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Registered Number: SC541183
Scotland

 

 

 

RELIANCE (AB) LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 August 2022

End date: 31 July 2023
Director Man Cuong Phu
Registered Number SC541183
Registered Office Templars House
South Deeside Road
Aberdeen
Aberdeen
AB12 5GB
Accountants Davidson Accounting
Templars House
South Deeside Road
Aberdeen
AB12 5GB
1
Director's report and financial statements
The director presents his/her/their annual report and the financial statements for the year ended 31 July 2023.
Principal activities
Principal activity of the company during the financial year was property rental
Director
The director who served the company throughout the year was as follows:
Man Cuong Phu
Statement of director's responsibilities
The director is responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the director is required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The director is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

On behalf of the board.


----------------------------------
Man Cuong Phu
Director

Date approved: 10 October 2024
2
Accountant’s report
You consider that the company is exempt from an audit for the year ended 31 July 2023 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Davidson Accounting
31 July 2023



....................................................

Davidson Accounting

Templars House
South Deeside Road
Aberdeen
AB12 5GB
10 October 2024
3
 
 
Notes
 
2023
£
  2022
£
Turnover   18,845 
Gross profit   18,845 
Selling and distribution costs   (41,405)
Administrative expenses 15,431    (183,060)
Operating profit/(loss) 15,431    (205,620)
Interest payable and similar charges (2)  
Profit/(Loss) on ordinary activities before taxation 15,429    (205,620)
Tax on profit on ordinary activities  
Profit/(Loss) for the financial year 15,429    (205,620)
 
4
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 34,032    55,506 
34,032    55,506 
Current assets      
Debtors 4 (85,125)   89,713 
Cash at bank and in hand (47)   3 
(85,172)   89,716 
Creditors: amount falling due within one year 5 (73,348)   (187,211)
Net current assets (158,520)   (97,495)
 
Total assets less current liabilities (124,488)   (41,989)
Creditors: amount falling due after more than one year 6 (394,604)   (492,532)
Net assets (519,092)   (534,521)
 

Capital and reserves
     
Profit and loss account (519,092)   (534,521)
Shareholders' funds (519,092)   (534,521)
 


For the year ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the director on 10 October 2024 and were signed by:


-------------------------------
Man Cuong Phu
Director
5
  Retained Earnings   Total
£ £
At 01 August 2021 (328,901) (328,901)
Profit for the year (205,620) (205,620)
Total comprehensive income for the year (205,620) (205,620)
Total investments by and distributions to owners
At 31 July 2022 (534,521) (534,521)
At 01 August 2022 (534,521) (534,521)
Profit for the year 15,429  15,429 
Total comprehensive income for the year 15,429  15,429 
Total investments by and distributions to owners
At 31 July 2023 (519,092) (519,092)
6
General Information
Reliance (AB) LTD is a private company, limited by shares, registered in Scotland, registration number SC541183, registration address Templars House, South Deeside Road, Aberdeen, Aberdeen, AB12 5GB.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
2.

Average number of employees

Average number of employees during the year was 2 (2022 : 2).
3.

Tangible fixed assets

Cost or valuation Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £
At 01 August 2022 1,000    204,176    2,850    208,026 
Additions      
Disposals      
At 31 July 2023 1,000    204,176    2,850    208,026 
Depreciation
At 01 August 2022 1,000    149,683    1,837    152,520 
Charge for year   21,031    443    21,474 
On disposals      
At 31 July 2023 1,000    170,714    2,280    173,994 
Net book values
Closing balance as at 31 July 2023   33,462    570    34,032 
Opening balance as at 01 August 2022   54,493    1,013    55,506 


4.

Debtors: amounts falling due within one year

2023
£
  2022
£
VAT 7,449    701 
7,449    701 

4.

Debtors: amounts falling due after one year

2023
£
  2022
£
Directors Loan Accounts (181,586)  
L Chong Loan 89,012    89,012 
(92,574)   89,012 

5.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors   110,190 
PAYE & Social Security 75,503    76,503 
Other Creditors (1)   (1)
Wages & Salaries Control Account (2,154)   519 
73,348    187,211 

6.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Trade Creditors 8,218   
Bank Loans & Overdrafts (secured) 45,328    45,328 
Aberdeen Corporation Loan 181,007    181,007 
Deeside Foods Loan (963)   (963)
City Hunter Loan 185,405    181,605 
Carden Restaurant Loan 2,927    2,927 
Leva Loan (10,000)   (10,000)
F Xue Loan (20,000)   (20,000)
Leisure Aberdeen Loan 2,682    2,682 
Directors' Loan Accounts   109,946 
394,604    492,532 

7.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
1,000 Class A shares of £1.00 each 1,000    1,000 
1,000    1,000 

7