Merkland Tank Limited - Accounts to registrar (filleted) - small 18.2
Merkland Tank Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
MERKLAND TANK LIMITED |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2019 |
MERKLAND TANK LIMITED (REGISTERED NUMBER: SC282068) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2019 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
MERKLAND TANK LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 JANUARY 2019 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Statutory Auditors |
Chartered Accountants |
Citypoint 2 |
25 Tyndrum Street |
Glasgow |
G4 0JY |
BANKERS: |
339 Byres Road |
Glasgow |
G12 8QH |
MERKLAND TANK LIMITED (REGISTERED NUMBER: SC282068) |
BALANCE SHEET |
31 JANUARY 2019 |
2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
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 | 9 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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: |
MERKLAND TANK LIMITED (REGISTERED NUMBER: SC282068) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2019 |
1. | STATUTORY INFORMATION |
Merkland Tank Limited is a private company, limited by shares, registered in Scotland. The company's |
registered number is SC282068 and its registered office is 14 Loanbank Quadrant, Govan, Glasgow, G51 3HZ. |
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. |
Going concern |
The directors having considered the company's working capital requirements have a reasonable expectation that |
the company has adequate resources to continue for the foreseeable future and accordingly the directors continue |
to adopt the going concern basis in preparing the financial statements. |
Revenue recognition |
Turnover is measured at the fair value of the consideration received or receivable. |
Turnover represents net invoiced sale of tank and boiler servicing, insulation and engineering, excluding value |
added tax. |
Tangible fixed assets |
Depreciation of fixed assets is calculated to write off their cost or valuation less any residual value over their |
estimated useful lives as follows: |
Plant and machinery | 5 years |
Motor vehicles | 5 years |
Fixtures and fittings | 5 years |
Computer equipment | 3 years |
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. |
Financial instruments |
Debtors |
Trade and other debtors are recognised at the settlement amount due with appropriate allowances for any |
irrecoverable amounts when there is objective evidence that the asset is impaired. |
Cash and cash equivalents |
Cash and cash equivalents in the balance sheet comprise cash on hand and cash at bank with a short term of |
maturity, being twelve months or less, from the opening of the deposit or similar account. |
Creditors |
Trade creditors and other creditors due in less than one year are all recognised where the company has a present |
obligation resulting from a past event and are recognised at the settlement amount due after allowing for any |
trade discounts due. |
MERKLAND TANK LIMITED (REGISTERED NUMBER: SC282068) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2019 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 February 2018 |
Additions |
Disposals | ( |
) |
At 31 January 2019 |
DEPRECIATION |
At 1 February 2018 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31 January 2019 |
NET BOOK VALUE |
At 31 January 2019 |
At 31 January 2018 |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Plant and |
machinery |
etc |
£ |
COST |
At 1 February 2018 |
Additions |
At 31 January 2019 |
DEPRECIATION |
At 1 February 2018 |
Charge for year |
At 31 January 2019 |
NET BOOK VALUE |
At 31 January 2019 |
At 31 January 2018 |
MERKLAND TANK LIMITED (REGISTERED NUMBER: SC282068) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2019 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade debtors |
Amounts recoverable on contracts |
Other debtors |
An amount of £39,179 due from company director Mr R.E.S. Horne is included in other debtors as at 31 January |
2018. This amount was repaid in full on 9 April 2018. |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Hire purchase contracts |
Trade creditors |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2019 | 2018 |
£ | £ |
Hire purchase contracts |
8. | SECURED DEBTS |
Nevis Capital LLP hold a floating charge over the whole of the property and undertaking of the company. |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2019 | 2018 |
value: | £ | £ |
Ordinary shares | £1 | 5,000 | 5,000 |
10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
MERKLAND TANK LIMITED (REGISTERED NUMBER: SC282068) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2019 |
11. | COMMITMENTS |
Non-cancellable operating leases - commitments over the remaining life of those leases fall due as follows: |
2019 | 2018 |
£ | £ |
Within one year | 40,504 | 40,000 |
Between one and five years | 161,638 | 160,000 |
Due after five years | 96,667 | 136,667 |
298,809 | 376,667 |
12. | PARENT UNDERTAKING |
The company is a subsidiary of Merkland Tank Holdings Limited, a company incorporated in the UK. |
The registered office of Merkland Tank Holdings Limited is 221 West George Street, Glasgow, G2 2ND. |