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Unaudited Financial Statements for the Year Ended 30 September 2019 |
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Grahamston Glazing Company Limited |
REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 30 September 2019 |
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for |
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Grahamston Glazing Company Limited |
Grahamston Glazing Company Limited (Registered number: SC178991) |
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Contents of the Financial Statements |
for the Year Ended 30 September 2019 |
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Page |
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Balance Sheet | 1 |
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Notes to the Financial Statements | 3 |
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Grahamston Glazing Company Limited (Registered number: SC178991) |
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Balance Sheet |
30 September 2019 |
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30.9.19 | 30.9.18 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash in hand |
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CREDITORS |
Amounts falling due within one year | 7 | ( |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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( |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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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. |
Grahamston Glazing Company Limited (Registered number: SC178991) |
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Balance Sheet - continued |
30 September 2019 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
signed on its behalf by: |
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Grahamston Glazing Company Limited (Registered number: SC178991) |
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Notes to the Financial Statements |
for the Year Ended 30 September 2019 |
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1. | STATUTORY INFORMATION |
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Grahamston Glazing Company Limited is a private company, limited by shares, domiciled in Scotland, registration |
number SC178991. The registered office is Unit 5 Gateway Business Park, Beancross Road, Grangemouth, |
Stirlingshire, FK3 8WX. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents net invoiced sales of goods and services in respect of glazing, excluding value added tax. Sales |
are recognised at the point at which the goods are delivered or the service is complete. |
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Goodwill |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less |
any accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets and depreciation |
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Plant and machinery etc | - |
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Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental |
costs of acquisition. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. Cost is represented by purchase price. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Grahamston Glazing Company Limited (Registered number: SC178991) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 September 2019 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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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. |
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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. |
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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. |
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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. |
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Provisions |
Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is |
probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably |
estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value |
of money is material. |
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Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is |
determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an |
outflow with respect to any one item included in the same class of obligations may be small. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 October 2018 |
and 30 September 2019 |
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AMORTISATION |
At 1 October 2018 |
and 30 September 2019 |
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NET BOOK VALUE |
At 30 September 2019 |
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At 30 September 2018 |
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Grahamston Glazing Company Limited (Registered number: SC178991) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 September 2019 |
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5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 October 2018 |
and 30 September 2019 |
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DEPRECIATION |
At 1 October 2018 |
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Charge for year |
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At 30 September 2019 |
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NET BOOK VALUE |
At 30 September 2019 |
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At 30 September 2018 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.19 | 30.9.18 |
£ | £ |
Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.19 | 30.9.18 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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8. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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30.9.19 | 30.9.18 |
£ | £ |
Bank overdrafts |
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The Royal Bank of Scotland PLC hold a bond and floating charge over the property and assets. |