Forth Brickwork (Scotland) Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: SC401661 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 March 2017

for

Forth Brickwork (Scotland) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J S McDaid

P H McDaid

REGISTERED OFFICE:

6 Logie Mill

Edinburgh

Lothian

EH7 4HG

REGISTERED NUMBER:

SC401661 (Scotland)

ACCOUNTANTS:

A H & Co Ltd

Chartered Accountants

6 Logie Mill

Edinburgh

Lothian

EH7 4HG

FIXED ASSETS

Tangible assets

4

1,512

2,189

CURRENT ASSETS

Debtors

5

239,909

190,847

Cash at bank

429,777

379,966

669,686

570,813

CREDITORS

Amounts falling due within one year

6

(165,714

)

(151,112

)

NET CURRENT ASSETS

503,972

419,701

TOTAL ASSETS LESS CURRENT LIABILITIES

505,484

421,890

PROVISIONS FOR LIABILITIES

8

(257

)

(438

)

NET ASSETS

505,227

421,452

CAPITAL AND RESERVES

Called up share capital

9

1

1

Retained earnings

10

505,226

421,451

SHAREHOLDERS' FUNDS

505,227

421,452

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 Statement of Income and has not been delivered.

The financial statements were approved by the Board of Directors on 14 December 2017 and were signed on its behalf by:

P H McDaid - Director

J S McDaid - Director

1.	STATUTORY INFORMATION

Forth Brickwork (Scotland) 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 stated net of VAT and trade discounts and is recognised when the significant risks and rewards are

considered to have been transferred to the buyer. Turnover from the supply of services represents the value of

services provided under contracts to the extent that there is a right to consideration and is recorded at the fair

value of the consideration received or receivable. Where a contract has only been partially completed at the

balance sheet date turnover represents the fair value of the service provided to date based on the stage of

completion of the contract activity at the balance sheet date. Where payments are received from customers in

advance of services provided, the amounts are recorded as deferred income and included as part of creditors due

within one year.

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 - 33% per annum

Fixtures and fittings - 25% per annum

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.

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.

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.

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.

Provisions

Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past

event, it is probable that the company will be required to settle that obligation and a reliable estimate can be

made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present

obligation at the balance sheet date, taking into account the risks and uncertainties surrounding the obligation.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2016 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 April 2016

4,127

-

4,127

Additions

226

400

626

At 31 March 2017

4,353

400

4,753

DEPRECIATION

At 1 April 2016

1,938

-

1,938

Charge for year

1,203

100

1,303

At 31 March 2017

3,141

100

3,241

NET BOOK VALUE

At 31 March 2017

1,212

300

1,512

At 31 March 2016

2,189

-

2,189

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Trade debtors

32,558

32,694

Other debtors

207,351

158,153

239,909

190,847

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Trade creditors

979

4,987

Taxation and social security

88,812

86,459

Other creditors

75,923

59,666

165,714

151,112

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.3.17

31.3.16

£

£

Within one year

8,950

4,092

Between one and five years

13,955

-

22,905

4,092

8.	PROVISIONS FOR LIABILITIES

31.3.17

31.3.16

£

£

Deferred tax

257

438

Deferred

tax

£

Balance at 1 April 2016

438

Provided during year

(181

)

Balance at 31 March 2017

257

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.17

31.3.16

value:

£

£

1

Ordinary

£1

1

1

10.

RESERVES

Retained

earnings

£

At 1 April 2016

421,451

Profit for the year

220,150

Dividends

(136,375

)

At 31 March 2017

505,226

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2017 and

31 March 2016:

31.3.17

31.3.16

£

£

P H McDaid

Balance outstanding at start of year

62,721

56,142

Amounts advanced

13,305

6,683

Amounts repaid

(293

)

(104

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

75,733

62,721

J S McDaid

Balance outstanding at start of year

62,721

56,143

Amounts advanced

13,305

6,682

Amounts repaid

(293

)

(104

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

75,733

62,721

12.	RELATED PARTY DISCLOSURES

During the year, total dividends of £136,375 (2016 - £148,014) were paid to the directors .

During the year ended 31 March 2016, the company loaned an amount of £1,000 to Forth Masonry LLP. The

balance outstanding as at 31 March 2017 was £nil (2016: £1,000).

P H McDaid and J S McDaid, directors, are designated members of Forth Masonry LLP.

13.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is not known.

14.	FIRST YEAR ADOPTION

Transitional relief

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

FRS 102 (Section 1A) on 1 April 2015.

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