C. Spratt Multiutility Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC330796 (Scotland)

Unaudited Financial Statements

for the Year Ended 30 November 2017

for

C. Spratt Multiutility Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

C L Spratt

SECRETARY:

J R Spratt

REGISTERED OFFICE:

No. 10 Darluith Park

Brookfield

Johnstone

Renfrewshire

PA5 8DD

BUSINESS ADDRESS:

440 Helen Street

Glasgow

G51 3HR

REGISTERED NUMBER:

SC330796 (Scotland)

ACCOUNTANTS:

Campbell Dallas Limited

Accountants

Titanium 1

King's Inch Place

Renfrew

PA4 8WF

FIXED ASSETS

Tangible assets

5

512,023

489,733

CURRENT ASSETS

Stocks

354,340

355,868

Debtors

6

1,518,631

998,667

Cash at bank

1,857,215

1,506,949

3,730,186

2,861,484

CREDITORS

Amounts falling due within one year

7

978,402

838,065

NET CURRENT ASSETS

2,751,784

2,023,419

TOTAL ASSETS LESS CURRENT LIABILITIES

3,263,807

2,513,152

CREDITORS

Amounts falling due after more than one year

8

(47,919

)

(60,588

)

PROVISIONS FOR LIABILITIES

(97,284

)

(90,520

)

NET ASSETS

3,118,604

2,362,044

CAPITAL AND RESERVES

Called up share capital

1,201

1,200

Retained earnings

3,117,403

2,360,844

SHAREHOLDERS' FUNDS

3,118,604

2,362,044

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 25 October 2018 and were signed by:

C L Spratt - Director

1.	STATUTORY INFORMATION

C. Spratt Multiutility 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.

The presentation currency of the financial statements is the Pound Sterling (£).

Monetary amounts in these financial statements are rounded to the nearest £.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

The company has transitioned to FRS 102 from previously extant UK GAAP as at 1 December 2016.

The reported financial position and financial performance for the previous period are not affected by

the transition to FRS 102.

Turnover

Turnover represents the value of all work done, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of 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

-

20% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

20% on cost

Computer equipment

-

20% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

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.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 .

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 December 2016

612,625

11,363

173,508

13,868

811,364

Additions

212,272

-

-

1,342

213,614

Disposals

(173,395

)

-

-

-

(173,395

)

Reclassification/transfer

(134,640

)

-

134,641

-

1

At 30 November 2017

516,862

11,363

308,149

15,210

851,584

DEPRECIATION

At 1 December 2016

277,873

3,014

36,357

4,387

321,631

Charge for year

65,015

2,273

61,630

2,531

131,449

Eliminated on disposal

(113,519

)

-

-

-

(113,519

)

Reclassification/transfer

(6,732

)

-

6,732

-

-

At 30 November 2017

222,637

5,287

104,719

6,918

339,561

NET BOOK VALUE

At 30 November 2017

294,225

6,076

203,430

8,292

512,023

At 30 November 2016

334,752

8,349

137,151

9,481

489,733

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

Motor

vehicles

£

COST

At 1 December 2016

and 30 November 2017

134,640

DEPRECIATION

At 1 December 2016

6,732

Charge for year

26,928

At 30 November 2017

33,660

NET BOOK VALUE

At 30 November 2017

100,980

At 30 November 2016

127,908

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

1,238,517

827,568

Other debtors

280,114

171,099

1,518,631

998,667

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Hire purchase contracts

75,322

48,470

Trade creditors

487,641

274,243

Taxation and social security

404,408

435,373

Other creditors

11,031

79,979

978,402

838,065

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Hire purchase contracts

47,919

60,588

9.	RELATED PARTY DISCLOSURES

2017

2016

£

£

Amounts owed to related parties

-

692

Amounts due from related parties

74,236

-

Dividends paid to related parties

-

49,000

10.	FIRST YEAR ADOPTION

For all periods up to and including the year ended 30 November 2016, the Company prepared its

financial statements in accordance with previously exant United Kingdom generally accepted

accounting practice (UK GAAP). These financial statements, for the year ended 30 November 2017,

are the first year the Company has prepared in accordance with FRS 102. The significant accounting

policies in meeting those requirements are described in relevant notes.

In preparing these financial statements, the Company started from an opening balance sheet as the

Company's date of transition to FRS 102, and made those changes in accounting policies and other

restatements required for the first time adoption of FRS 102. There has been no material impact to the

Company's financial position, results or cashflows as a result of restating its financial statements.