ASW Aberdeen Ltd
Registered number: SC263251
Balance Sheet
as at 28 February 2018
Notes 2018 2017
£ £
Fixed assets
Tangible assets 2 490,027 555,052
Current assets
Stocks 19,929 12,500
Debtors 3 72,557 37,387
Cash at bank and in hand 22,586 58,819
115,072 108,706
Creditors: amounts falling due within one year 4 (66,236) (43,129)
Net current assets 48,836 65,577
Total assets less current liabilities 538,863 620,629
Creditors: amounts falling due after more than one year 5 (118,436) (205,210)
Net assets 420,427 415,419
Capital and reserves
Called up share capital 100 100
Profit and loss account 420,327 415,319
Shareholders' funds 420,427 415,419
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs June Fowlie
Director
Approved by the board on 31 October 2018
ASW Aberdeen Ltd
Notes to the Accounts
for the year ended 28 February 2018
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in unquoted equity instruments are measured at fair value. Changes in fair value are recognised in profit or loss. Fair value is estimated by using a valuation technique.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 March 2017 881,850
Additions 78,989
Disposals (43,250)
At 28 February 2018 917,589
Depreciation
At 1 March 2017 326,798
Charge for the year 113,914
On disposals (13,150)
At 28 February 2018 427,562
Net book value
At 28 February 2018 490,027
At 28 February 2017 555,052
3 Debtors 2018 2017
£ £
Trade debtors 72,557 37,387
4 Creditors: amounts falling due within one year 2018 2017
£ £
Bank loans and overdrafts 22,664 8,465
Trade creditors 976 3,446
Corporation tax 9,822 -
Other taxes and social security costs 4,747 3,853
Other creditors 28,027 27,365
66,236 43,129
5 Creditors: amounts falling due after one year 2018 2017
£ £
Obligations under finance lease and hire purchase contracts 116,257 201,334
Other creditors 2,179 3,876
118,436 205,210
6 Other information
ASW Aberdeen Ltd is a private company limited by shares and incorporated in Scotland. Its registered office is:
Epasco
Neilsbrae
Fintray
Aberdeenshire
AB21 0YS
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