REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 November 2021 |
for |
37 Montgomery Street Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 November 2021 |
for |
37 Montgomery Street Limited |
37 Montgomery Street Limited (Registered number: SC580654) |
Contents of the Financial Statements |
for the Year Ended 30 November 2021 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
37 Montgomery Street Limited |
Company Information |
for the Year Ended 30 November 2021 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
42 Stirling Street |
Denny |
Stirlingshire |
FK6 6DJ |
BANKERS: |
10 Gordon Street |
Glasgow |
G1 3PL |
37 Montgomery Street Limited (Registered number: SC580654) |
Balance Sheet |
30 November 2021 |
30.11.21 | 30.11.20 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
37 Montgomery Street Limited (Registered number: SC580654) |
Notes to the Financial Statements |
for the Year Ended 30 November 2021 |
1. | STATUTORY INFORMATION |
37 Montgomery Street Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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. |
Investment property |
During 2017-2018 the company purchased an investment property. In accordance with FRS 102 the value of the building has been attributed to investment purposes, shown separately as investment property. No depreciation has been provided in respect of investment property. This represents a departure from the Companies Act requirements to provide for systematic annual depreciation of fixed assets. The directors consider that the adoption of this policy is necessary in order to give a true and fair view. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2020 - NIL). |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 December 2020 |
and 30 November 2021 |
NET BOOK VALUE |
At 30 November 2021 |
At 30 November 2020 |
37 Montgomery Street Limited (Registered number: SC580654) |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2021 |
4. | INVESTMENT PROPERTY - continued |
The Directors believe this remains a reasonable valuation of the property and have not obtained a more recent valuation. |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.11.21 | 30.11.20 |
£ | £ |
Taxation and social security |
Other creditors |
6. | RELATED PARTY DISCLOSURES |
The directors introduced the investment property at a fair value during the year ended 30 November 2018. |