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REGISTERED NUMBER: SC170017 (Scotland)















Unaudited Financial Statements

for the Year Ended 31 October 2023

for

Alexander Rankine Limited

Alexander Rankine Limited (Registered number: SC170017)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Alexander Rankine Limited

Company Information
for the Year Ended 31 October 2023







DIRECTORS: R Prow
J Niven
P A McAllister
A J McKinlay Niven





REGISTERED OFFICE: 2 Albert Street
Helensburgh
G84 7SG





REGISTERED NUMBER: SC170017 (Scotland)






Alexander Rankine Limited (Registered number: SC170017)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 450,000 450,000

CURRENT ASSETS
Debtors 5 289,103 229,103

CREDITORS
Amounts falling due within one year 6 57,976 46,130
NET CURRENT ASSETS 231,127 182,973
TOTAL ASSETS LESS CURRENT
LIABILITIES

681,127

632,973

CAPITAL AND RESERVES
Called up share capital 7 75,000 75,000
Revaluation reserve 8 297,052 297,052
Retained earnings 309,075 260,921
SHAREHOLDERS' FUNDS 681,127 632,973

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 29 July 2024 and were signed on its behalf by:





R Prow - Director


Alexander Rankine Limited (Registered number: SC170017)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Alexander Rankine Limited 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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 in respect of investment properties in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).Such properties are held for their investment potential and not for consumption within the business.This is a departure from the Companies Act 2006 which requires all properties to be depreciated and the directors consider that to depreciate them would not enable the financial statements to give a true and fair view.Investment properties are stated at their market value at the balance sheet date.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

Alexander Rankine Limited (Registered number: SC170017)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2022
and 31 October 2023 450,000
NET BOOK VALUE
At 31 October 2023 450,000
At 31 October 2022 450,000

Fair value at 31 October 2023 is represented by:
£   
Valuation in 2011 297,052
Valuation in 2014 152,948
450,000

If investment property had not been revalued it would have been included at the following historical cost:

31.10.23 31.10.22
£    £   
Cost 218,804 218,804
Aggregate depreciation (65,856 ) (65,856 )

Investment property was valued on an open market basis on 14 June 2011 by Allied Scotland,Chartered Surveyors .

The directors have confirmed that as at 31st October 2016,there has been no change to the value of the investment property.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Amounts owed by group undertakings 289,103 229,103

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Tax 57,446 45,600
Accrued expenses 530 530
57,976 46,130

Alexander Rankine Limited (Registered number: SC170017)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.23 31.10.22
value: £    £   
75,000 Ordinary £1 75,000 75,000

8. RESERVES
Revaluation
reserve
£   
At 1 November 2022
and 31 October 2023 297,052

9. RELATED PARTY DISCLOSURES

Fruin Motors (Holdings) Limited
Ultimate parent company

As at 31st October 2023,the amount on the inter-company loan account due from Fruin Motor (Holdings) Limited amounted to £289,103.As at 31st October 2022,the amount on the inter-company loan due to Fruin Motors (Holdings) Limited was £229,103.