REGISTERED NUMBER: |
Report of the Director and |
Financial Statements for the Year Ended 31 January 2022 |
for |
Inneswick Limited |
REGISTERED NUMBER: |
Report of the Director and |
Financial Statements for the Year Ended 31 January 2022 |
for |
Inneswick Limited |
Inneswick Limited (Registered number: SC138565) |
Contents of the Financial Statements |
for the Year Ended 31 January 2022 |
Page |
Company Information | 1 |
Report of the Director | 2 |
Income Statement | 3 |
Balance Sheet | 4 |
Notes to the Financial Statements | 6 |
Inneswick Limited |
Company Information |
for the Year Ended 31 January 2022 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
15 Princes Street |
Thurso |
Caithness |
KW14 7BQ |
BANKERS: |
Bridge Street |
Wick |
Caithness |
KW1 4NG |
Inneswick Limited (Registered number: SC138565) |
Report of the Director |
for the Year Ended 31 January 2022 |
The director presents her report with the financial statements of the company for the year ended 31 January 2022. |
DIRECTOR |
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
ON BEHALF OF THE BOARD: |
Inneswick Limited (Registered number: SC138565) |
Income Statement |
for the Year Ended 31 January 2022 |
2022 | 2021 |
Notes | £ | £ |
TURNOVER |
Administrative expenses | ( |
) | ( |
) |
(41,573 | ) | 1,538 |
Other operating income |
OPERATING (LOSS)/PROFIT | 4 | ( |
) |
Income from participating interests | ( |
) | ( |
) |
LOSS BEFORE TAXATION | ( |
) | ( |
) |
Tax on loss |
LOSS FOR THE FINANCIAL YEAR | ( |
) | ( |
) |
Inneswick Limited (Registered number: SC138565) |
Balance Sheet |
31 January 2022 |
2022 | 2021 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
Investment property | 6 |
CURRENT ASSETS |
Debtors | 7 |
Investments | 8 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 9 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve | 10 |
Retained earnings | 10 |
SHAREHOLDERS' FUNDS |
The director acknowledges her 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. |
Inneswick Limited (Registered number: SC138565) |
Balance Sheet - continued |
31 January 2022 |
The financial statements were approved by the director and authorised for issue on |
Inneswick Limited (Registered number: SC138565) |
Notes to the Financial Statements |
for the Year Ended 31 January 2022 |
1. | STATUTORY INFORMATION |
Inneswick Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Fixed assets and depreciation |
All assets are recorded initially at cost. Depreciation is provided at the following annual rate in order to write off each asset over its estimated useful life. |
Plant and machinery - 15% reducing balance |
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. |
Rental income from investment property is recognised in the profit & loss account on a receivable basis over the term of the lease. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | OPERATING (LOSS)/PROFIT |
The operating loss (2021 - operating profit) is stated after charging: |
2022 | 2021 |
£ | £ |
Depreciation - owned assets |
Inneswick Limited (Registered number: SC138565) |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2022 |
5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
£ |
COST |
At 1 February 2021 |
Disposals | ( |
) |
At 31 January 2022 |
DEPRECIATION |
At 1 February 2021 |
Eliminated on disposal | ( |
) |
At 31 January 2022 |
NET BOOK VALUE |
At 31 January 2022 |
At 31 January 2021 |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 February 2021 |
Disposals | ( |
) |
At 31 January 2022 |
NET BOOK VALUE |
At 31 January 2022 |
At 31 January 2021 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Other debtors |
8. | CURRENT ASSET INVESTMENTS |
2022 | 2021 |
£ | £ |
Associated undertaking | 869,682 | 877,451 |
Inneswick Limited (Registered number: SC138565) |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2022 |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade creditors |
Other creditors |
10. | RESERVES |
Fair |
Retained | value |
earnings | reserve | Totals |
£ | £ | £ |
At 1 February 2021 | 1,112,694 |
Deficit for the year | ( |
) | ( |
) |
Transfer between reserves | 26,463 | (26,463 | ) | - |
At 31 January 2022 | 1,073,108 |
The fair value reserve represents the fair value adjustments applicable to investment properties net of the associated deferred tax provision, which are initially disclosed in the profit and loss account. As the fair value adjustments are non-distributable profits, they are subsequently ring-fenced in the fair value reserve. |
11. | ULTIMATE CONTROLLING PARTY |
The controlling party is Mrs E Innes. |