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Unaudited Financial Statements for the Year Ended 31 August 2018 |
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Cairn Incentives Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 August 2018 |
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for |
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Cairn Incentives Limited |
Cairn Incentives Limited (Registered number: SC269239) |
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Contents of the Financial Statements |
for the Year Ended 31 August 2018 |
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Company Information | 1 |
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Abridged Statement of Financial Position | 2 |
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Notes to the Financial Statements | 4 |
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Chartered Accountants' Report | 7 |
Cairn Incentives Limited |
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Company Information |
for the Year Ended 31 August 2018 |
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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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Chartered Accountants |
10 Newton Terrace |
Charing Cross |
Glasgow |
G3 7PJ |
Cairn Incentives Limited (Registered number: SC269239) |
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Abridged Statement of Financial Position |
31 August 2018 |
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31.8.18 | 31.8.17 |
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 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 6 |
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Retained earnings | 7 |
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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. |
Cairn Incentives Limited (Registered number: SC269239) |
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Abridged Statement of Financial Position - continued |
31 August 2018 |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
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The financial statements were approved by the Board of Directors on
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Cairn Incentives Limited (Registered number: SC269239) |
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Notes to the Financial Statements |
for the Year Ended 31 August 2018 |
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1. | STATUTORY INFORMATION |
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Cairn Incentives 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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Turnover |
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of |
Value Added Tax. |
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In respect of long-term contracts and contracts for on-going services,turnover represents the value of work done |
in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts |
of on-going services is recognised by reference to the stage of completion. |
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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 |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Computer equipment | - |
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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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Stocks are valued at the lower of cost and net realisable value, after making due allowance for absolute and slow |
moving items. |
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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 statement of financial position date. |
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Cairn Incentives Limited (Registered number: SC269239) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 August 2018 |
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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 |
statement of financial position 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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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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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2017 - 4 ). |
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4. | INTANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 September 2017 |
and 31 August 2018 |
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AMORTISATION |
At 1 September 2017 |
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Amortisation for year |
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At 31 August 2018 |
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NET BOOK VALUE |
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At 31 August 2018 |
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At 31 August 2017 |
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Cairn Incentives Limited (Registered number: SC269239) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 August 2018 |
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5. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 September 2017 |
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Additions |
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At 31 August 2018 |
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DEPRECIATION |
At 1 September 2017 |
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Charge for year |
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At 31 August 2018 |
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NET BOOK VALUE |
At 31 August 2018 |
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At 31 August 2017 |
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6. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.8.18 | 31.8.17 |
value: | £ | £ |
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Ordinary | £1 | 30 | 30 |
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Ordinary B | £1 | 100 | 100 |
130 | 130 |
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7. | RESERVES |
Retained |
earnings |
£ |
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At 1 September 2017 |
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Profit for the year |
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Dividends | ( |
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At 31 August 2018 |
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8. | ULTIMATE CONTROLLING PARTY |
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The company was under the control of Mrs M Macmillan and Mr G Macmillan throughout the current and |
previous year. |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Cairn Incentives Limited |
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The following reproduces the text of the report prepared for the directors in respect of the company's annual |
unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file |
a Statement of Financial Position. Readers are cautioned that the Abridged Statement of Comprehensive Income |
and certain other primary statements and the Report of the Directors are not required to be filed with the |
Registrar of Companies. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of Cairn Incentives Limited for the year ended 31 August 2018 which comprise the Abridged |
Statement of Comprehensive Income, Abridged Statement of Financial Position, Statement of Changes in Equity and the |
related notes from the company's accounting records and from information and explanations you have given us. |
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As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance. |
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This report is made solely to the Board of Directors of Cairn Incentives Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Cairn Incentives Limited and state those matters that we have agreed to state to the Board of Directors of Cairn Incentives Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
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It is your duty to ensure that Cairn Incentives Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Cairn Incentives Limited. You consider that Cairn Incentives Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of Cairn Incentives Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
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Chartered Accountants |
10 Newton Terrace |
Charing Cross |
Glasgow |
G3 7PJ |
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