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COMPANY REGISTRATION NUMBER: SC745104
E and R Family Limited
Filleted Unaudited Financial Statements
30 September 2024
E and R Family Limited
Financial Statements
Year ended 30 September 2024
Contents
Page
Report to the director on the preparation of the unaudited statutory financial statements
1
Statement of financial position
2
Notes to the financial statements
3
E and R Family Limited
Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of E and R Family Limited
Year ended 30 September 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of E and R Family Limited for the year ended 30 September 2024, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at www.icas.com/accountspreparationguidance. This report is made solely to the director of E and R Family Limited. Our work has been undertaken solely to prepare for your approval the financial statements of E and R Family Limited and state those matters that we have agreed to state to you in this report in accordance with the requirements of ICAS as detailed at www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than E and R Family Limited and its director for our work or for this report.
It is your duty to ensure that E and R Family Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of E and R Family Limited. You consider that E and R Family Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of E and R Family Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
GILLILAND & COMPANY Chartered accountants
216 West George Street Glasgow G2 2PQ
12 June 2025
E and R Family Limited
Statement of Financial Position
30 September 2024
2024
2023
Note
£
£
£
Fixed assets
Investments
4
538,943
Current assets
Debtors
5
200
200
Creditors: amounts falling due within one year
6
499,992
---------
----
Net current (liabilities)/assets
( 499,792)
200
---------
----
Total assets less current liabilities
39,151
200
Provisions
Taxation including deferred tax
9,241
--------
----
Net assets
29,910
200
--------
----
Capital and reserves
Called up share capital
200
200
Revaluation reserve
27,724
Profit and loss account
1,986
--------
----
Shareholders funds
29,910
200
--------
----
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 12 June 2025 , and are signed on behalf of the board by:
Mr Brian Gray
Director
Company registration number: SC745104
E and R Family Limited
Notes to the Financial Statements
Year ended 30 September 2024
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 216 West George Street, Glasgow, G2 2PQ, Scotland.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change of value.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 reporting date that are expected to apply to the reversal of the timing difference.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in joint ventures
Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Investments
Other investments other than loans
£
Cost
At 1 October 2023
Additions
613,285
Disposals
( 111,307)
Revaluations
36,965
---------
At 30 September 2024
538,943
---------
Impairment
At 1 October 2023 and 30 September 2024
---------
Carrying amount
At 30 September 2024
538,943
---------
At 30 September 2023
---------
5. Debtors
2024
2023
£
£
Other debtors
200
200
----
----
6. Creditors: amounts falling due within one year
2024
2023
£
£
Accruals and deferred income
1,125
Corporation tax
467
Director loan accounts
498,400
---------
----
499,992
---------
----
7. Director's advances, credits and guarantees
As at 30 September 2024 the amount due to Mr B Gray was £498,400 (2023: £0). This loan is interest free and has no fixed date of repayment.
8. Controlling party
The company was under the control of the director in the year.