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Unaudited Financial Statements |
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for the Year Ended 31 March 2019 |
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for |
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Crimond Track Shop Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31 March 2019 |
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for |
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Crimond Track Shop Limited |
Crimond Track Shop Limited (Registered number: SC245258) |
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Contents of the Financial Statements |
for the Year Ended 31 March 2019 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Crimond Track Shop Limited |
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Company Information |
for the Year Ended 31 March 2019 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Accountants |
2 Cross Street |
Fraserburgh |
Aberdeenshire |
AB43 9EQ |
Crimond Track Shop Limited (Registered number: SC245258) |
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Balance Sheet |
31 March 2019 |
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31.3.19 | 31.3.18 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the Board of Directors on
by: |
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Crimond Track Shop Limited (Registered number: SC245258) |
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Notes to the Financial Statements |
for the Year Ended 31 March 2019 |
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1. | STATUTORY INFORMATION |
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Crimond Track Shop Limited is a
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registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The financial statements have been prepared in UK £ sterling. |
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Turnover |
Turnover represents amounts receivable for goods provided in the normal course of business. Revenue is |
recognised to the extent that it is probable that economic benefit will flow to the company and when its value can |
be measured with a sufficient degree of certainty and reliability. All income is recognised in the accounting |
period to which it relates. The company is not registered for VAT. |
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Tangible fixed assets |
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Plant and machinery | - |
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Transponders | - |
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Tangible fixed assets are included at cost less depreciation and impairment. The residual value is reassessed at |
the end of each accounting period. |
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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. |
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Taxation |
Taxation for the year comprises current tax. Tax is recognised in the Statement of Income and Retained |
Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in |
equity. |
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Current 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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Following due consideration, the directors are of the view that there is no material potential future liability to |
taxation as a result of accelerated capital allowances and on this basis no provision for deferred tax has been |
made. |
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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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Debtors and creditors receivable /payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at |
transaction price. Any losses arising from impairment are recognised in the profit and loss account in other |
administrative costs. |
Crimond Track Shop Limited (Registered number: SC245258) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2019 |
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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. | TANGIBLE FIXED ASSETS |
Plant and |
machinery | Transponders | Totals |
£ | £ | £ |
COST |
At 1 April 2018 |
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Additions |
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Disposals |
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At 31 March 2019 |
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DEPRECIATION |
At 1 April 2018 |
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Charge for year |
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Eliminated on disposal |
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At 31 March 2019 |
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NET BOOK VALUE |
At 31 March 2019 |
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At 31 March 2018 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.19 | 31.3.18 |
£ | £ |
Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.19 | 31.3.18 |
£ | £ |
Taxation and social security |
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Other creditors |
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7. | RELATED PARTY DISCLOSURES |
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The director's remuneration of £500 represents payments made to Mr R.W. MacDonald for services provided in |
respect of the management and running of the shop. |
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8. | ULTIMATE CONTROLLING PARTY |
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The company is controlled by the director Mr R.W. MacDonald and Mr J.A. Riddell. |