A.D. Coates & Co Ltd Filleted accounts for Companies House (small and micro)

A.D. COATES & CO LTD - Company Information

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COMPANY REGISTRATION NUMBER: SC305560

A.D. Coates & Co Ltd

Filleted Unaudited Financial Statements

For the year ended

30 September 2019

A.D. Coates & Co Ltd

Financial Statements

Year ended 30 September 2019

Contents	Pages

Statement of financial position	1

Notes to the financial statements	2 to 5

A.D. Coates & Co Ltd

Statement of Financial Position

30 September 2019

	2019		2018
Note	£	£	£

Fixed assets

Tangible assets	5		3,565	646

Current assets

Debtors	6	106,310	59,210
Cash at bank and in hand		246,973	318,348
		---------	---------
		353,283	377,558

Creditors: amounts falling due within one year	7	129,219		87,188
		---------		---------
Net current assets			224,064	290,370
			---------	---------
Total assets less current liabilities			227,629	291,016

Provisions	462	110
	---------	---------
Net assets	227,167	290,906
	---------	---------

Capital and reserves

Called up share capital	8	1,998	1,998
Profit and loss account		225,169	288,908
		---------	---------
Shareholders funds		227,167	290,906
		---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 30 September 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 26 February 2020 , and are signed on behalf of the board by:

A D Coates

Director

Company registration number: SC305560

A.D. Coates & Co Ltd

Notes to the Financial Statements

Year ended 30 September 2019

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is c/o Chiene + Tait LLP, 61 Dublin Street, Edinburgh, EH3 6NL.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. Going concern The financial statements have been prepared on a going concern basis. The directors have assessed the Company's ability to continue as a going concern and have reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future, as shown on the note Events after the end of the reporting period. On this basis they continue to adopt the going concern basis of accounting in preparing these financial statements.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	25% straight line
Equipment	-	25% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial assets, which include trade and other debtors and cash, are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Basic financial liabilities, which include trade and other creditors, are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. At each reporting date the company assesses whether there is objective evidence that any financial asset has been impaired. A provision for impairment is established when there is objective evidence that the company will not be able to collect all amounts due. The amount of the provision is recognised immediately in profit or loss.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 5 (2018: 4 ).

5. Tangible assets

	Plant and machinery	Equipment	Total
	£	£	£
Cost
At 1 October 2018	1,050	10,634	11,684
Additions	–	4,682	4,682
	-------	--------	--------
At 30 September 2019	1,050	15,316	16,366
	-------	--------	--------
Depreciation
At 1 October 2018	1,050	9,988	11,038
Charge for the year	–	1,763	1,763
	-------	--------	--------
At 30 September 2019	1,050	11,751	12,801
	-------	--------	--------
Carrying amount
At 30 September 2019	–	3,565	3,565
	-------	--------	--------
At 30 September 2018	–	646	646
	-------	--------	--------

6. Debtors

	2019	2018
	£	£
Trade debtors	102,061	55,738
Other debtors	4,249	3,472
	---------	--------
	106,310	59,210
	---------	--------

7. Creditors: amounts falling due within one year

	2019	2018
	£	£
Trade creditors	1,772	302
Corporation tax	44,439	41,327
Social security and other taxes	64,579	32,792
Other creditors	18,429	12,767
	---------	--------
	129,219	87,188
	---------	--------

8. Called up share capital

Issued, called up and fully paid

	2019		2018
	No.	£	No.	£
Ordinary A shares of £ 1 each	1,000	1,000.00	1,000	1,000.00
Ordinary B shares of £ 1 each	499	499.00	499	499.00
Ordinary C shares of £ 1 each	499	499.00	499	499.00
	-------	----------	-------	----------
	1,998	1,998.00	1,998	1,998.00
	-------	----------	-------	----------