Alasdair Cameron Limited - Accounts to registrar (filleted) - small 17.3

ALASDAIR CAMERON LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A F E Cameron

Mrs V Cameron

SECRETARY:

REGISTERED OFFICE:

Unit 1

69 St Marks Road

London

W10 6JG

REGISTERED NUMBER:

04797283 (England and Wales)

ACCOUNTANTS:

Barretts

Chartered Accountants &

Chartered Tax Advisers

22 Union Street

Newton Abbot

Devon

TQ12 2JS

FIXED ASSETS

Intangible assets

4

54,000

2,400

Tangible assets

5

67,961

35,728

121,961

38,128

CURRENT ASSETS

Stocks

6

105,327

22,500

Debtors

7

375,977

261,236

Cash in hand

6,823

4,203

488,127

287,939

CREDITORS

Amounts falling due within one year

8

491,937

269,557

NET CURRENT (LIABILITIES)/ASSETS

(3,810

)

18,382

TOTAL ASSETS LESS CURRENT LIABILITIES

118,151

56,510

CREDITORS

Amounts falling due after more than one year

9

(29,230

)

(12,465

)

PROVISIONS FOR LIABILITIES

(10,278

)

(4,098

)

NET ASSETS

78,643

39,947

CAPITAL AND RESERVES

Called up share capital

10

33,100

33,100

Retained earnings

45,543

6,847

SHAREHOLDERS' FUNDS

78,643

39,947

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 4 December 2017 and were signed on its behalf by:

A F E Cameron - Director

1.	STATUTORY INFORMATION

Alasdair Cameron Limited is a private company, limited by shares , registered in England and Wales. 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

33% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

33% on reducing balance

Computer equipment

-

33% on cost

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

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.

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.	EMPLOYEES INCLUDING EMPLOYED DIRECTORS

The average number of employees during the year was 16 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 July 2016

5,000

Additions

60,000

At 30 June 2017

65,000

AMORTISATION

At 1 July 2016

2,600

Amortisation for year

8,400

At 30 June 2017

11,000

NET BOOK VALUE

At 30 June 2017

54,000

At 30 June 2016

2,400

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 July 2016

26,391

20,585

19,800

22,564

89,340

Additions

11,438

12,956

29,590

7,869

61,853

At 30 June 2017

37,829

33,541

49,390

30,433

151,193

DEPRECIATION

At 1 July 2016

20,184

12,866

8,524

12,038

53,612

Charge for year

5,881

5,169

10,216

8,354

29,620

At 30 June 2017

26,065

18,035

18,740

20,392

83,232

NET BOOK VALUE

At 30 June 2017

11,764

15,506

30,650

10,041

67,961

At 30 June 2016

6,207

7,719

11,276

10,526

35,728

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

Motor

vehicles

£

COST

At 1 July 2016

22,000

Additions

25,590

At 30 June 2017

47,590

DEPRECIATION

At 1 July 2016

7,875

Charge for year

9,928

At 30 June 2017

17,803

NET BOOK VALUE

At 30 June 2017

29,787

At 30 June 2016

14,125

6.

STOCKS

2017

2016

£

£

Stocks

18,500

22,500

Work-in-progress

86,827

-

105,327

22,500

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

327,595

175,462

Other debtors

48,382

55,107

Directors' current accounts

-

21,852

Prepayments

-

8,815

375,977

261,236

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

138

22,791

Hire purchase contracts

6,551

2,460

Trade creditors

269,568

183,648

Tax

29,253

5,014

VAT

76,901

39,217

Accruals and deferred income

89,000

-

Accrued expenses

20,526

16,427

491,937

269,557

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Hire purchase contracts

29,230

12,465

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

100

Ordinary

£1

100

100

33,000

Ordinary B

£1

33,000

33,000

33,100

33,100

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2017 and

30 June 2016:

2017

2016

£

£

A F E Cameron

Balance outstanding at start of year

(21,852

)

(9,130

)

Amounts advanced

125,904

-

Amounts repaid

(104,052

)

(12,722

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

(21,852

)

12.	RELATED PARTY DISCLOSURES

During the accounting period company acquired the goodwill and assets of Alasdair Cameron Design, a

partnership in which the directors were partners, for the cost of £60,238.

Alasdair Cameron still owed £33,000 for the purchase of B shares in the company.