Home Control Scotland Ltd - Accounts to registrar - small 17.2

REGISTERED NUMBER: SC354561 (Scotland)

Unaudited Financial Statements for the Year Ended 28 February 2017

for

Home Control Scotland Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Simon McCrory

Scott Phillips

REGISTERED OFFICE:

40-44 Thistle Street

Edinburgh

EH2 1EN

REGISTERED NUMBER:

SC354561 (Scotland)

ACCOUNTANTS:

Steedman & Company Limited

7 Howe Street

Edinburgh

Midlothian

EH3 6TE

FIXED ASSETS

Tangible assets

3

12,349

CURRENT ASSETS

Stocks

54,327

Debtors

4

34,574

Cash at bank

2,514

91,415

CREDITORS

Amounts falling due within one year

5

87,625

NET CURRENT ASSETS

3,790

TOTAL ASSETS LESS CURRENT LIABILITIES

16,139

CREDITORS

Amounts falling due after more than one year

6

7,803

NET ASSETS

8,336

CAPITAL AND RESERVES

Called up share capital

5

Retained earnings

8,331

SHAREHOLDERS' FUNDS

8,336

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 5 April 2017 and were signed on its behalf by:

Simon McCrory - Director

Scott Phillips - Director

1.	STATUTORY INFORMATION

Home Control Scotland 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 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.

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

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

Plant and machinery etc

-

20% on reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due

allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's

pension scheme are charged to profit or loss in the period to which they relate.

3.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 29 February 2016

23,403

Additions

10,358

At 28 February 2017

33,761

DEPRECIATION

At 29 February 2016

18,324

Charge for year

3,088

At 28 February 2017

21,412

NET BOOK VALUE

At 28 February 2017

12,349

At 28 February 2016

5,079

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

34,574

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Bank loans and overdrafts

6,506

Hire purchase contracts

2,601

Trade creditors

21,753

Taxation and social security

22,974

Other creditors

33,791

87,625

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Hire purchase contracts

7,803