Ground Crew Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC409850 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 March 2019

for

Ground Crew Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J E Fulford

H Fulford

REGISTERED OFFICE:

6 Logie Mill

Beaverbank Business Park

Edinburgh

Lothian

EH7 4HG

REGISTERED NUMBER:

SC409850 (Scotland)

ACCOUNTANTS:

A H & Co Ltd

Chartered Accountants

6 Logie Mill

Edinburgh

Lothian

EH7 4HG

FIXED ASSETS

Tangible assets

4

-

1,645

CURRENT ASSETS

Debtors

5

1,420

13,236

Investments

6

22,000

22,000

23,420

35,236

CREDITORS

Amounts falling due within one year

7

10,976

5,459

NET CURRENT ASSETS

12,444

29,777

TOTAL ASSETS LESS CURRENT LIABILITIES

12,444

31,422

PROVISIONS FOR LIABILITIES

9

-

280

NET ASSETS

12,444

31,142

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

11

12,344

31,042

SHAREHOLDERS' FUNDS

12,444

31,142

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 18 December 2019 and were signed on its behalf by:

J E Fulford - Director

1.	STATUTORY INFORMATION

Ground Crew Limited 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.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are

considered to have been transferred to the buyer. Turnover from the supply of services represents the value of

services provided under contracts to the extent that there is a right to consideration and is recorded at the fair

value of the consideration received or receivable. Where a contract has only been partially completed at the

balance sheet date turnover represents the fair value of the service provided to date based on the stage of

completion of the contract activity at the balance sheet date. Where payments are received from customers in

advance of services provided, the amounts are recorded as deferred income and included as part of creditors due

within one year.

Tangible fixed assets

Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is

provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of

each asset on a straight-line basis over its expected useful life, as follows:

Fixtures and fittings

-

25% per annum

Computer equipment

-

25% per annum

Residual value represents the estimated amount which would currently be obtained from disposal of an asset,

after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at

the end of its useful life.

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance

sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is

estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an

impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the

impairment loss is a revaluation decrease.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial

instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured

at their settlement value.

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.

Hire purchase and leasing commitments

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are

not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are

similarly spread on a straight-line basis over the lease term.

Investments

Investments are measured at fair value through profit or loss. Where fair value cannot be measured reliably,

investments are measured at cost less impairment.

Provisions

Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past

event, it is probable that the company will be required to settle that obligation and a reliable estimate can be

made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present

obligation at the balance sheet date, taking into account the risks and uncertainties surrounding the obligation.

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a

small company.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 April 2018

and 31 March 2019

6,000

6,123

12,123

DEPRECIATION

At 1 April 2018

4,500

5,978

10,478

Charge for year

1,500

145

1,645

At 31 March 2019

6,000

6,123

12,123

NET BOOK VALUE

At 31 March 2019

-

-

-

At 31 March 2018

1,500

145

1,645

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Other debtors

1,420

13,236

6.	CURRENT ASSET INVESTMENTS

31.3.19

31.3.18

£

£

Unlisted investments

22,000

22,000

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Bank loans and overdrafts

3

3

Taxation and social security

-

5,174

Other creditors

10,973

282

10,976

5,459

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.3.19

31.3.18

£

£

Within one year

5,633

5,633

Between one and five years

7,979

13,612

13,612

19,245

9.	PROVISIONS FOR LIABILITIES

31.3.19

31.3.18

£

£

Deferred tax

-

280

Deferred

tax

£

Balance at 1 April 2018

280

Credit to Income Statement during year

(280

)

Balance at 31 March 2019

-

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.19

31.3.18

value:

£

£

100

Ordinary

£1

100

100

11.

RESERVES

Retained

earnings

£

At 1 April 2018

31,042

Deficit for the year

(9,698

)

Dividends

(9,000

)

At 31 March 2019

12,344

12.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the year end the company owed the directors £9,445 (2018: directors owed the company £13,236).

13.	RELATED PARTY DISCLOSURES

During the year, total dividends of £9,000 (2018 - £10,000) were paid to the director .

Transactions with related parties during the year and balances outstanding at the year end were as follows:

Related Party

Type of Transaction

Amount

Balance receivable or (payable) by related party as at 31.3.19

Balance receivable or (payable) by related party as at 31.3.18

Director

Rent

£208 (2018: £208)

-

-

14.	CONTROLLING INTEREST

There is no overall controlling interest.