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Shield Instrumentation Ltd SC580891 false 2017-12-04 2018-11-30 2018-11-30 The principal activity of the company is has been providing instrumentation engineering and functional safety, design and verification services Digita Accounts Production Advanced 6.24.8820.0 Software true SC580891 2017-12-04 2018-11-30 SC580891 2018-11-30 SC580891 bus:OrdinaryShareClass1 2018-11-30 SC580891 core:RetainedEarningsAccumulatedLosses 2018-11-30 SC580891 core:ShareCapital 2018-11-30 SC580891 core:CurrentFinancialInstruments 2018-11-30 SC580891 core:CurrentFinancialInstruments core:WithinOneYear 2018-11-30 SC580891 core:FurnitureFittingsToolsEquipment 2018-11-30 SC580891 bus:SmallEntities 2017-12-04 2018-11-30 SC580891 bus:AuditExemptWithAccountantsReport 2017-12-04 2018-11-30 SC580891 bus:FullAccounts 2017-12-04 2018-11-30 SC580891 bus:SmallCompaniesRegimeForAccounts 2017-12-04 2018-11-30 SC580891 bus:RegisteredOffice 2017-12-04 2018-11-30 SC580891 bus:Director1 2017-12-04 2018-11-30 SC580891 bus:OrdinaryShareClass1 2017-12-04 2018-11-30 SC580891 bus:PrivateLimitedCompanyLtd 2017-12-04 2018-11-30 SC580891 bus:Agent1 2017-12-04 2018-11-30 SC580891 core:FurnitureFittingsToolsEquipment 2017-12-04 2018-11-30 SC580891 countries:Scotland 2017-12-04 2018-11-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: SC580891

Shield Instrumentation Ltd

Annual Report and Unaudited Financial Statements

for the Period from 4 December 2017 to 30 November 2018

Roderick Gunkel & Associates Ltd
Chartered Certified Accountants
Orchardlea
Callander
FK17 8BG

 

Shield Instrumentation Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

4 to 7

 

Shield Instrumentation Ltd

Company Information

Directors

David Stewart

Registered office

32 Howieson Avenue
Bo'ness
EH51 9JG

Bankers

Clydesdale
Timor House
Mariner Court
Clydesdale Business Park
Clydebank
G81 2NR

Accountants

Roderick Gunkel & Associates Ltd
Chartered Certified Accountants
Orchardlea
Callander
FK17 8BG

 

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Shield Instrumentation Ltd
for the Period Ended 30 November 2018

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Shield Instrumentation Ltd for the period ended 30 November 2018 as set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.
 

As a member of the Association of Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com.
 

This report is made solely to the Board of Directors of Shield Instrumentation Ltd , as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Shield Instrumentation Ltd and state those matters that we have agreed to state to the Board of Directors of Shield Instrumentation Ltd, as a body, in this report.

This is in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.doc. And, to the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Shield Instrumentation Ltd and its Board of Directors as a body for our work or for this report.
 

It is your duty to ensure that Shield Instrumentation Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Shield Instrumentation Ltd. You consider that Shield Instrumentation Ltd is exempt from the statutory audit requirement for the period.
 

We have not been instructed to carry out an audit or a review of the accounts of Shield Instrumentation Ltd. 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 accounts.

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Roderick Gunkel & Associates Ltd
Chartered Certified Accountants
Orchardlea
Callander
FK17 8BG


 

21 February 2019

 

Shield Instrumentation Ltd

(Registration number: SC580891)
Balance Sheet as at 30 November 2018

Note

2018
£

Fixed assets

 

Tangible assets

4

1,600

Current assets

 

Debtors

5

1,745

Cash at bank and in hand

 

13,058

 

14,803

Creditors: Amounts falling due within one year

6

(14,067)

Net current assets

 

736

Net assets

 

2,336

Capital and reserves

 

Called up share capital

7

100

Profit and loss account

2,236

Total equity

 

2,336

For the financial period ending 30 November 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 accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 21 February 2019
 

.........................................

David Stewart
Director

 

Shield Instrumentation Ltd

Notes to the Financial Statements for the Period from 4 December 2017 to 30 November 2018

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
32 Howieson Avenue
Bo'ness
EH51 9JG

These financial statements were authorised for issue by the director on 21 February 2019.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Shield Instrumentation Ltd

Notes to the Financial Statements for the Period from 4 December 2017 to 30 November 2018

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures, fittings, equipment

20-50% p.a reducing balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Shield Instrumentation Ltd

Notes to the Financial Statements for the Period from 4 December 2017 to 30 November 2018

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 2.

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

2,342

2,342

At 30 November 2018

2,342

2,342

Depreciation

Charge for the period

742

742

At 30 November 2018

742

742

Carrying amount

At 30 November 2018

1,600

1,600

5

Debtors

2018
£

Trade debtors

1,745

1,745

6

Creditors

Creditors: amounts falling due within one year

Note

2018
£

Due within one year

 

Loans and overdrafts

8

328

Taxation and social security

 

3,592

Other creditors

 

10,147

 

14,067

7

Share capital

Allotted, called up and fully paid shares

 

Shield Instrumentation Ltd

Notes to the Financial Statements for the Period from 4 December 2017 to 30 November 2018

 

2018

 

No.

£

Ordinary shares of £1 each

100

100

     

8

Loans and borrowings

2018
£

Current loans and borrowings

Director current account

328