REGISTERED NUMBER: |
TAEBLAIR PROPERTIES LTD |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2018 |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 10 | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Allotted, called up and fully |
paid share capital |
Profit and loss account - |
distributable |
SHAREHOLDERS' FUNDS |
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 |
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 behalf by: |
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 |
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 |
Equipment | - |
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 |
Additions |
At 31 July 2018 |
DEPRECIATION |
At 1 August 2017 |
Charge for year |
At 31 July 2018 |
NET BOOK VALUE |
At 31 July 2018 |
At 31 July 2017 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 August 2017 |
Additions |
At 31 July 2018 |
NET BOOK VALUE |
At 31 July 2018 |
At 31 July 2017 |
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 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Bank loans and overdrafts |
Taxation and social security |
Other creditors |
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 |
Other creditors |
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 |
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 |
The deferred tax balance consists of accelerated capital allowances. |