Rayner Sim (Fishing) Ltd. - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC243553 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 March 2019

for

Rayner Sim (Fishing) Ltd.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

R W Sim

Mrs K Sim

SECRETARY:

Mrs K Sim

REGISTERED OFFICE:

2 Cross Street

Fraserburgh

Aberdeenshire

AB43 9EQ

REGISTERED NUMBER:

SC243553 (Scotland)

ACCOUNTANTS:

SBP

Accountants

2 Cross Street

Fraserburgh

Aberdeenshire

AB43 9EQ

FIXED ASSETS

Tangible assets

4

7,720

-

CURRENT ASSETS

Cash at bank

76,659

52,230

CREDITORS

Amounts falling due within one year

5

31,195

22,677

NET CURRENT ASSETS

45,464

29,553

TOTAL ASSETS LESS CURRENT LIABILITIES

53,184

29,553

PROVISIONS FOR LIABILITIES

1,467

-

NET ASSETS

51,717

29,553

CAPITAL AND RESERVES

Called up share capital

6

100

100

Retained earnings

7

51,617

29,453

SHAREHOLDERS' FUNDS

51,717

29,553

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 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 applicable to companies subject to the small companies regime.

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 Board of Directors on 3 December 2019 and were signed on its behalf by:

R W Sim - Director

1.	STATUTORY INFORMATION

Rayner Sim (Fishing) 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 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.

The financial statements have been prepared in UK £ sterling.

Turnover

Turnover represents amounts receivable for services provided in the normal course of business, net of discounts

and VAT. Revenue is recognised to the extent that it is probable that economic benefit will flow to the company

and when its value can be measured with a sufficient degree of certainty and reliability. All income is recognised

in the accounting period to which it relates.

Tangible fixed assets

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

Motor vehicles

-

25% on reducing balance

Tangible fixed assets are included at cost less depreciation and impairment. The residual value is reassessed at

the end of each accounting period.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and

Retained Earnings, 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.

Debtors and creditors receivable /payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at

transaction price. Any losses arising from impairment are recognised in the profit and loss account in other

administrative costs.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2018 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Motor

vehicles

£

COST

Additions

9,495

At 31 March 2019

9,495

DEPRECIATION

Charge for year

1,775

At 31 March 2019

1,775

NET BOOK VALUE

At 31 March 2019

7,720

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Tax

20,504

21,352

Directors' current accounts

9,410

225

Accrued expenses

1,281

1,100

31,195

22,677

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.19

31.3.18

value:

£

£

100

Ordinary

£1

100

100

7.

RESERVES

Retained

earnings

£

At 1 April 2018

29,453

Profit for the year

93,664

Dividends

(71,500

)

At 31 March 2019

51,617

8.	RELATED PARTY DISCLOSURES

During the year, total dividends of £71,500 were paid to the directors .

The directors operate current accounts with the company and as at the financial year end the combined balance

owing to them was £9,410. There are no fixed terms of repayment and no interest is accrued.

9.	ULTIMATE CONTROLLING PARTY

The company is controlled by the directors who between them own 100% of the issued share capital.