Global Abseiling Inspection Solutions - Accounts to registrar (filleted) - small 17.3

Global Abseiling Inspection Solutions - Accounts to registrar (filleted) - small 17.3


IRIS Accounts Productionv17.3.0.1062SC399145director1.6.1631.5.1731.5.17falsetruefalsefalsetruefalseOrdinary1.00000iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureSC3991452016-05-31SC3991452017-05-31SC3991452016-06-012017-05-31SC3991452015-05-31SC3991452015-06-012016-05-31SC3991452016-05-31SC399145ns15:Scotland2016-06-012017-05-31SC399145ns14:PoundSterling2016-06-012017-05-31SC399145ns10:Director12016-06-012017-05-31SC399145ns10:PrivateLimitedCompanyLtd2016-06-012017-05-31SC399145ns10:SmallEntities2016-06-012017-05-31SC399145ns10:AuditExempt-NoAccountantsReport2016-06-012017-05-31SC399145ns10:SmallCompaniesRegimeForAccounts2016-06-012017-05-31SC399145ns10:FullAccounts2016-06-012017-05-31SC399145ns10:OrdinaryShareClass12016-06-012017-05-31SC399145ns10:RegisteredOffice2016-06-012017-05-31SC399145ns5:CurrentFinancialInstruments2017-05-31SC399145ns5:CurrentFinancialInstruments2016-05-31SC399145ns5:ShareCapital2017-05-31SC399145ns5:ShareCapital2016-05-31SC399145ns5:RetainedEarningsAccumulatedLosses2017-05-31SC399145ns5:RetainedEarningsAccumulatedLosses2016-05-31SC399145ns5:LandBuildingsns5:OwnedOrFreeholdAssets2016-06-012017-05-31SC399145ns5:PlantMachinery2016-06-012017-05-31SC399145ns5:ComputerEquipment2016-06-012017-05-31SC399145ns5:LandBuildings2016-05-31SC399145ns5:PlantMachinery2016-05-31SC399145ns5:ComputerEquipment2016-05-31SC399145ns5:LandBuildings2016-06-012017-05-31SC399145ns5:LandBuildings2017-05-31SC399145ns5:PlantMachinery2017-05-31SC399145ns5:ComputerEquipment2017-05-31SC399145ns5:LandBuildings2016-05-31SC399145ns5:PlantMachinery2016-05-31SC399145ns5:ComputerEquipment2016-05-31SC399145ns5:CurrentFinancialInstrumentsns5:WithinOneYear2017-05-31SC399145ns5:CurrentFinancialInstrumentsns5:WithinOneYear2016-05-31SC399145ns10:OrdinaryShareClass12017-05-31SC399145ns5:RetainedEarningsAccumulatedLosses2016-05-31SC399145ns5:RetainedEarningsAccumulatedLosses2016-06-012017-05-31


REGISTERED NUMBER: SC399145(Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2017

FOR

GLOBAL ABSEILING & INSPECTION SOLUTIONS
LTD

GLOBAL ABSEILING & INSPECTION SOLUTIONS
LTD (REGISTERED NUMBER: SC399145)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2017




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


GLOBAL ABSEILING & INSPECTION SOLUTIONS
LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2017







DIRECTOR: D M Greaves





REGISTERED OFFICE: 58 Queens Road
Aberdeen
Grampian
AB15 4YE





REGISTERED NUMBER: SC399145(Scotland)





ACCOUNTANTS: Fyfe Moir & Associates
58 Queens Road
Aberdeen
Grampian
AB15 4YE

GLOBAL ABSEILING & INSPECTION SOLUTIONS
LTD (REGISTERED NUMBER: SC399145)

BALANCE SHEET
31 MAY 2017

31.5.17 31.5.16
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 118,928 209

CURRENT ASSETS
Debtors 5 7,436 8,687
Cash at bank 27,532 151,202
34,968 159,889
CREDITORS
Amounts falling due within one year 6 8,567 12,891
NET CURRENT ASSETS 26,401 146,998
TOTAL ASSETS LESS CURRENT
LIABILITIES

145,329

147,207

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 8 145,229 147,107
SHAREHOLDERS' FUNDS 145,329 147,207

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2017 in accordance with Section 476 of the Companies Act 2006.

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.

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 director on 1 November 2017and were signed by:





D M Greaves- Director


GLOBAL ABSEILING & INSPECTION SOLUTIONS
LTD (REGISTERED NUMBER: SC399145)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2017

1. STATUTORY INFORMATION

Global Abseiling & Inspection Solutions 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.
Freehold property - not provided
Plant and machinery - 15% on cost
Computer equipment - 15% on cost

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.

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. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1(2016 - 1) .

GLOBAL ABSEILING & INSPECTION SOLUTIONS
LTD (REGISTERED NUMBER: SC399145)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2017

4. TANGIBLE FIXED ASSETS
Freehold Plant and Computer
property machinery equipment Totals
£    £    £    £   
COST
At 1 June 2016 - 322 514 836
Additions 118,845 - - 118,845
At 31 May 2017 118,845 322 514 119,681
DEPRECIATION
At 1 June 2016 - 193 434 627
Charge for year - 49 77 126
At 31 May 2017 - 242 511 753
NET BOOK VALUE
At 31 May 2017 118,845 80 3 118,928
At 31 May 2016 - 129 80 209

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.17 31.5.16
£    £   
Trade debtors 7,436 8,490
VAT - 4
Prepayments and accrued income - 193
7,436 8,687

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.17 31.5.16
£    £   
Trade creditors 11 (1 )
Tax 6,610 7,161
VAT 1,373 -
Directors' current accounts 573 5,731
8,567 12,891

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.17 31.5.16
value: £    £   
100 Ordinary 1.00 100 100

GLOBAL ABSEILING & INSPECTION SOLUTIONS
LTD (REGISTERED NUMBER: SC399145)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2017

8. RESERVES
Retained
earnings
£   

At 1 June 2016 147,107
Profit for the year 26,122
Dividends (28,000 )
At 31 May 2017 145,229