Caithness Horizons Trading Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC333203 (Scotland)

Financial Statements for the Year Ended 31 March 2018

for

Caithness Horizons Trading Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Miss T Wrighton

Ms H M Lamont

W J Mackay

P R G Arthur

R Saxon

C W Brown

D J Y Martin

K Rosie

SECRETARY:

Mrs T A Dodson

REGISTERED OFFICE:

The Old Town Hall

High Street

Thurso

Caithness

KW14 8AJ

REGISTERED NUMBER:

SC333203 (Scotland)

ACCOUNTANTS:

Reid & Fraser

Chartered Accountants

15 Princes Street

Thurso

Caithness

KW14 7BQ

FIXED ASSETS

Tangible assets

3

1,908

2,545

CURRENT ASSETS

Stocks

3,440

3,195

Debtors

4

8,695

4,166

Cash at bank and in hand

26,975

16,923

39,110

24,284

CREDITORS

Amounts falling due within one year

5

(40,849

)

(22,679

)

NET CURRENT (LIABILITIES)/ASSETS

(1,739

)

1,605

TOTAL ASSETS LESS CURRENT LIABILITIES

169

4,150

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

168

4,149

SHAREHOLDERS' FUNDS

169

4,150

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 20 December 2018 and were signed on its behalf by:

C W Brown - Director

1.	STATUTORY INFORMATION

Caithness Horizons Trading 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 represents the total of all café and shop sales, net of value added tax, together with value of rents

receivable from room hire in the year.

TANGIBLE FIXED ASSETS

All assets are initially recorded at cost. Depreciation is provided at the following annual rates in order to write

off each asset over its estimated useful life:

Fixtures and fittings 25% reducing balance

STOCKS

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

3.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 April 2017

and 31 March 2018

19,723

DEPRECIATION

At 1 April 2017

17,178

Charge for year

637

At 31 March 2018

17,815

NET BOOK VALUE

At 31 March 2018

1,908

At 31 March 2017

2,545

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

3,781

3,827

Other debtors

4,914

339

8,695

4,166

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

5,513

3,801

Amounts owed to group undertakings

34,073

17,615

Other creditors

1,263

1,263

40,849

22,679

6.	ULTIMATE CONTROLLING PARTY

The controlling party is Caithness Horizons.