James Gammie & Sons Ltd - Accounts to registrar (filleted) - small 18.2
James Gammie & Sons Ltd - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 May 2020 |
| for |
| James Gammie & Sons Ltd |
| James Gammie & Sons Ltd (Registered number: SC554192) |
| Contents of the Financial Statements |
| for the Year Ended 31 May 2020 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| James Gammie & Sons Ltd |
| Company Information |
| for the Year Ended 31 May 2020 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Accountants |
| 9 Carmelite Street |
| Banff |
| Aberdeenshire |
| AB45 1AF |
| James Gammie & Sons Ltd (Registered number: SC554192) |
| Balance Sheet |
| 31 May 2020 |
| 31.5.20 | 31.5.19 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | 7 |
| NET (LIABILITIES)/ASSETS | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 8 |
| Retained earnings | 9 | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) |
| The director acknowledges his 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. |
| James Gammie & Sons Ltd (Registered number: SC554192) |
| Balance Sheet - continued |
| 31 May 2020 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the director and authorised for issue on |
| James Gammie & Sons Ltd (Registered number: SC554192) |
| Notes to the Financial Statements |
| for the Year Ended 31 May 2020 |
| 1. | STATUTORY INFORMATION |
| James Gammie & Sons Ltd is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Plant and machinery | - |
| Farm vehicles | - |
| Motor vehicles | - |
| Computer equipment | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| James Gammie & Sons Ltd (Registered number: SC554192) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 May 2020 |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and | Farm | Motor | Computer |
| machinery | vehicles | vehicles | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 June 2019 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 May 2020 |
| DEPRECIATION |
| At 1 June 2019 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 May 2020 |
| NET BOOK VALUE |
| At 31 May 2020 |
| At 31 May 2019 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.5.20 | 31.5.19 |
| £ | £ |
| Trade debtors |
| Other debtors |
| VAT |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.5.20 | 31.5.19 |
| £ | £ |
| Trade creditors |
| Tax |
| Social security and other taxes |
| Other creditors |
| Directors' current accounts | 206,297 | 198,244 |
| Accrued expenses |
| 7. | PROVISIONS FOR LIABILITIES |
| 31.5.20 | 31.5.19 |
| £ | £ |
| Deferred tax | 13,018 | 13,477 |
| James Gammie & Sons Ltd (Registered number: SC554192) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 May 2020 |
| 7. | PROVISIONS FOR LIABILITIES - continued |
| Deferred |
| tax |
| £ |
| Balance at 1 June 2019 |
| Credit to Income Statement during year | ( |
) |
| Balance at 31 May 2020 |
| 8. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.5.20 | 31.5.19 |
| value: | £ | £ |
| Ordinary | £1 | 2 | 2 |
| 9. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1 June 2019 |
| Deficit for the year | ( |
) |
| At 31 May 2020 | ( |
) |