Registered Number SC036300


Abbreviated Accounts

30 November 2014


Abbreviated Balance Sheet as at 30 November 2014

Notes 2014 2013
£ £
Fixed assets
Tangible assets 2 16,719 14,919
Investments 3 1,496,060 1,496,060
1,512,779 1,510,979
Current assets
Debtors 216,790 214,776
Cash at bank and in hand 184,877 182,944
401,667 397,720
Creditors: amounts falling due within one year (12,377) (23,766)
Net current assets (liabilities) 389,290 373,954
Total assets less current liabilities 1,902,069 1,884,933
Total net assets (liabilities) 1,902,069 1,884,933
Capital and reserves
Called up share capital 4 34 34
Revaluation reserve 768,241 768,241
Other reserves 3 3
Profit and loss account 1,133,791 1,116,655
Shareholders' funds 1,902,069 1,884,933
  • For the year ending 30 November 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
  • The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 20 August 2015

And signed on their behalf by:
Ranald Stewart, Director


Notes to the Abbreviated Accounts for the period ended 30 November 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements have been prepared under the historical cost convention as modified by the revaluation of investment properties and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008)

Turnover policy
Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.

Tangible assets depreciation policy
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Motor Vehicles - 25% reducing balance
Fixtures & Fittings -15% reducing balance

Valuation information and policy
Investment properties are included in the Balance sheet at their open market value in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) and are not depreciated. This treatment is contrary to the Companies Act 2006 which states that fixed assets should be depreciated but is, in the opinion of the director, necessary in order to give a true and fair view of the financial position of the company.

2 Tangible fixed assets
At 1 December 2013 72,956
Additions 4,662
Disposals -
Revaluations -
Transfers -
At 30 November 2014 77,618
At 1 December 2013 58,037
Charge for the year 2,862
On disposals -
At 30 November 2014 60,899
Net book values
At 30 November 2014 16,719
At 30 November 2013 14,919

3Fixed assets Investments
Property held at valuation 1 December 2013 and 30 November 2014 £1,496,060

Original cost £727,819
Valuation surplus £768,241

The 2014 valuations were made by the directors on an open market for existing use basis.

4 Called Up Share Capital
Allotted, called up and fully paid:
672 Ordinary £.05 shares of £0.05 each 34 34
1 Preference share of £0.05 0 0



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