7003 |
| Forfar |
| Angus |
| DD8 0BA |