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COMPANY REGISTRATION NUMBER: SC572738
Pentland Gas & Heating Services Limited
Unaudited Financial Statements
2 August 2018
Pentland Gas & Heating Services Limited
Financial Statements
Year ended 2 August 2018
Contents
Page
Director's report
1
Statement of income and retained earnings
2
Statement of financial position
3
Notes to the financial statements
4
Pentland Gas & Heating Services Limited
Director's Report
Year ended 2 August 2018
The director presents his report and the unaudited financial statements of the company for the year ended 2 August 2018 .
Director
The director who served the company during the year was as follows:
Mr G Clark
(Appointed 3 August 2017)
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 13 September 2018 and signed on behalf of the board by:
Mr G Clark
Director
Registered office:
60 Thomson Drive
Edinburgh
Scotland
EH14 5EU
Pentland Gas & Heating Services Limited
Statement of Income and Retained Earnings
Year ended 2 August 2018
2018
Note
£
Turnover
189,496
Cost of sales
105,857
---------
Gross profit
83,639
Distribution costs
38,834
Administrative expenses
11,444
--------
Operating profit
33,361
--------
Profit before taxation
33,361
Tax on profit
6,338
--------
Profit for the financial year and total comprehensive income
27,023
--------
Dividends paid and payable
( 25,000)
Retained earnings at the start of the year
--------
Retained earnings at the end of the year
2,023
--------
All the activities of the company are from continuing operations.
Pentland Gas & Heating Services Limited
Statement of Financial Position
2 August 2018
2018
Note
£
Current assets
Debtors
5
10,891
Creditors: amounts falling due within one year
6
8,668
--------
Net current assets
2,223
-------
Total assets less current liabilities
2,223
Creditors: amounts falling due after more than one year
7
100
-------
Net assets
2,123
-------
Capital and reserves
Called up share capital
100
Profit and loss account
2,023
-------
Members funds
2,123
-------
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 2 August 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 13 September 2018 , and are signed on behalf of the board by:
Mr G Clark
Director
Company registration number: SC572738
Pentland Gas & Heating Services Limited
Notes to the Financial Statements
Year ended 2 August 2018
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 60 Thomson Drive, Edinburgh, EH14 5EU, Scotland.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 .
5. Debtors
2018
£
Trade debtors
10,891
--------
6. Creditors: amounts falling due within one year
2018
£
Bank loans and overdrafts
735
Corporation tax
6,338
Social security and other taxes
1,595
-------
8,668
-------
7. Creditors: amounts falling due after more than one year
2018
£
Other creditors
100
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