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REGISTERED NUMBER: SC499251 (Scotland)















TAEBLAIR PROPERTIES LTD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2018






TAEBLAIR PROPERTIES LTD (REGISTERED NUMBER: SC499251)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 July 2018










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


TAEBLAIR PROPERTIES LTD

COMPANY INFORMATION
for the year ended 31 July 2018







DIRECTORS: S R McLennan
Ms A E Harrison





REGISTERED OFFICE: Taeblair Smithy
Allangrange
Munlochy
Ross-shire
IV8 8NZ





REGISTERED NUMBER: SC499251 (Scotland)





ACCOUNTANTS: MacKenzie Kerr Limited
Chartered Accountants
Redwood
19 Culduthel Road
Inverness
IV2 4AA

TAEBLAIR PROPERTIES LTD (REGISTERED NUMBER: SC499251)

BALANCE SHEET
31 July 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 974 82
Investment property 5 401,913 400,761
402,887 400,843

CURRENT ASSETS
Debtors 6 250,000 18,980
Cash at bank 2,566 9,460
252,566 28,440
CREDITORS
Amounts falling due within one year 7 294,508 315,427
NET CURRENT LIABILITIES (41,942 ) (286,987 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

360,945

113,856

CREDITORS
Amounts falling due after more than one
year

8

(346,107

)

(106,934

)

PROVISIONS FOR LIABILITIES 10 (185 ) -
NET ASSETS 14,653 6,922

CAPITAL AND RESERVES
Allotted, called up and fully
paid share capital 100 100
Profit and loss account -
distributable 14,553 6,822
SHAREHOLDERS' FUNDS 14,653 6,922

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2018 in accordance with Section 476 of the Companies Act 2006.

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.

TAEBLAIR PROPERTIES LTD (REGISTERED NUMBER: SC499251)

BALANCE SHEET - continued
31 July 2018


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 23 October 2018 and were signed on its
behalf by:





S R McLennan - Director


TAEBLAIR PROPERTIES LTD (REGISTERED NUMBER: SC499251)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 July 2018


1. STATUTORY INFORMATION

Taeblair Properties Ltd is a private company, limited by shares , registered in Scotland. The company's
registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small
Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and
Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the
historical cost convention as modified by the revaluation of certain fixed assets

The financial statements are prepared in sterling, which is the functional currency of the entity.

The company has net current liabilities amounting to £291,942. However, the directors have agreed to
continue to support the company and make funds available to enable it to meet its liabilities as they fall due
and therefore consider it appropriate to prepare the accounts on the going concern basis.

Turnover
Turnover represents invoiced rental income for the year excluding VAT. Rental income is recognised in line
with the terms of the lease agreement.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment - 20% on cost

Fixed assets are stated at cost, being purchase price, less accumulated depreciation.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from
changes in fair value is recognised in profit or loss.

No depreciation is provided for on freehold investment property in accordance with Section 1A "Small
Entities" of Financial Reporting Standard 102.

Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for
the current or past reporting periods. It is measured at the amount expected to be paid or recovered using
the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial
statements of current and previous periods. It is recognised in respect of all timing differences, with certain
exceptions. Timing differences are differences between taxable profits and total comprehensive income as
stated in the financial statements that arise from the inclusion of income and expense in tax assessments in
periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by
the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on
revalued, non-depreciable tangible fixed assets and investment properties is measured using the rates and
allowances that apply to the sale of the asset.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2017 - NIL).

TAEBLAIR PROPERTIES LTD (REGISTERED NUMBER: SC499251)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 July 2018


4. TANGIBLE FIXED ASSETS
Equipment
£   
COST
At 1 August 2017 138
Additions 1,150
At 31 July 2018 1,288
DEPRECIATION
At 1 August 2017 56
Charge for year 258
At 31 July 2018 314
NET BOOK VALUE
At 31 July 2018 974
At 31 July 2017 82

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2017 400,761
Additions 1,152
At 31 July 2018 401,913
NET BOOK VALUE
At 31 July 2018 401,913
At 31 July 2017 400,761

Investment properties are accounted for in accordance with Section 1A "Small Entities" of Financial
Reporting Standard 102. No depreciation is provided in respect of the properties.

Investment properties have been shown at cost and the directors consider this to be an accurate valuation
at 31 July 2018.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Other debtors 250,000 18,980

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Bank loans and overdrafts 11,902 11,902
Taxation and social security 4,051 1,554
Other creditors 278,555 301,971
294,508 315,427

TAEBLAIR PROPERTIES LTD (REGISTERED NUMBER: SC499251)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 July 2018


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2018 2017
£    £   
Bank loans 96,107 106,934
Other creditors 250,000 -
346,107 106,934

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 48,500 56,299

9. SECURED DEBTS

The following secured debts are included within creditors:

2018 2017
£    £   
Bank loans 108,009 118,836

10. PROVISIONS FOR LIABILITIES
2018 2017
£    £   
Deferred tax 185 -

Deferred
tax
£   
Charge to profit and loss
account during year 185
Balance at 31 July 2018 185

The deferred tax balance consists of accelerated capital allowances.