Green Field Marquees Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: SC263930 (Scotland)

Unaudited Financial Statements

for the Year Ended 28 February 2017

for

Green Field Marquees Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M W Craig

M A L Campbell

M Anderson

SECRETARY:

M A L Campbell

REGISTERED OFFICE:

6 Logie Mill

Beaverbank Business Park

Edinburgh

Lothian

EH7 4HG

REGISTERED NUMBER:

SC263930 (Scotland)

ACCOUNTANTS:

A H & Co Ltd

Chartered Accountants

6 Logie Mill

Edinburgh

Lothian

EH7 4HG

FIXED ASSETS

Tangible assets

4

21,091

36,661

CURRENT ASSETS

Debtors

5

69,756

38,274

Cash at bank

31,669

78,113

101,425

116,387

CREDITORS

Amounts falling due within one year

6

111,828

139,504

NET CURRENT LIABILITIES

(10,403

)

(23,117

)

TOTAL ASSETS LESS CURRENT LIABILITIES

10,688

13,544

CREDITORS

Amounts falling due after more than one year

7

-

(372

)

PROVISIONS FOR LIABILITIES

8

(686

)

(3,172

)

NET ASSETS

10,002

10,000

CAPITAL AND RESERVES

Called up share capital

9

10,002

10,000

SHAREHOLDERS' FUNDS

10,002

10,000

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 21 November 2017 and were signed on its behalf by:

M A L Campbell - Director

M W Craig - Director

M Anderson - Director

1.	STATUTORY INFORMATION

Green Field Marquees 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 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. Turnover is reduced for

estimated customer returns, rebates and other similar allowances. Turnover is recognised when the company

gains the right to consideration.

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:

Plant and machinery

-

25% on cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

25% on cost

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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account,

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 March 2016

436,276

4,598

42,375

2,844

486,093

Additions

5,526

-

-

100

5,626

At 28 February 2017

441,802

4,598

42,375

2,944

491,719

DEPRECIATION

At 1 March 2016

408,876

4,598

33,359

2,599

449,432

Charge for year

13,378

-

7,568

250

21,196

At 28 February 2017

422,254

4,598

40,927

2,849

470,628

NET BOOK VALUE

At 28 February 2017

19,548

-

1,448

95

21,091

At 29 February 2016

27,400

-

9,016

245

36,661

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 March 2016

and 28 February 2017

18,801

DEPRECIATION

At 1 March 2016

and 28 February 2017

14,101

NET BOOK VALUE

At 28 February 2017

4,700

At 29 February 2016

4,700

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.17

29.2.16

£

£

Trade debtors

27,052

37,441

Other debtors

42,704

833

69,756

38,274

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.17

29.2.16

£

£

Hire purchase contracts

754

4,583

Trade creditors

2,925

6,321

Taxation and social security

29,321

46,378

Other creditors

78,828

82,222

111,828

139,504

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

28.2.17

29.2.16

£

£

Hire purchase contracts

-

372

8.	PROVISIONS FOR LIABILITIES

28.2.17

29.2.16

£

£

Deferred tax

686

3,172

Deferred

tax

£

Balance at 1 March 2016

3,172

Provided during year

(2,486

)

Balance at 28 February 2017

686

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

28.2.17

29.2.16

value:

£

£

10,002

Ordinary

£1

10,002

10,000

(29.2.16 - 10,000 )

2 Ordinary shares of £1 were issued during the year for cash of £ 2 .

10.

RESERVES

Retained

earnings

£

Profit for the year

20,587

Dividends

(20,587

)

At 28 February 2017

-

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Miles Craig, director, owed the company £17,329 at the 28th February 2017 (2016: £16,376 owed by the

company).

Murray Campbell, director, owed the company £12,787 at the 28th February 2017 (2016: £16,376 owed by the

company).

Murdo Anderson, director, owed the company £6,101 at the 28th February 2017 (2016: nil).

12.	RELATED PARTY DISCLOSURES

During the year, total dividends of £20,587 (2016 - £121,730) were paid to the directors .

Type of transaction

Movement in the year ended 28.02.2017

Movement in the year ended 29.02.2016

Balance receivable from/(payable to) related party as at 28.02.2017

Balance receivable from/(payable to) related party as at 29.02.2016

£

£

£

£

M A L. Campbell

Rent

11,833

10,000

nil

nil

M W Craig

Rent

208

208

nil

nil

M A L Campbell is a director and shareholder of the company.

M W Craig is a director and shareholder of the company.

13.	CONTROLLING INTEREST

There is no overall controlling interest.

14.	FIRST YEAR ADOPTION

Transitional relief

These are the first financial statements that comply with FRS 102 (Section 1A). The company transitioned to the

FRS 102 (Section 1A) on 1st March 2015.

No transitional adjustments were required in equity or profit or loss for the year.